Warrants&Options

Incentive program for members of executive management and other employees - employee stock options and warrants 2015/2020 series I


The offer shall be addressed to 15 people.


The participants of the program will be offered to, free of charge, acquire employee stock options. Each employee stock option carries the right for the holder to purchase one (1) share in the Company. Each share shall be transferred at a price equal to average closing market price of the Company’s shares during the twenty (20) trading days preceding 12 May 2015 (the date of Annual General Meeting) but not less than the quotient value of the share. The employee stock options may be used until 12 May 2020 with the right for the holder of the employee stock options to call upon the warrant right from the date of vesting and until 12 May 2020.


The employee stock options are not transferrable other than to a legal person appointed by the person participating in the incentive program and which is controlled by him or for which he is the ultimate beneficial owner. Full use of the employee stock options requires that the person in question remains employed by the Group until such time when all employee stock options granted to such person have been vested. One third of the granted employee stock options will be vested on 12 May 2016, one third on 12 May 2017 and the final third on 12 May 2018.


The scope of the program shall not exceed 680,000 employee stock options.


In order to secure that the Company can fulfill its obligations to deliver shares when a holder of the employee stock options wishes to subscribe for them, the Annual General Meeting approved the issue of maximum 680,000 warrants and approved their further transfer as follows. The right to subscribe for warrants shall, with deviation from the preferential rights of the shareholders belong to the wholly owned subsidiary LLC “Auriant Management” for transfer (i) directly to the persons participating in the program or such legal person as the respective individual may appoint and which is controlled by him or of which he is the ultimate beneficial owner and (ii) to another wholly owned subsidiary of the Company and thereafter to persons participating in the program. Subscription for warrants shall be possible to be made latest on 30 June 2015. The warrants shall be issued free of charge and shall also be transferred in accordance with the above provisions free of charge. Each warrant gives the right to subscribe for one (1) share in the Company, each with a quotient value of app. SEK 0.1125. Subscription for shares through exercise of warrants for subscription shall be possible to make from the date of registration with the Companies Registration Office until 12 May 2020. Subscription for shares shall be made at a strike price per share equal to average market closing price of the Company’s shares during the twenty (20) trading days preceding 12 May 2015 (the date of Annual General Meeting), but not less than the quotient value of the share. 


The incentive program for the members of the board - stock options and warrants 2015/2020 series II


The offer shall be addressed to the following members of the Board who were re-elected, namely Andre Bekker, Peter Daresbury, and Ingmar Haga.


The extent of the program was decided to be no more than 170,000 stock options, where Peter Daresbury will be offered 70,000 stock options and Andre Bekker and Ingmar Haga will be offered 50,000 stock options each.


The participants of the program shall be offered to, free of charge, acquire stock options. Each stock option carries the right for the holder to purchase one (1) share in the Company. Each share shall be transferred at a price per share equal to average closing market price of the Company’s shares during the twenty (20) trading days preceding 12 May 2015 (the date of Annual General Meeting) but not less than the quotient value of the share. The stock options may be used until 12 May 2020 with the right for the holder of the stock options to call upon the warrant right from the date of vesting and until 12 May 2020.


The stock options are not transferrable other than to a legal person appointed by the person participating in the incentive program and which is controlled by him or for which he is the ultimate beneficial owner. Full use of the stock options requires that the person in question remains a member of the Board of Directors of the Company until such time when all stock options granted to such person have been vested. One third of the granted stock options will be vested on 12 May 2016, one third on 12 May 2017 and the final third on 12 May 2018.


In order to secure that the Company can fulfill its obligations to deliver shares when a holder of the Stock Options wishes to subscribe for them, the Annual General Meeting approved the issue of maximum 170,000 warrants and approved their further transfer as follows.


The right to subscribe for warrants shall, with deviation from the preferential rights of the shareholders belong to the wholly owned subsidiary LLC “Auriant Management” for transfer (i) directly to Andre Bekker, Peter Daresbury and Ingmar Haga or such legal person as the respective individual may appoint and which is controlled by him or of which he is the ultimate beneficial owner and (ii) to another wholly owned subsidiary of the Company and thereafter to persons mentioned above. Subscription for the warrants shall be made latest on 30 June 2015. The warrants shall be issued free of charge and shall also be transferred in accordance with the above provisions free of charge. Each warrant gives the right to subscribe for one (1) share in the Company, each with a quotient value of app. SEK 0.1125. Subscription for shares through exercise of warrants for subscription shall be possible to make from the date of registration of the warrants with the Companies Registration Office until 12 May 2020. Subscription for shares shall be made at a strike price per share equal to the average market closing price of the Company’s shares during the twenty (20) trading days preceding 12 May 2015 (the date of Annual General Meeting), but not less than the quotient value of the share.


