I. The Annual General Meeting held on March 17, 2005, decided to authorize the Board of Directors to issue option rights. By virtue of the authorization the Board of Directors granted 4,500,000 option rights to the Company´s management and EB´s fully owned subsidiary serving as a reserve company in the stock option scheme. Subscriptions made by virtue of the 2005 option rights may increase the share capital of Elektrobit Corporation by a maximum of EUR 450,000 and the number of shares by a maximum of 4,500,000. The share subscription period for stock options 2005A is 1 April 2008 30 April 2010, for stock options 2005B 1 April 200930 April 2011, for stock options 2005C 1 April 201030 April 2012, and for stock options 2005D 1 April 201130 April 2013. No subscriptions were made by the end of the share subscription period for stock options 2005A-D.
II. The Annual General Meeting of March 14, 2008, decided to issue stock options to EB´s key personnel. The maximum number of stock options shall be 4,200,000, of which 1,400,000 shall be marked with the symbol 2008A, 1,400,000 shall be marked with the symbol 2008B and 1,400,000 shall be marked with the symbol 2008C. The stock options entitle to subscription of a maximum total of 4,200,000 new shares of the Company or treasury shares. The proportion of the shares that can be subscribed using the stock options to be issued will be a maximum total of 3.1 per cent of the Company´s shares and associated voting rights after a possible share subscription, should new shares be issued in the subscription. The subscription price for the shares to be subscribed based on the stock options shall be based on the prevailing market value of the Elektrobit Corporation share at NASDAQ OMX Helsinki in January 2009, January 2010 and January 2011. The subscription price will be recorded in the fund for invested unrestricted equity. The share subscription period for stock options 2008A is 1 April 201231 March 2014, for stock options 2008B 1 April 201331 March 2015, and for stock options 2008C 1 April 201431 March 2016.
The Board of Directors of Elektrobit Corporation decided on June 5, 2013 on the transfer of stock options 2008A and 2008B to the Finnish book-entry system and to apply for listing of 1,400,000 stock options 2008A and of 1,400,000 stock options 2008B on the official list of NASDAQ OMX Helsinki. The trading with the stock options started on June 17, 2013. The share subscription period for stock options 2008A will end on March 31, 2014. The share subscription period for stock options 2008B will end on March 31, 2015.
Pursuant to series 2008A-B stock options a total of 97,500 new shares were subscribed for between April 2 and June 20, 2013, a total of 120,834 new shares were subscribed for between June 21 and August 22, 2013, a total of 89,356 new shares were subscribed for between August 22 and October 8, 2013 and a total of 380,495 new shares were subscribed for between October 21, 2013 and November 21, 2013. The share subscription prices were recorded in the Company´s invested non-restricted equity fund. The respective increases in the number of the Company´s shares were entered into the Finnish Trade Register on July 5, 2013, September 6, 2013, October 18, 2013, and December 4, 2013. The trading with the registered shares started on July 8, 2013, September 9, 2013, on October 21, 2013, and on December 5, 2013 in NASDAQ OMX Helsinki. After the registration of the new shares, the number of shares in Elektrobit Corporation´s totaled 130,100,875.
The Extraordinary General Meeting of Elektrobit Corporation, held on December 4, 2013, resolved in accordance with the proposal of the Board of Directors that on the basis of the financial statements adopted for the financial period ended on December 31, 2012, funds from the invested non-restricted equity fund be distributed to shareholders as a repayment of capital. As a result of the capital repayment the subscription prices of shares pursuant to the series 2008A-C stock options has been reduced with the amount of the capital repayment per share on the record date of the capital repayment in accordance with the terms of the stock options. Hence the share subscription price pursuant to stock options 2008A has reduced to EUR 0.07, pursuant to stock options 2008B to EUR 0.73 and pursuant to stock options 2008C to EUR 0.61.
The Board of Directors of Elektrobit Corporation has decided on the transfer of series 2008C stock options to the Finnish book-entry system on December 20, 2013 and to apply for listing of 1,400,000 stock options 2008C on the official list of NASDAQ OMX Helsinki. Application was made for the listing to commence on April 1, 2014. The share subscription period for series 2008C stock options will commence on April 1, 2014 and will end on March 31, 2016. The share subscription price for series 2008C stock options is EUR 0.61 per share. The amount of the dividend or the amount of the distributable nonrestricted equity decided before share subscription will be deducted from the share subscription price as per the dividend record date or the record date of the repayment of equity.
More information and the terms and conditions of stock options 2008 are available in the Company´s web pages at www.elektrobit.com/investors.