No. 6 2014 Grant of options to the Executive Board and management team
(OMX Via Acquire Media NewsEdge)
Solar’s Board of Directors will grant a total of 24,092 options in 2014. The
total market value is € 0.3m.
The Board of Directors will grant options to the Executive Board and management
team again in 2014. The exercise price is fixed at DKK 380.64 based on the
average price on NASDAQ OMX Copenhagen for the first 10 business days after
publication of Annual Report 2013. 24,092 options will be granted in 2014.
The market value of the options granted has now been determined at € 0.3m.
Market value is calculated using the Black-Scholes model with a volatility of
34% (calculation based on the past 36 months), an interest-rate level of 4% and
a share price of DKK 380.64. The grant is governed by the provision that
options granted will be exercised in March 2017. The measurement takes into
consideration future dividend distribution of 2% of the share price.
Background information about Solar’s incentive scheme
In 2006, the Board of Directors set up an incentive scheme for the Executive
Board, adding the Solar Group management team to the scheme in 2008. The scheme
is based on options that entitle the holder to buy shares from the company's
holding of treasury shares. The reason for introducing the scheme was to seek
to bind employees closer to the group and create a share price-dependent
incentive for participants, thus enhancing agreement between the interests of
shareholders and participants.
Today, share options outstanding total 107,464.
Chairman of the Board of Directors
Solar A/S was established in 1919 and listed on the Copenhagen Stock Exchange
in 1953. Solar is one of Northern Europe’s leading technical wholesalers within
electrical, heating, plumbing and ventilation products. The group, based in
Kolding, Denmark, has subsidiaries in Denmark incl. the Faroes, Sweden, Norway,
the Netherlands, Belgium, Germany, Poland and Austria. In 2013, Solar Group
revenue totalled € 1,531.5m, equating DKK 11.4bn. The group currently has some
For more information, please visit www.solar.eu.
This announcement was published in Danish and English today via NASDAQ OMX
Copenhagen. In case of any discrepancy between the two languages, the Danish
version shall prevail.
Copyright © 2014 OMX AB (publ).
Copyright © 2014 OMX AB (publ)
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