Ixonos - Company Announcement

IXONOS PLC’S OPTION PLAN 2016 AND LAPSE OF UNDISTRIBUTED OPTION RIGHTS UNDER OPTION PLAN V

Helsinki, Finland, 2016-11-21 12:00 CET (GLOBE NEWSWIRE) -- Ixonos Plc         
Stock Exchange Release          21 November 2016 at 13:00 



IXONOS PLC’S OPTION PLAN 2016 AND LAPSE OF UNDISTRIBUTED OPTION RIGHTS UNDER
OPTION PLAN V 



Option plan 2016



On 21 November 2016, the Board of Directors of Ixonos Plc (“Ixonos” or
“Company”) decided to issue option rights on the basis of an authorisation
granted by the Annual General Meeting held on 7 April 2016. 



The option rights will be distributed as determined by the Board of Directors
to key persons employed or recruited by a company belonging in Ixonos Plc's
group for the purpose of improving their commitment and motivation. 



The option rights will be marked as series 2016A, 2016B and 2016C.  The maximum
amount of option rights issued is 35,356,560, and they entitle to subscribe
altogether a maximum of 35,356,560 of new Company shares. The Board of
Directors may decide on any additional conditions related to the receipt of
option rights and on the redistribution of option rights that later revert back
to the Company. 



Each option right entitles its holder to subscribe for one new Ixonos share.
Shares subscribed on the basis of the option rights represent, on 3 November
2016, altogether a maximum of approximately 10 per cent of all Company shares
and votes, corresponding to a dilution effect of approximately 9 per cent. 



The subscription period for shares subscribed for under option rights 2016A
starts on 1 October 2017 and ends on 30 September 2018. The subscription price
of a share subscribed for under option right 2016A is EUR 0.08, which
corresponds to the weighted average price of the Company’s shares quoted on
Nasdaq Helsinki Ltd (“Helsinki Stock Exchange”) between 18 May and 18 November
2016 rounded up to the nearest cent. 



The subscription period for shares subscribed for under option rights 2016B
starts on 1 October 2018 and ends on 30 September 2019. The subscription price
of a share subscribed for under option right 2016B is the weighted average
price of the Company’s shares quoted on the Helsinki Stock Exchange between 1
July and 31 December 2017 rounded up to the nearest cent. 



The subscription period for shares subscribed for under option rights 2016C
starts on 1 October 2019 and ends on 30 September 2020. The subscription price
of a share subscribed under option right 2016C is the weighted average price of
the Company’s shares quoted on the Helsinki Stock Exchange between 1 July and
31 December 2018 rounded up to the nearest cent. 



The subscription price may be decreased by, inter alia, the amount of dividends
paid and may also otherwise be subject to revision in accordance with the terms
and conditions. The subscription price, however, may never be lower than EUR
0.01. 



The complete terms and conditions of the option plan are appended to this stock
exchange release and available on the Company’s homepage at
http://www.ixonos.com/fi/investor/shares/option-schemes. 



The theoretical market value of the incentive scheme is approximately EUR 1.2
million, which is recognised as an expense in accordance with IFRS 2 for the
years 2016-2020.The write-down is not based on cash flows. 



The theoretical market value of the option rights has been calculated using the
Black & Scholes model. 



Lapse of Company’s undistributed option rights under option plan V



The Board of Directors of the Company has found the option rights 2014A, 2014B
and 2014C under option plan V to have lapsed insofar as they remain
undistributed. Out of the options belonging in the Company's option plan V,
only option rights belonging in 2014A series have been distributed. 







IXONOS PLC

Board of Directors







For more information, please contact:



Ixonos Plc

CEO Sami Paihonen,tel. +358 50 502 1111, sami.paihonen@ixonos.com







Distribution:

NASDAQ OMX Helsinki

Main media

Bifogade filer:

Ixonos Stock Option Plan EN 21112016.pdf