Ensurge Micropower ASA - Grant of Incentive Subscription Rights

Rhea-AI Summary

Ensurge Micropower ASA announced the grant of 210,000 incentive subscription rights to employees, as approved by the Board of Directors on November 11, 2024. The grant falls under the company's 2024 incentive subscription rights plan, established at the Annual General Meeting on May 14, 2024. The exercise price is set at NOK 0.94017 per share, with a two-phase vesting schedule: 50% after one year and the remaining 50% after two years from the grant date.

Positive

• Implementation of employee incentive program aligning staff interests with company goals

Negative

• Potential shareholder dilution from 210,000 new subscription rights

The Board of Directors of Ensurge Micropower ASA (the "Company") resolved on 11 November 2024 to grant a total of 210,000 incentive subscription rights to 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 0.94017 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. 

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 

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 November 2024?

Ensurge Micropower granted 210,000 incentive subscription rights to employees on November 11, 2024.

What is the exercise price for Ensurge Micropower's (ENMPY) 2024 subscription rights?

The exercise price for the subscription rights is NOK 0.94017 per share.

What is the vesting schedule for Ensurge Micropower's (ENMPY) 2024 subscription rights?

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