Incentive Program to Handicare’s new President and CEO
The Board of Directors of Handicare Group AB (publ) (”Handicare”) has today been informed by its largest shareholder, a Nordic Capital Fund VII controlled entity, that it has granted 2,500,000 call options that entitles to purchase of 2,500,000 Handicare shares, to Handicare’s Acting President and CEO Johan Ek in order to further align his interests with the shareholders’.
The call option grant to Johan Ek does not result in any dilution for Handicare’s other existing shareholders nor does it inflict any additional costs for the company.
The call options have been purchased on market terms and the value of the call options has been calculated by an independent valuation institute using a standard valuation model (Black-Scholes). Each option entitles to the purchase of one Handicare share during the period 23-31 May 2022. The exercise price is SEK 30 per share, corresponding to 135 per cent of the volume-weighted average purchase price for the Handicare share on Nasdaq Stockholm during the period from 24 March to 23 April 2020. The number of shares that each call option entitles the holder to acquire and the exercise price are subject to recalculation upon certain corporate events.
The program has been prepared by Nordic Capital together with external advisors.
For more information, contact:
Pernilla Lindén, CFO & IR, Tel +46 708 775 832
Handicare offers solutions to increase the independence of disabled or elderly people, and to facilitate for their care providers and family. The offering encompasses a comprehensive range of curved and straight stairlifts, transfer, lifting and repositioning aids and vehicle adaptations. Handicare is a global company with sales in more than 40 countries and is one of the market leaders in this field. The head office is in Stockholm, Sweden and manufacturing and assembly is located at five sites distributed across North America, Asia and Europe. In the twelve-month period to March 2020, revenue amounted to MEUR 265 and the adjusted EBITA margin was 7.6%. Employees amounted to 1,034 and the share is listed on Nasdaq Stockholm. For more information, www.handicaregroup.com.