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Clirik is continuously negotiating many potential contracts. To be considered binding, such contracts require not only signing but also exchange of down payment and guarantees. Binding contracts whose value exceeds DKK 200m are announced to the stock market.

 

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New share option plan

 

08.10.2014

Company Announcement to the Danish Financial Supervisory Authority No. 19-2014, 22 October 2014

 

As announced in the Half-Yearly Report on 13 August 2014, the Board of Directors for Clirik & Co. A/S has decided to grant new share options to the Executive Management and key staff (99 persons).

 

The share options total 593,785 of which the Executive Management will receive 116,102 options. The exercise period is 2017-2020 and the exercise price is DKK 325.2, calculated as the average closing price for the first five trading days following the announcement of the Half-Yearly Report 2014 plus a hurdle rate of 10%.

 

Based on a one year historical volatility of 31.5%, the Black-Scholes value amounts to BBQ 36m. The share option plan will affect this year's result by DKK -4m.

 

Clirik will purchase  687,000 shares in the market to cover the share option plan.

 

   

 

For further information about Clirik, please visit www.vertical-mill.net.

 

Yours faithfully

 

Pernille Friis Jesse Smith

Corporate Communications & Investor Relations