Reference is made to the stock exchange announcement of 25 February 2015 and the Board of Directors’ resolution to implement a share option scheme for the executive management team and certain other key employees.
The strike price has been set to NOK 76.08, based on the volume weighted average share price of XXL’s shares on the Oslo Stock Exchange during the last five trading days (25 February to 3 March 2015), and a total of 625,665 share options were granted. The share options are exercisable three years after the grant date (3 March 2015) subject to key performance criteria (EBITDA-target) being met and subject to the option holder being employed in XXL at the date of the exercise.
The theoretical value of the share option program is NOK 8.25 million, calculated according to the Black-Scholes model.
The following primary insiders have been granted share options according to the above and have, following this, the following number of shares and options in XXL ASA:
- Fredrik Steenbuch, CEO, has been granted 41,711 share options. Following this, he holds 3,289,566 shares and 41,711 share options in XXL ASA including ownership of closely related parties.
- Krister Pedersen, CFO, has been granted 41,711 share options. Following this, he holds 307,816 shares and 41,711 share options in XXL ASA including ownership of closely related parties.
- Anders Fjeld, Managing Director Norway, has been awarded 41,711 share options. Following this he holds 1,339,079 shares and 41,711 share options in XXL ASA including ownership of closely related parties.
- Marcus Wibergh, Managing Director Sweden, has been awarded 41,711 share options. Following this, he holds 405,822 shares and 41,711 share options in XXL ASA including ownership of closely related parties.
- Toni Stigzelius, Managing Director Finland, has been awarded 41,711 share options. Following this he holds 73,547 shares and 41,711 share options in XXL ASA including ownership of closely related parties.
- Harald Borgen, Supply chain and Process improvement Director, has been awarded 41,711 share options. Following this, he holds 96,662 shares and 41,711 share options in XXL ASA including ownership of closely related parties.
- Tolle O. R. Grøterud, Head of Business Development and IR, has been awarded 41,711 share options. Following this, he holds 24,137 shares and 41,711 share options in XXL ASA including ownership of closely related parties.
- Tommi Jylha-Vuorio, Director Multichannel & E-commerce, has been awarded 41,711 share options. Following this, he holds 20,192 shares and 41,711 share options in XXL ASA including ownership of closely related parties.
- Tom Erik Kjønø, Purchasing and Marketing Director, has been awarded 41,711 share options. Following this, he holds 425,813 shares and 41,711 share options in XXL ASA including ownership of closely related parties.
- Geir Nielsen, Central Warehouse Director, has been awarded 41,711 share options. Following this, he holds 2,633,915 shares and 41,711 share options in XXL ASA including ownership of closely related parties.
- Lars Rugaas, Head of Purchasing, has been awarded 41,711 share options. Following this, he holds 43,812 shares and 41,711 share options in XXL ASA including ownership of closely related parties.
- Espen Terland, IT Director, has been awarded 41,711 share options. Following this, he holds 175,919 shares and 41,711 share options in XXL ASA including ownership of closely related parties.
For further queries, please contact:
Tolle O. R. Grøterud, Head of Investor Relations, XXL ASA
Tel: +47 90 27 29 59
E-mail: ir@xxlasa.com
About XXL ASA
XXL is a leading sports retailer with stores and e-commerce in Norway, Sweden and Finland. It is the fastest growing among the major sports retailers in the Nordic. XXL pursues a broad customer appeal, offering a one stop shop experience with a wide range of products for sports, hunting, skiing, biking and other outdoor activities. XXL's concept is to have the largest stores with the lowest prices and the widest assortment of products, focusing on branded goods