(Oslo, 2 July 2018) Today, Nel ASA (the "Company") resolved to issue 5,138,319
new shares to fulfil the Company's obligations, specified in the Company's
annual report (note 5), towards four existing and former employees of the
Company's US subsidiary Proton Energy Systems, Inc. ("Proton OnSite"), thereby
increasing the Company's share capital by NOK 1,027,663.80.
The shares were subscribed at a total subscription/exercise price of NOK
3,719,274.14.
The Nel options held by the four existing and former employees are options in
Proton OnSite converted to options in Nel as part of the acquisition as of 30
June 2017.
Among the four option holders is SVP Sales and Marketing David Bow, who pursuant
to the option arrangement subscribed for 666,342 shares at a total subscription
price of NOK 1,224,070.25. After the subscription Mr
Bow's holding will be 666,342 shares and 666,341 vested options.
ENDS
For additional information, please contact:
Bent Skisaker, CFO, +47 468 21 693
About Nel ASA | www.nelhydrogen.com
Nel Hydrogen is a global, dedicated hydrogen company, delivering optimal
solutions to produce, store and distribute hydrogen from renewable energy. We
serve industries, energy and gas companies with leading hydrogen technology.
Since its foundation in 1927, Nel has a proud history of development and
continual improvement of hydrogen plants. Our hydrogen solutions cover the
entire value chain from hydrogen production technologies to manufacturing of
hydrogen fueling stations, providing all fuel cell electric vehicles with the
same fast fueling and long range as conventional vehicles today.
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