Grant of warrants
Company Announcement No. 8-2022
Copenhagen, September 19, 2022
Today, Impero’s Board of Directors has decided to exercise a part of its current authorization by issuing 200,000 new warrants to key employees in the Company. 85,000 warrants were granted to the Company’s Chief Financial Officer and the remaining warrants were granted to members of the extended management team.
The warrants are issued in accordance with the authorization in section 4.6 of the Articles of Association.
The exercise price is fixed at DKK 6.14 per share corresponding to the average closing price for the previous ten trading days (September 5, 2022 to September 16, 2022) prior to the date on which the Board of Directors decided to issue the warrants. The warrants issued shall vest in three tranches based on the Company’s achievement of an Annual Recurring Revenue (”ARR”) of DKK 28.0M, ARR of DKK 42.2M and ARR of DKK 65.0M.
Warrants that have not been exercised 14 calendar days after publication of the financial report for the 1st quarter of 2027 will lapse automatically. Warrants can be exercised in periods of four weeks starting the day after publication of the Company’s annual report, half-year report or quarterly report, respectively.
The warrants include conditions on accelerated vesting in case of change of control, e.g., takeover bid, merger, or delisting. The theoretical market value of one warrant granted is DKK 1.70 (calculated using the Black Scholes model). The key assumptions for the calculation are a share price of DKK 6.00 (as of September 16, 2022), an exercise price of DKK 6.14, volatility of 30%, and risk-free interest rate of 1.56%.
“These warrants are issued to members of the extended management team of Impero. The issuing of warrants by the Board of Directors is part of Impero’s ongoing incentive plans, and secures alignment with our shareholders’ interests”, says Rikke Stampe Skov, CEO of Impero.
For further information, please contact:
Impero
Rikke Stampe Skov, CEO
Mobile: (+45) 25 88 41 02
Email: [email protected]
Certified Adviser
Grant Thornton
Jesper Skaarup Vestergaard
Mobile: (+45) 31 79 90 00
ABOUT IMPERO
Impero A/S is a Danish Software-as-a-Service (SaaS) company that provides a compliance management platform. The Impero platform enables companies to easily manage compliance through automation of risk and control management, documentation, and reporting. Impero empowers companies to become more compliant in a scalable, digital, intuitive, and – most importantly – easy way.
For more information about Impero, please visit http://impero.com/investors.
