Resolution from the Extraordinary General Meeting on 28 October 2021 - Nordnet Bank AB
2021-10-28

Resolution from the Extraordinary General Meeting on 28 October 2021

It was resolved at an Extraordinary General Meeting on 28 October 2021 to establish a warrant plan for all employees in the Nordnet Group, including issue and transfer of warrants.

The objective of the warrant plan is to strengthen the link between the work of the employees and created shareholder value. By that means, it is considered that there will be an increased alignment of interests between the participants and shareholders in Nordnet.

The right to subscribe for the warrants shall, with deviation from the shareholders’ preferential rights, be granted to a wholly-owned subsidiary of Nordnet, with the right and obligation to transfer the warrants to those employees of Nordnet that wish to participate in the warrant plan. The subsidiary subscribes for the warrants free of charge and transfers them to the employees at market price.

According to the terms of the warrant plan, the following shall apply. How many warrants an employee is entitled to invest in depends on which category of employees the employee belongs to. Each warrant shall entitle to subscription of one (1) share in Nordnet at an exercise price of 120 percent of the average volume-weighted price paid for the Nordnet share on Nasdaq Stockholm during the period from and including 1 November 2021 up until and including 5 November 2021. The warrants may be exercised to subscribe for shares in Nordnet in accordance with the terms and conditions for the warrant plan during the following subscription periods:

  • from and including the day following the publication of the interim report for the period 1 January – 30 September 2024 and for a period of two weeks thereafter, but not earlier than 14 October 2024 and not later than 9 December 2024, and
  • from and including the day following the publication of the year-end report for the period 1 January – 31 December 2024 and for a period of two weeks thereafter, but not earlier than 13 January 2025 and not later than 24 March 2025.
  • Nordnet will issue a maximum of 2,780,586 warrants within the scope of the warrant plan. The warrant plan may therefore lead to issuance of a maximum of 2,780,586 shares, corresponding to a dilution of approximately 1.10 per cent of the total number of shares and votes in the company (subject to any recalculation, see further in the complete terms).

    The maximum number of warrants is based on a preliminary market value of SEK 11.64 per warrant, calculated by use of Black & Scholes pricing model. The preliminary valuation is based on a market value of the underlying share of SEK 156.35 (which corresponds to the closing price of the Nordnet share on 22 September 2021), an assumed exercise price of SEK 187.62 per share and a value limitation further described in the complete terms.

    The final maximum number of warrants will be determined by the market value per warrant at the time of transfer, with the limitation that the total number of warrants that may be issued and transferred may not exceed 2,780,586.

    If all warrants are subscribed for and exercised, the increase of Nordnet’s share capital would amount to SEK 13,902.93.

    The complete terms for participation in the warrant plan and further information are available on the company’s website www.nordnetab.com.

    For further information, contact:
    Johan Tidestad, Chief Communications Officer
    johan.tidestad@nordnet.se, +46 708 875 775

    Nordnet is a pan-Nordic leading digital platform for savings and investments. Through innovation, simplicity and transparency, we challenge traditional structures, and give private savers access to the same information, tools and services as professionals. Visit us at www.nordnetab.com, www.nordnet.se, www.nordnet.no, www.nordnet.dk or www.nordnet.fi.