The incentive program for the members of management and other employees – employee stock options and warrants 2014/2019 Series I


The offer will be addressed to 15 people. The participants of the program shall be offered to, free of charge, acquire employee stock options. Each employee stock option carries the right for the holder to purchase one (1) share in the Company. Each share shall be transferred at a price equal to the average closing market price of the Company’s shares during the twenty (20) trading days preceding 13 May 2014 (the date of Annual General Meeting) but not less than the quotient value of the share. The employee stock options may be used until 13 May 2019 with the right for the holder of the employee stock options to call upon the warrant right from the date of vesting and until 13 May 2019, subject to special conditions stated below.


Full use of the employee stock options requires that the person in question remains employed by the Group until such time when all employee stock options granted to such person have been vested. One third of the granted stock options will be vested on 13 May 2015, one third on 13 May 2016 and the final third on 13 May 2017. If the participant of the incentive program resigns or his employment in the Group is otherwise terminated, the vested employee stock options will remain exercisable within six months following the date of such termination, but not thereafter. The extent of the program will not exceed 480 000 employee stock options.


In order to secure that the Company can fulfill its obligations to deliver shares when a holder of the employee stock options wishes to subscribe for them, the Annual General Meeting approved the issue of a maximum of 480,000 warrants and approved their further transfer as follows.


The right to subscribe for warrants shall, with deviation from the preferential rights of the shareholders belong to the wholly owned subsidiary LLC “Auriant Management” for transfer (i) directly to the abovementioned persons participating in the program or such legal person as the respective individual may appoint and which is controlled by him or of which he is the ultimate beneficial owner and (ii) to another wholly owned subsidiary of the Company and thereafter to persons mentioned above.


Subscription for shares through exercise of warrants for subscription shall be possible to make from the date of registration of the warrants with the Companies Registration Office until 13 May 2019.


Subscription for shares shall be made at a strike price per share equal to average closing market price of the Company’s shares during the twenty (20) trading days preceding 13 May 2014 (the date of Annual General Meeting) but not less than the quotient value of the share.  

At full use of the warrants the Company’s share capital may be increased by no more than SEK 5,400,000. 




Incentive scheme to the Board of Directors through issue of stock options and warrants 2014/2019 series II


The re-elected members of the Board namely Andre Bekker, Peter Daresbury, Ingmar Haga and Bertil Villard are covered by the program. The extent of the program was decided to be no more than 160,000 stock options of which each board member will be offered 40,000 stock options.


The Board members shall be offered to, free of charge, acquire stock options. Each stock option carries the right for the holder to purchase one (1) share in the Company. Each share shall be transferred at a price equal to average closing market price of the Company’s shares during the twenty (20) trading days preceding 13 May 2014 (the date of Annual General Meeting) but not less than the quotient value of the share. 

One third of the granted stock options will be vested on 13 May 2015, one third on 13 May 2016 and the final third on 13 May 2017.


The stock options may be used until 13 May 2019 with the right for the holder of the stock options to call upon the warrant right from the date of vesting and until 13 May 2019, subject to the special conditions stated below. However if a Board member resigns, is not re-elected to the Board or his involvement as a member of the Board otherwise terminates, the vested stock options will remain exercisable within six months following such termination, but not thereafter.



In order to secure that the Company can fulfill its obligations to deliver shares when a holder of the employee stock options wishes to subscribe for them, the Annual General Meeting approved the issue of a maximum of 160,000 warrants and approved their further transfer as follows.



The right to subscribe for warrants shall, with deviation from the preferential rights of the shareholders belong to the wholly owned subsidiary LLC “Auriant Management” for transfer (i) directly to the abovementioned persons participating in the program or such legal person as the respective individual may appoint and which is controlled by him or of which he is the ultimate beneficial owner and (ii) to another wholly owned subsidiary of the Company and thereafter to persons mentioned above.



