Ensurge Micropower ASA – Grant of Incentive Subscription Rights

Rhea-AI Summary

Ensurge Micropower ASA (ENMPY) has announced the grant of 90,000 incentive subscription rights to US employees under its 2024 incentive subscription rights plan. The exercise price is set at NOK 1.2532 per share. The subscription rights will vest in two equal installments: 50% after one year and 50% after two years from the grant date. These rights will expire on May 14, 2029. The grant aligns with the terms approved at the 2024 Annual General Meeting.

The Board of Directors of Ensurge Micropower ASA (the "Company") has resolved to grant a total of 90,000 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 2024 Annual General Meeting. The exercise price of the subscription rights is calculated to NOK 1.2532 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 Company’s 2024 Subscription Rights Incentive Plan. 

About Ensurge Micropower: 

Ensurge is energizing innovation with the first ultrathin, flexible, reliable, and fundamentally safe solid-state lithium microbattery.

With a workforce of forty top-tier specialists based in the world's technology capital, Silicon Valley, Ensurge has developed a future-oriented and innovative microbattery technology. The microbattery is ideal for form-factor-constrained applications, including hearables, 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 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. 

Ensurge’s production facilities are optimized for prototyping and small-scale manufacturing. To scale efficiently, we aim to outsource the production of the resulting intellectual property (IP) to specialized partners with industrial manufacturing expertise.

Ensurge is listed on the Norwegian stock exchange and is financed out of Norway by strong and reputable financial investors, reflecting both a strategic investment and a robust transatlantic collaboration.

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 (ENMPY) grant in May 2024?

Ensurge Micropower granted 90,000 incentive subscription rights to US employees.

What is the exercise price for ENMPY's 2024 incentive subscription rights?

The exercise price is NOK 1.2532 per share.

When do Ensurge Micropower's 2024 incentive subscription rights vest?

The rights vest in two equal portions: 50% after one year and 50% after two years from the grant date.

When do ENMPY's 2024 incentive subscription rights expire?

The subscription rights expire on May 14, 2029.