Senior executives in Minesto have acquired 640,000 warrants under the employee stock option plan PO3.
With a subscription price of SEK 7.14 and subscription period during the third quarter of 2019, the terms are in line with the warrants TO2 that will be issued in Minesto’s ongoing rights issue with a subscription price of SEK 7.00 and subscription period in February 2019, according to the Swedish tidal energy developer.
In addition to senior executives, key personnel and other staff in Minesto have acquired a total of 1,173,928 warrants under the employee stock option plan PO3, the company said.
The plan comprises a total of 1,813,928 warrants, which at full subscription amount to SEK 12,951,445 ($1.61 million).
The warrants in PO3 entitle the holder to subscribe for a new share in Minesto AB at a subscription price of SEK 7.14 during the period that will run from January 7, 2019 until September 30, 2019.
In addition to the warrants to be acquired under PO3, Minesto’s CEO Martin Edlund holds additional employee stock options in Minesto, registered in 2013, with a subscription period running until December 31, 2019.