Ensurge Micropower ASA - Grant of Incentive Subscription Rights

Rhea-AI Summary

Ensurge Micropower ASA has granted 160,000 incentive subscription rights to certain US employees in the Ensurge group. The Board of Directors made this decision on 24 September 2024 under the company's 2024 incentive subscription rights plan, approved at the Annual General Meeting on 14 May 2024. The exercise price is set at NOK 1.0982 per share. The subscription rights will vest in two equal portions: 50% after one year and 50% after two years from the grant date. They will expire on 14 May 2029.

Ensurge Micropower specializes in developing ultrathin, flexible solid-state lithium microbatteries for the 1-100 mAh class. These innovative batteries are designed for wearable devices, connected sensors, and IoT applications. The company's manufacturing facility in Silicon Valley combines patented process technology with roll-to-roll production methods.

Positive

• Grant of 160,000 incentive subscription rights to US employees
• Innovative microbattery technology for wearable devices and IoT applications
• State-of-the-art manufacturing facility in Silicon Valley

Negative

• None.

The Board of Directors of Ensurge Micropower ASA (the "Company") resolved on 24 September 2024 to grant a total of 160,000 incentive subscription rights to certain US employees in the Ensurge group. The grant was made under the Company's 2024 incentive subscription rights plan, as resolved at the Annual General Meeting on 14 May 2024. The exercise price of the subscription rights is calculated to NOK 1.0982 per share. 

50% of the subscription rights will vest on the one-year anniversary of the date of grant, and the remaining 50% will vest on the two-year anniversary of the date of grant. The subscription rights expire on 14 May 2029.

The subscription rights otherwise follow the terms and conditions of the 2024 subscription rights incentive plan.

About Ensurge Micropower:
Ensurge is Energizing Innovation (TM) with the first ultrathin, flexible, reliable, and fundamentally safe solid-state lithium microbattery for the 1 to 100 milliampere-hour (mAh) class of wearable devices, connected sensors, and beyond. The innovative Ensurge Microbattery enables energy-dense rechargeable products that are ideal for form-factor-constrained applications including hearables (hearing aids and wireless headphones), digital and health wearables, sports and fitness devices, and IoT sensor solutions that use energy harvesting to power everyday things. The company's state-of-the-art manufacturing facility, located in the heart of Silicon Valley, combines patented process technology and materials innovation with the scale of roll-to-roll production methods to bring the advantages of Ensurge technology to established and expanding markets.

For more information, please contact: Lars Eikeland, Chief Executive Officer E-mail: lars.eikeland@ensurge.com (mailto:lars.eikeland@ensurge.com)

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

FAQ

How many incentive subscription rights did Ensurge Micropower ASA (ENMPY) grant on 24 September 2024?

Ensurge Micropower ASA granted a total of 160,000 incentive subscription rights to certain US employees in the Ensurge group on 24 September 2024.

What is the exercise price for the subscription rights granted by Ensurge Micropower ASA (ENMPY)?

The exercise price of the subscription rights granted by Ensurge Micropower ASA is NOK 1.0982 per share.

When do the subscription rights granted by Ensurge Micropower ASA (ENMPY) expire?

The subscription rights granted by Ensurge Micropower ASA expire on 14 May 2029.

What type of technology does Ensurge Micropower ASA (ENMPY) specialize in?

Ensurge Micropower ASA specializes in developing ultrathin, flexible, reliable, and safe solid-state lithium microbatteries for the 1 to 100 milliampere-hour (mAh) class of devices.