Copenhagen, 2012-05-11 08:55 CEST (GLOBE NEWSWIRE) --
Share option programme
According to the guidelines for incentive pay adopted at
the Company's annual general meeting on 27 March 2012,
the Board of Directors has passed a resolution to grant a
total of 101,000 share options, comprising 40,250 options
to the members of the Board of Management and 60,750
options to a group of key employees.
The options can be exercised during the period from 1 May
2015 to 1 May 2019 during the four-week trading windows
following the release of annual and interim reports. If the
option holders have not exercised their options within the
period specified, the options will lapse without any
compensation to the holders.
The exercise price of the options has been set at DKK 399
each, corresponding to an average of the closing prices of
the company's shares on the NASDAQ OMX Copenhagen A/S
during the period 2 - 9 May 2012 (both days included). To
this should be added annual interest at the rate of 2.5%,
which will be added the first time on 1 May 2013. The
exercise price of the options will be adjusted on payment
of dividend, to the effect that DKK 1 of dividend per share
results in a reduction of the exercise price by DKK 1.
The market value of the adopted option plan of 101,000
options is approximately DKK 6 million applying the Black &
Scholes model for valuation of options. The determination
of the value is based on an assumed exercise price of DKK
440, an annual dividend distribution of DKK 5 per share, a
volatility rate of 22% p.a. and a risk-free interest rate
of 1.49% p.a.
Conditional share programme
The Board of Directors has passed a resolution to grant
conditional shares in accordance with the guidelines for
incentive pay adopted at the Company's annual general
meeting. The scheme comprises a total of 15,300 conditional
shares, including 6,100 shares to the members of the Board
of Management and 9,200 shares to a group of key employees.
The market value of the conditional shares is approximately
DKK 6 million, calculated on the basis of an average of the
closing prices of the company's shares on the NASDAQ
OMX Copenhagen A/S during the period 2 - 9 May 2012 (both
Conditional shares will be available in May 2015, three
years following the date of grant, provided that ALK
achieves the financial targets for vesting and that the
employment relationship with the ALK Group has not been
terminated by the Company on objective grounds or
terminated during the three-year period from the date of
grant in 2012.
Under the international financial reporting standards
(IFRS), the incentive plans will be recognised in the
income statement in the respective functional areas over
the vesting period.
The grant of share options and conditional shares does not
change the company's financial forecast.
No share options or conditional shares have been granted to
members of the Board of Directors.
For further information please contact:
Steen Riisgaard, Chairman of the Board of Directors, tel
+45 4446 0000