- Lundbeck increases its share capital by 19,284 shares (0.01% of outstanding shares) as a result of employee warrant exercise
H. Lundbeck A/S (Lundbeck) today announced that it has decided to increase its share capital by DKK 96,420 as a consequence of the exercise of employee warrants.
The increase is affected without any preemption rights for the existing shareholders of the company or others. The shares are subscribed in cash at the following prices per share of nominally DKK 5: 19,284 shares at DKK 115. Proceeds to the company are approximately DKK 2.2 million (approximately USD 0.4 million). The increase corresponds to approximately 0.01% of the company’s share capital.
The new shares are ordinary shares without any special rights and are freely transferable negotiable instruments. The new shares shall give rights to dividends and other rights in relation to the company as of subscription, i.e. inter alia full rights to dividends for the financial year 2011. The new shares will be listed on NASDAQ OMX Copenhagen after registration with the Danish Commerce and Companies Agency. Lundbeck’s current share capital amounts to DKK 980,583,170 and will after the capital increase be DKK 980,679,590. The capital increase is expected to be finalised shortly.
As communicated in connection with the company’s results for the first nine months of 2010 (3 November 2010), Lundbeck operates with Long-Term Incentive schemes (LTI) for the executive management and key employees in Denmark and abroad. To fund the programme Lundbeck will buy the necessary Lundbeck shares in full compliance with the existing NASDAQ OMX Copenhagen rules regarding trading with treasury shares and Lundbeck’s internal rules.
The number of treasury shares included in the schemes currently amounts to less than 0.1% of the share capital per scheme. The purchases to fund the programme will be made as late as possible in order to mirror the final number needed. For the 2012 and 2013 transfer of shares, the corresponding figures are 89,740 and 94,953 shares, which is equal to approximately DKK 12 million and DKK 13 million at the present share price.
The schemes are charged continuously to the P&L and the purchase of treasury shares will have no effect on the P&L.