Ensurge Micropower ASA Updates Employee Share Purchase Plan Details
Ensurge Micropower ASA Updates on Employee Share Purchase Plan
Ensurge Micropower ASA recently provided important updates regarding its employee share purchase plan (ESPP). The announcement highlights the number of new shares and the adjusted share capital as a result of this plan.
Details of the Subscription Rights Exercise
The ESPP will issue a total of 2,216,074 new shares. Following the registration of these shares, the company's share capital will stand at NOK 311,113,173. This will be divided into 622,226,346 shares, each with a par value of NOK 0.50. These changes reflect the company's commitment to enhancing employee engagement through share ownership.
Understanding the Employee Share Purchase Plan
The ESPP facilitates eligible participants in subscribing for shares. The plan operates in two phases: one starting in September through February and the other from March through August. Participants can allocate up to 20% of their gross base salary towards share purchases, with a minimum total of NOK 6,000 required in each offering period. This offers a flexible approach for employees and contractors to invest in the company.
Investment and Participation Insights
Once participants agree to enroll in the ESPP during the designated periods, their contributions will automatically renew unless they choose to opt out. This long-term commitment aims to foster a sense of ownership and enthusiasm among employees, further aligning their interests with those of the company.
Exemption from Prospectus Publication
Notably, the issuance of shares under the ESPP is exempt from the obligation to publish a listing prospectus as per Regulation (EU) 2017/1129. This regulatory detail allows the company to streamline its procedures while enhancing employee participation in ownership.
About Ensurge Micropower ASA
Ensurge Micropower ASA champions innovation with its ultrathin, flexible, and safe solid-state lithium microbattery technology. Designed for the 1 to 100 milliampere-hour (mAh) class, these microbatteries are ideal for various applications, including wearable devices and Internet of Things (IoT) solutions. The company's cutting-edge facility in Silicon Valley combines innovative processes with large-scale production methods, ensuring they remain at the forefront of battery technology.
Contact Information
Lars Eikeland, Chief Executive Officer
Email: lars.eikeland@ensurge.com
Frequently Asked Questions
What is the purpose of the Employee Share Purchase Plan (ESPP)?
The ESPP is designed to encourage employee investment in the company by allowing them to purchase shares at a favorable rate.
How many new shares will be issued under the ESPP?
A total of 2,216,074 new shares will be issued as part of the ESPP.
What is the share capital of Ensurge Micropower ASA after the issuance?
After the issuance, the share capital will be NOK 311,113,173, divided into 622,226,346 shares.
Is participation in the ESPP mandatory for employees?
No, participation in the ESPP is voluntary, but it automatically renews unless opted out by the employee.
Where is the Ensurge Microbattery manufactured?
The Ensurge Microbattery is produced in a state-of-the-art manufacturing facility located in Silicon Valley.
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