Today, the Supervisory Board has decided to establish an incentive scheme for
leading employees in Solar A/S. The scheme is based on options that give the
right to purchase shares from the company's holding of treasury shares. The
reason for the establishment is a wish to tie the employees closer to the group
and to create a share price dependent incentive for the participants and
thereby increase the agreement between the interests of the share holders and
the participants.
The exercise price is determined as the average price on OMX the Nordic
Exchange the first 10 business days after the publication of Annual Report 2007
on 11 March 2008. The granting will take place 31 March 2008, where the
exercise price is also calculated. The number of options cannot be determined
until this point in time but is estimated to amount to approx. 32,100. The
Supervisory Board plans to grant options again in the years to come.
The options issued in 2008 can be used for purchasing shares in 2011 and 2012,
in such a way, however, that utilisation can only take place within the first
10 banking days after the publication of the company's annual report for 2010
and 2011 respectively.
Utilisation of the options is conditioned by the employees not having resigned
from their position in the group before the time of utilisation.
The issued options are estimated to have a total market value of approx. €
0.3m. The market value of the issued options is calculated in accordance with
the Black-Scholes model with a volatility of 22% (calculated based on the past
12 months), an interest-rate level of 4%, a share price of DKK 470 and assuming
that the granted options are utilised in March 2011. In the measurement, future
dividend distribution corresponding to 2% of the share price has been taken
into consideration.
The undersigned is not included in the above-mentioned scheme.
Yours sincerely,
Solar A/S
Flemming H. Tomdrup
