Continuation of incentive programme
Under the share-based incentive programme Schouw & Co. has maintained since
2003, a decision has been made to issue and grant a total of 220,000 share
options on the following terms:
The members of the Management Board of Schouw & Co., President Jens Bjerg
Sørensen and Vice President Peter Kjær, will be granted 24,000 and 12,000 share
options, respectively.
Other senior executives, including managers of subsidiaries, comprising 13
persons, will be granted a total of up to 184,000 share options.
The options are exercisable during a period of 24 months following the
publication of the Schouw & Co. Group's full-year profit announcement for the
2010 financial year.
Each share option entitles the holder to purchase one Schouw & Co. share of DKK
10 nominal value. The exercise price is equal to the average official closing
share price during the first five business days after the publication of the
Schouw & Co. Group's Annual Report for the 2008 financial year (of DKK 67.20),
plus a premium of 4% p.a. with effect from March 20, 2009.
The new options have an aggregate theoretical market value of approximately DKK
4.7 million, calculated on the basis of the Black & Scholes model using 12-month
historical volatility (56.54%) based on daily average prices, a risk-free
interest rate (4.0% p.a.) and the share price (DKK 67.20) at the date of issue.
