Allerød, 2014-08-21 07:52 CEST (GLOBE NEWSWIRE) --
In accordance with Matas A/S’ Overall Guidelines for Incentive Pay, Matas A/S has today granted a total of 72,789 stock options, comprising 47.516 stock options to the executive management and 25.273 stock options to key employees, to purchase shares in Matas A/S under the long-term incentive plan.
The stock options are subject to fulfilment of two KPIs weighted 50% each: one based on EBITDA and one based on the total shareholder return for the group. Upon fulfilment of the KPIs vesting will take place in three equal tranches after each of the financial years 2014/15, 2015/16 and 2016/17, and the KPI targets are defined for each of these periods.
Vested stock options will not become available for exercise until after the announcement of the annual report for the financial year 2016/17 and participants have a subsequent period of two years to exercise the stock options. Each vested stock option entitles the holder to purchase one share in Matas A/S at a price per share of DKK 7.16.
To the extent 100% of the 72,789 granted stock options vest in the period 2014/15 to 2016/17, the theoretical market value hereof as per today is DKK 8,214,407, calculated according to the Black-Scholes model based on assumptions of an exercise price of DKK 7.16, an average technically calculated duration of 5 years, a technically calculated volatility of 18%, a technically calculated dividend yield of 3.6%, and a technically calculated interest rate of 0.5%.
Pursuant to Section 28a of the Securities Trading Act, Matas A/S shall hereby disclose information on transactions with the shares and associated securities of Matas A/S made by management and their related parties. Matas A/S has received information on below transactions in connection with allocation of stock options:
| Name | Terje List |
| Reason | Chief Executive Officer |
| Issuer | Matas A/S |
| ISIN code | Stock options related to ISIN code DK0060497295 |
| Transaction | Granted stock options which are conditional upon fulfilment of the KPIs and which upon vesting will not become available for exercise until after the announcement of the annual report for the financial year 2016/17 |
| Designation | Options to buy shares in Matas A/S |
| Trade day | 21 August 2013 |
| Market | N/A |
| Number | 32.892 (assuming 100% vesting) |
| Teoretical market value (DKK) | Technically calculated valuation based on the Black-Scholes model of DKK 3,711,938 (assuming 100% vesting) |
| Name | Anders T. Skole-Sørensen |
| Reason | Chief Financial Officer |
| Issuer | Matas A/S |
| ISIN code | Stock options related to ISIN code DK0060497295 |
| Transaction | Granted stock options which are conditional upon fulfilment of the KPIs and which upon vesting will not become available for exercise until after the announcement of the annual report for the financial year 2016/17 |
| Designation | Options to buy shares in Matas A/S |
| Trade day | 21 August 2013 |
| Market | N/A |
| Number | 14,624 (assuming 100% vesting) |
| Teoretical market value (DKK) | Technically calculated valuation based on the Black-Scholes model of DKK 1,650,352 (assuming 100% vesting) |
Matas A/S
Enquiries
Jesper Breitenstein
Head of Investor Relations
Tel. +45 27 80 76 75
