NOTICE OF EXTRAORDINARY GENERAL MEETING IN HOYLU AB (PUBL)

Published by jamie on

Hoylu AB (publ) (the “Company“) hereby convenes to extraordinary general meeting.

The shareholder CeWi Invest AS proposes that the extraordinary general meeting shall resolve on a share issue directed to the Company’s employees, consultants and the members of the board of directors. The subscription price of the shares shall amount to 100 per cent of the volume-weighted average closing price of the Company’s share between 24 August 2017 and 6 September 2017. The group of individuals to whom the proposed share issue is directed has in advance notified an interest in subscribing for shares amounting to a total of SEK 3,800,000.

Pursuant to the proposal, for each subscribed and paid share two (2) synthetic options shall be allocated to the subscriber. For each share that the CEO of the Company has subscribed and paid for, four (4) synthetic options shall be allocated to the CEO. The strike price of the synthetic options is 200 per cent of the subscription price. The synthetic options entitle the holder to a cash payment corresponding to the difference between the strike price and the market value of the Company’s share on 30 September 2020. The holder is entitled to exercise the synthetic options earlier should a change of control occur due to a public takeover.

The purpose of the share issue and the synthetic option program is to create involvement for the participants as regards opportunities and risks in the Company’s development as well as to assure that the participants share the Company’s objects to create a profitable growth and long-term development. The need for the program should be seen in view of the fact that the Company operates on a global market and that the majority of the individuals subject to the program are active in markets where share-related incentive programs are a normal part of the total compensation.

For further information and details about the program, please see the notice of the extraordinary general meeting under Regulatory News – Swedish.

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