Ensurge Micropower ASA – Grant of Incentive Subscription Rights to new CEO
Rhea-AI Summary
Ensurge Micropower ASA (ENMPY) has announced that Shauna McIntyre has assumed the role of CEO effective August 28, 2025, ahead of the previously announced September 1 start date. The Board has granted McIntyre 30,687,311 incentive subscription rights with an exercise price of NOK 1.316 per share.
The subscription rights will vest over four years, with 25% vesting after the first year and the remaining 75% vesting in equal quarterly installments. These rights will expire on August 8, 2030.
Ensurge, based in Silicon Valley with 40 specialists, develops ultrathin flexible solid-state lithium microbatteries for hearables, wearables, and IoT devices. The company operates a state-of-the-art facility focused on prototyping and small-scale manufacturing, with plans to outsource large-scale production to specialized partners.
Positive
- Successful recruitment of new CEO Shauna McIntyre
- Long-term incentive alignment through 4-year vesting schedule
- Strategic positioning in growing markets (hearables, wearables, IoT)
Negative
- Currently limited to prototyping and small-scale manufacturing
- Dependency on future partnerships for large-scale production
Reference is made to the announcement by Ensurge Micropower ASA (the "Company") on 7 August 2025, whereby it was announced that the new CEO of the Company, Shauna McIntyre, was to assume the role on or about 1 September 2025. The Company informs that Shauna McIntyre assumed the role as CEO of the Company as of 28 August 2025.
In connection with the employment of the new CEO, the Board of Directors of the Company has resolved to grant a total of 30,687,311 incentive subscription rights to Shauna McIntyre, under the Company's 2025 incentive subscription rights plan, as approved at the Extraordinary General Meeting held in the Company on 8 August 2025. The exercise price of the subscription rights is calculated to NOK 1.316 per share.
The subscription rights shall vest over four years, with
The subscription rights expire on 8 August 2030.
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.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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