The board of directors of Thin Film Electronics ASA ("Thinfilm") has resolved to issue 452,500 shares to 5 employees, in accordance with the Company's 2012 Subscription Rights Incentive Plan.
Cashless exercise - transfer of rights
On 12 August 2016, in order to establish a cashless exercise of subscription rights, the 5 exercising employees have transferred their rights to receive shares resulting from the exercise of options to a third party.
As a consequence of said cashless exercise the third party has sold shares in the market and realized NOK 4.82 per share on behalf of the employees.
The issue of the 452,500 shares corresponds to a share capital increase of NOK 49,775 (each share issued having a par value of NOK 0.11). The weighted average subscription price per share was NOK 1.89. The total subscription price therefore is NOK 855,225, of which NOK 49,775 is added to the Company's share capital while NOK 805,450 is added to the Company's funds in accordance with the provisions of the Public Limited Companies Act.
For more information contact:
John Afzelius-Jenevall, CFO: +47 95 87 96 80 / firstname.lastname@example.org
12 August 2016
Thin Film Electronics ASA
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.