Ensurge Micropower Grants Incentive Subscription Rights
Ensurge Micropower Grants Incentive Subscription Rights
The Board of Directors of Ensurge Micropower ASA (the "Company") resolved to grant a total of 11,400,000 incentive subscription rights to its US employees and consultants in the Ensurge group, including CEO/CFO Lars Eikeland. This grant was made under the Company's 2024 incentive subscription rights plan, approved at the recent Annual General Meeting.
Details of the Grant
The exercise price of the subscription rights is set at NOK 1.386 per share. For 11,060,000 of the granted subscription rights, the vesting schedule is as follows: 10% will vest on the one-year anniversary of the grant date, 20% on the two-year anniversary, and 70% on the three-year anniversary. The remaining 340,000 subscription rights will see 50% vesting on the one-year anniversary and the other 50% on the two-year anniversary.
Expiration and Terms
The subscription rights will expire on 14 May 2029 and will adhere to the terms and conditions outlined in the 2024 subscription rights incentive plan.
About Ensurge Micropower
Ensurge is Energizing Innovation with its ultrathin, flexible, reliable, and fundamentally safe solid-state lithium microbattery designed for the 1 to 100 milliampere-hour (mAh) range. This technology supports a variety of applications, including wearables, connected sensors, and more. The Ensurge Microbattery enables energy-dense rechargeable products which are ideal for compact applications such as hearing aids, wireless headphones, health wearables, sports devices, and IoT sensor solutions that utilize energy harvesting.
Manufacturing Excellence
The company's state-of-the-art manufacturing facility in Silicon Valley employs patented process technology and material innovations combined with roll-to-roll production methods, thus ensuring scalability and efficiency in delivering Ensurge technology to both established and emerging markets.
Contact Information
For further details, please contact Lars Eikeland, Chief Executive Officer at lars.eikeland@ensurge.com.
Frequently Asked Questions
What are incentive subscription rights?
Incentive subscription rights are options given to employees that allow them to purchase shares of the company at a predetermined price, often aimed at incentivizing performance.
How many subscription rights were granted by Ensurge Micropower ASA?
A total of 11,400,000 incentive subscription rights were granted to US employees and consultants.
What is the exercise price for the granted rights?
The exercise price for the subscription rights is NOK 1.386 per share.
What is the vesting schedule for the subscription rights?
The vesting schedule varies; most rights vest at 10%, 20%, and 70% over three years, while a smaller set vests at 50% each after one and two years.
Where is Ensurge’s manufacturing facility located?
The manufacturing facility is located in Silicon Valley, utilizing advanced production techniques to maximize efficiency and output.
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