LINK Mobility - Employee share purchase program (ESPP) share issuance
LINK Mobility Group Holding ASA (LINK) refers to the extraordinary general meeting (EGM) on 7 December 2021 where a share purchase program (ESPP) for employees was approved. LINK's board of directors' authorization to increase the share capital of the company in relation to incentive schemes was renewed at the annual general meeting (AGM) held on 31 May 2022.
Under the terms of the ESPP, all employees have been given the opportunity to apply for shares for up to a maximum amount of NOK 100,000. The program has received strong interest with 588,127 shares subscribed for in June 2022 (reference is made to announcement by LINK on 3 June 2022) and an additional 131,972 shares subscribed for now in November 2022. The shares are subject to a lock-up period of 12 months. Upon allocation, the subscription price of the shares in November 2022 was set to NOK 6.954, based on a valuation of NOK 8.692, which corresponds to the seven-day volume weighted average LINK share price (VWAP) prior to the final day of the subscription period, 20 November 2022, to which a 20 per cent discount was applied. As part of ESPP, employees may, after a vesting period of two years, receive 1 matching share (subject to payment of the nominal value per share only) per 3 shares subscribed for subject to certain conditions being fulfilled.
Based on the subscription for shares by employees, the board has today resolved to increase the company's share capital with NOK 659.86 from NOK 1,478,849.19 to NOK 1,479,509.05 by issuing 131,972 new shares at a subscription price of NOK 6.954 per share, each with a nominal value of NOK 0.005.
Following registration of the share capital increase with the Norwegian Register of Business Enterprises, the company will have a share capital of NOK 1,479,509.05, divided into 295,901,810 shares, each with a nominal value of NOK 0.005.
The following primary insider subscribed for shares under ESPP and gained the right to matching shares:
Morten Løken Edvardsen, Interim CFO, was allocated 11,504 shares under ESPP. After completion of the share capital increase, Morten Løken Edvardsen will hold 18,099 shares in the company. In addition, Morten Løken Edvardsen holds 116,000 LTI share options, 5,114 RSUs and the right to 3,834 matching shares under ESPP.
Primary insider notification pursuant to the EU Market Abuse Regulation Article 19 is attached.
For further information, please contact
Tom Rogn, VP Investor Relations
+47 94 85 56 59
tom.rogn@linkmobility.com
About LINK Mobility
LINK is an award-winning, leading global provider of mobile messaging and communications platform as a service (CPaaS) solutions for increased engagement. The company serves enterprise, SME, and government customers. LINK offers a wide range of innovative and scalable mobile solutions, creating valuable digital convergence between businesses and customers, governments and citizens, platforms and users. LINK has 50,000 customer accounts globally and exchanges 15 billion messages a year. LINK is listed on the Oslo Stock Exchange under the ticker LINK. For more information about LINK, please see www.linkmobility.com and follow LINK Mobility on LinkedIn.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.