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Kitron: Issue of Shares Under Share Incentive Program
June 4, 2024 | KitronEstimated reading time: Less than a minute
Reference is made to Kitron ASA's previous disclosures regarding its share incentive program. Kitron has received exercise notices from the participants in the share incentive program and Kitron's board of directors has consequently resolved to issue 700,027 new shares. The shares are issued to the option holders at a strike price of NOK 0.10 per share pursuant to the board authorisation resolved in Kitron's general meeting held 25 April 2024.
In total, 1,250,000 options were exercised. In addition, Kitron has decided to convert 549,973 exercised options under the share incentive program against cash consideration. The cash consideration will be utilised to cover the tax cost for the option holders which will be subject to advance tax deduction by Kitron after exercise of the options. The conversion of options is made at NOK 33.30, which is equal to the closing price on Oslo Børs on 3 June 2024 less the strike price of NOK 0.10 per share.
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