Aalborg, Denmark, 2013-09-02 12:03 CEST (GLOBE NEWSWIRE) --
On 2 September 2013, TK Development A/S completed a capital increase, with 56,087,620 new shares of nominally DKK 1 each being issued. Thus, the capital increase amounts to nominally DKK 56,087,620, subscribed for at a price of DKK 4.11 per share.
The subscription price for the newly issued shares was lower than the market value of the shares, for which reason the Board of Directors of TK Development A/S has decided to adjust the number of warrants allotted to the members of TK Development A/S’ Executive Board and to the executive staff of the Company and its subsidiaries, and also to adjust the subscription price for exercising the warrants. This was done in accordance with the Company’s Articles of Association and the existing warrant scheme.
The adjustment was made to ensure that the value of the warrants for the employees will be maintained after implementation of the above-mentioned alterations to the capital structure of TK Development A/S. The adjustment means that the employees will be allotted a number of additional warrants, and that the subscription price upon exercise of the warrants will be reduced. The adjustment gives rise to the following changes to TK Development A/S' warrant scheme:
| 2010 scheme | Previous exercise price | New exercise price | Previous no. of shares | New no. of shares |
| 1st window | 27.956 | 20.168 | 158,667 | 219,940 |
| 2nd window | 28.893 | 20.844 | 158,667 | 219,940 |
| 3rd window | 30.236 | 21.813 | 158,666 | 219,938 |
At the same time, the Company's Articles of Association have been altered to reflect this adjustment.
Contact details:
Frede Clausen, President & CEO
Tel. +45 8896 1010
