Regulatory release 27
The board of directors of Better Collective has on a meeting held on September 13, 2019 resolved to implement the long-term incentive program approved by the extraordinary general meeting held on 24 June 2019 and thereby to issue 1,099,500 warrants to certain key employees and members of management pursuant to the authorisation granted by the aforementioned extraordinary general meeting.
The warrants are issued in accordance with the company's guidelines for incentive-based remuneration and the authorisation set out in section 5.5 and in schedule 4 to the company's articles of association.
Each warrant grants the holder the right to subscribe for one share in the company. The exercise price will be determined as the Volume Weighted Average Share Price of Better Collective's shares traded on Nasdaq Stockholm in the 10 business days to follow from the date of this announcement + 10%.
The warrants will vest over a three or four-year period with 1/3 or 1/4 annually. Vesting of the warrants will further be subject to the Company achieving certain financial targets. In the event that the annual financial vesting targets are not met, the proportional vesting for that period will be reduced with up to 50% percent. If none of the vesting targets have been met, the warrants for that respective period will not vest.
Further details of the long-term incentive program, including costs, can be found in the notice to the extraordinary general meeting published by the Company on 31 May 2019.
The detailed terms of all warrants issued by the Company can be found in the articles of association on www.bettercollective.com.
Investor Relations: Christina Bastius Thomsen +45 2363 8844
This information is such information as Better Collective A/S is obliged to make public pursuant to the Issuer Rules of Nasdaq Stockholm. The information was submitted for publication, through the agency of the contact persons set out above, at 17.40 am CET on September 13, 2019.
About Better Collective
Better Collective'svision is to empower iGamers through transparency and technology - this is what has made them the world's leading developer of digital platforms for betting tips, bookmaker information and iGaming communities. Better Collective's portfolio includes more than 2,000+ websites and products, among other bettingexpert.com, the trusted home of tips from expert tipsters and in depth betting theory.
- BC regulatory release no. 27_2019 Warrants issue_13.09.2019 (https://ml-eu.globenewswire.com/Resource/Download/f368d14b-a9a7-48ab-bc61-6a24aeb4b5b4)