At full use of the warrants the Company’s share capital may be increased by no more than SEK 1,800,000. 



Incentive scheme to members of management and employees of Auriant Mining Group (the “Group”) through issue of employee stock options and warrants 2013/2018 series I


The incentive program for the management and some key employees


The AGM decided to establish an incentive program for the company's management and some key employees through the issue of warrants and Employee Stock Options.


The offer is addressed to 13 people.


The participants of the program will be offered, free of charge, the right to acquire Employee Stock Options. Each Employee Stock Option carries the right for the holder to purchase one (1) share in the Company. Each share shall be transferred at a price of SEK 15 per share. The Employee Stock Options may be used until 15 May 2018 with the right for the holder of the Employee Stock Options to call upon the warrant right from the date of vesting and until 15 May 2018.


Full use of the Employee Stock Options requires that the person in question remains employed by the Group until such time when all Employee Stock Options granted to such person have been vested. One third of the granted stock options will be vested on 15 May 2014, one third on 15 May 2015 and the final third on 15 May 2016.


The scope of the program will not exceed 395,000 Employee Stock Options.


In order to secure that the Company can fulfill its obligations to deliver shares when a holder of the Employee Stock Options wishes to subscribe for them, the Annual General Meeting approved the issue of a maximum of 395,000 warrants and approved their further transfer as follows.


The right to subscribe for warrants shall, with deviation from the preferential rights of the shareholders, belong to the wholly owned subsidiary LLC “Auriant Management” for transfer (i) directly to the persons participating in the program or such legal person as the respective individual may appoint and which is controlled by him or of which he is the ultimate beneficial owner and (ii) to another wholly owned subsidiary of the Company and thereafter to persons mentioned above.


Subscription for warrants shall be possible to be made latest on 30 June 2013.


The warrants will be issued free of charge and shall also be transferred in accordance with the above provisions free of charge.


Each warrant gives the right to subscribe for one (1) share in the Company, each with a quotient value of SEK 11.25. Subscription for shares through exercise of warrants for subscription shall be possible to make from the date of registration with the Companies Registration Office until 15 May 2018.


Subscription for shares will be made at a strike price per share of SEK 15. 


Incentive scheme to the Board of Directors through issue of stock options and warrants 2013/2018 series II


The re-elected members of the Board namely Andre Bekker, Peter Daresbury, and Ingmar Haga, as well as Sergey Kashuba and Bertil Villard who are proposed for election are covered by the program.


The extent of the program was decided to be no more than 150,000 stock options with Board members participating in the program offered 30,000 stock options each.


The participants of the program will be offered, free of charge, the right to acquire stock options. Each stock option carries the right for the holder to purchase one (1) share in the Company. Each share shall be exercised at a price of SEK 15 per share. The stock options may be used until 15 May 2018 with the right for the holder of the stock options to call upon the warrant right from the date of vesting and until 15 May 2018.


Full use of the stock options requires that the person in question remains a member of the Board of Directors of the Company until such time when all stock options granted to such person have been vested. One third of the granted stock options will be vested on 15 May 2014, one third on 15 May 2015 and the final third on 15 May 2016.


In order to secure that the Company can fulfill its obligations to deliver shares when a holder of the stock options wishes to subscribe for them, the Annual General Meeting approved the issue of a maximum of 150,000 warrants and also approved that they be further transferred as follows.


The right to subscribe for warrants shall, with deviation from the preferential rights of the Shareholders belong to the wholly owned subsidiary LLC “Auriant Management” for transfer (i) directly to Andre Bekker, Peter Daresbury, Ingmar Haga, Sergey Kashuba and Bertil Villard or such legal person as the respective individual may appoint and which is controlled by him or of which he is the ultimate beneficial owner and (ii) to another wholly owned subsidiary of the Company and thereafter to persons mentioned above.


Subscription for the warrants shall be made latest on 30 June 2013.


The warrants shall be issued free of charge and shall also be transferred in accordance with the above provisions free of charge.


Each warrant gives the right to subscribe for one (1) share in the Company, each with a quotient value of SEK 11.25. Subscription for shares through exercise of warrants for subscription shall be possible from the date of registration of the warrants with the Companies Registration Office until 15 May 2018. Subscription for shares shall be made at a strike price per share of SEK 15. 


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