Copenhagen, 2013-02-05 16:08 CET (GLOBE NEWSWIRE) -- Announcement no. 02
DFDS’ share option programme is part of DFDS’ ongoing aspiration to promote a company culture that creates and rewards results.
Award of share options to Executive Board
In accordance with DFDS’ guidelines for the remuneration of the Board of Directors and the Executive Board as adopted by the Annual General Meeting on 29 March 2012, CEO Niels Smedegaard was today awarded 62,716 share options and CFO Torben Carlsen was awarded 47,037 share options.
The share options vest with 1/36 per month from and including February 2013 and may be exercised in the period from February 2016 until March 2018. The exercise price is based on the average quoted share price in the 20 trading days prior to the award, to which 5% has been added, giving an exercise price of DKK 294.00 per share of DKK 100 nominal value. The options are hedged against the company’s own shareholding. The theoretical value of the share options is DKK 3.5m, calculated according to the Black & Scholes model based on assumptions of an average duration of 4.0 years, a volatility of 26.2%, a dividend of DKK 12 per share, and an interest rate of 0.60%.
Content of option programme
In addition, a total of 109,263 share options have been awarded to a number of key employees entitling to acquisition of up to 109,263 shares in DFDS.
The share options vest with 1/36 per month from and including February 2013 and may be exercised in the period from February 2016 until March 2018. The exercise price is based on the average quoted share price in the 20 trading days prior to the award, to which 5% has been added, giving an exercise price of DKK 294.00 per share of DKK 100 nominal value. The options are hedged against the company’s own shareholding. The theoretical value of the share options is DKK 3.5m, calculated according to the Black & Scholes model based on assumptions of an average duration of 4.0 years, a volatility of 26.2%, a dividend of DKK 12 per share, and an interest rate of 0.60%.
Contact persons:
Niels Smedegaard, CEO
+45 33 42 34 00
Torben Carlsen, CFO
+45 33 42 32 01
Søren Brøndholt Nielsen, IR
+45 33 42 33 59
