Options program 2006/2009
In December 2006 Orc Software launched an options program based on 400,000 warrants for Orc Software employees. The program has a duration of three years and runs until December 31, 2009. The program consists of two parts: warrants for employees in Sweden and options related to employment for employees outside Sweden. At the end of 2006 employees in Sweden had subscribed for 93,700 warrants and 221,800 options had been allocated to employees outside Sweden. The warrant price for employees in Sweden was set at SEK 10.02. The strike price is SEK 124. Each option entitles the holder to acquire one newly issued share in the company.
The issue is estimated to have a maximum dilutive effect of 2.6 percent of the shares and votes in the company. The share capital may increase by a maximum of SEK 40,000.
It is the intention of the Board of Directors that the program be recurring and that the matter be submitted to the 2008 Annual General Meeting.
| Options program |
2006/2009 |
| No of warrants |
400,000 |
| Strike price (SEK) |
124 |
| No. of subscribed warrants and options at December 31, 2006 |
315 500 |
| Increased equity if fully subscribed (SEK) |
40 000 |
| Corresponding share of capital |
2.6% |
The principal costs for the program consist of salary costs, including social security charges for employees outside Sweden and are estimated at approximately SEK 2.3 million over a two-year period.
The options program is reported in accordance with IFRS 2 and URA 46. Earnings per share and dilutied earnings result per share are accounted for in accordance with IAS 33.
Full terms and conditions for the options program in the files below:
The board of Directors' proposed resolution (PDF)
Terms and conditions (PDF)