Allocation of warrants

On 26 April 2021, the annual general meeting of LED iBond International A/S (the “Company”) authorized the board of directors (the “Board”) to issue up to 16,470 warrants, each of which can be exercised to subscribe for twenty shares of DKK 0.05 each, i.e., up to a total of 329,400 shares.

Participants in the Company’s existing warrant program have been offered to receive warrants under the new program provided that the warrants received under the existing program are not exercised. The majority of the participants in the existing program have elected to receive warrants under the new program.

Today, the Board has therefore decided to exercise part of its authorization to issue and grant warrants (share subscription rights), and has thus issued a total of 7,034.40 warrants, each of which can be exercised to subscribe for twenty shares of nominally DKK 0.05 each in the Company, i.e. a total of 140,688 shares.

At the same time, the Board adopted the terms of the capital increases of up to nominally DKK 7,034.40 arising from the exercise of the warrants.

The allocation of warrants issued today are as follows:

Key terms:

• The strike price upon exercise is DKK 8.10 per share of DKK 0.05.
• Warrants may be exercised during a period of 3 weeks following publication of the Company’s annual, semi-annual or quarterly reports.
• Warrants can be exercised partially but no less than 300 at one time.
• Warrants must be exercised no later than 3 years from the issue and grant.
• Warrants will not be lost upon termination of employment or affiliation with the Company.
• If all warrants are exercised, the share capital of the Company shall be increased by DKK 7,034.40 upon payment of DKK 1,139,572.80 to the Company.

The complete terms and conditions applicable to the warrants are included as Appendix 2 to the Company's Articles of Association.