April 24, 2014 - Asetek A/S' board of directors yesterday decided to
issue warrants to key employees in the company and its subsidiaries. The
board's decision is made in accordance with the shareholder
authorization for the board adopted as Article 6.1 of the articles of
association and the company's general guidelines regarding incentive
programs.
A total of 118,210 warrants have been issued for subscription of up to
118,210 shares of a nominal value of DKK 0.10 at an exercise price of
NOK 40.10 per share. The exercise price is established as the share
price ("closing price") for the Company's share as of yesterday. Prior
to the issue of any shares under this program, Asetek A/S has 14,881,311
shares outstanding.
Warrants granted to employees in a Danish company are limited by and
governed by the Danish Act on Options for Employees (the Stock Option
Act/aktieoptionsloven) regarding termination of employment prior to
exercise of warrants.
The warrants become exercisable gradually within a period of 1 to 4
years and the warrants will lapse 7 years after they have been
subscribed.
Under this program the CEO in the Company will receive 24,750 warrants
and the CFO of the Company will receive 10,313 warrants. Other senior
management members will recieve a total of 39,147 warrants, and board
members will receive a total of 44,000 warrants.
The award of warrants will incur consequential amendments to the
articles of association.
About Asetek
Asetek is the world leading provider of energy efficient liquid cooling
systems for data centers, servers, workstations, gaming and high
performance PCs. Its products are used for reducing power and greenhouse
emissions, lowering acoustic noise, and achieving maximum performance by
leading OEMs and channel partners around the globe.
Asetek's products are based upon its patented all-in-one liquid cooling
technology with more than 1.5 million liquid cooling units deployed in
the field. Founded in 2000, Asetek is headquartered in Denmark with
offices in San Jose, California, China and Taiwan. For more information,
visit http://www.asetek.com.
For further information, please contact:
Peter Dam Madsen, Chief Financial Officer
Mobile: +1 408 813 4147, e-mail: investor.relations@asetek.com