New warrant programme
Announcement No. 15 /2025
31 March 2025
CVR No. 15701315
Grant of warrants to the Executive Board and Managers at SP Group A/S
Today, the Board of directors decided to establish a warrant agreement for the Executive Board and 36 managers in the Group. The agreement is based on warrants issued pursuant to the Articles of Association, item 5, subsection 4, that empowers the Board of Directors to use this authority. The warrant plan was adopted by the Board of Directors at the General Meeting in 2024. 53,000 warrants will be issued, of which 12,000 are granted the Executive Board and the remaining warrants are granted the Managers.
The granting is motivated in a wish for linking the Managers closer to the Group.
The exercise price for each warrant is DKK 340.00 nominally DKK 2 shares plus 7.5 % p.a. as of 1 April 2025 and until exploitation happens. The exercise price is fixed based on closing price Friday, 28 March.
The Warrants entitle the owner to subscribe shares in the Group from 1 April 2028 to 31 March 2031, provided that the acquisition exclusively takes place in the first two weeks of the period of time in which the Managers pursuant to the internal rules of the Group are allowed to trade the Group’s shares.
It is estimated that the Warrants will have a value of DKK 47.74 for each warrant with a total market value of DKK 2,530,104. The market value of the Warrants is calculated by application of the Black-Scholes formula and a historical volatility of 35.6 % based on the share price of the Group during the latest 12 months, an interest rate of 1.91 % p.a., a share prices of DKK 309.5 (closing price on 28 March 2025) and provided that the granted warrants will be utilised in April 2028. Any dividend distribution in the period of time is taking into account.
If the above participants resign from the subsidiary in the Group where he/she is engaged, the number of Warrants will be reduced relatively taking into account that the participant just has had a relation to the Group in some of the warrant plan’s maturity period.
For further information:
CEO Lars Bering
Phone: +45 70 23 23 79
In case of any discrepancies, the Danish version shall prevail.