On April 25, 2014, the AGM approved to the proposed incentive program through the issuance of 1.000.000 warrants. The warrants were addressed to all the employees of the Company. One warrant entitles the holder to subscribe for one new share in the Company. The Incentive Program was heavily oversubscribed. Of the offered warrants, 58 percent were subscribed for by the Swedish and Danish management and 42 percent by the other staff.
“The great interest in the incentive program shows that our employees have a very strong confidence in Formpipe” says Christian Sundin, CEO of Formpipe Software.
The Board wishes to promote the Company's long-term interests by preparing its employees a well- considered incentive program, which allows them to take part in an increase in the value of the Company.
The increase in the Company's share capital at full subscription with the support of all warrants will be SEK 100.000 corresponding to a dilution of about 2 percent of the total number of shares and votes in the Company.
For additional information, contact:
Christian Sundin, President and CEO of Formpipe, +46 705 67 73 85
This is a translation of the original Swedish version. In the event of any discrepancies between the two versions, the original Swedish version shall take precedence.
The information in this press release is of the kind that Formpipe Software AB (publ) is required to disclose in accordance with the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. This information was submitted for publication on Monday, May 19, 2014.
Formpipe develops ECM products and solutions for structuring information and supplies them to major companies, authorities and organisations. ECM products help organisations to capture, manage and distribute information, and to place it in context. The company’s software helps improve efficiency, cut costs and reduce risk exposure. Formpipe was founded in 2004 and has offices in Stockholm, Uppsala and Linköping in Sweden, and in Copenhagen, Denmark. The Formpipe share is listed on NASDAQ OMX Nordic, Small Cap.