Share Issue/Capital Change • May 8, 2013
Share Issue/Capital Change
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BILAG 8.1.B TIL VEDTÆGTER FOR EXHIBIT 8.1.B TO THE ARTICLES OF ASSOCIATION FOR ZEALAND PHARMA A/S ZEALAND PHARMA A/S
| 1 | FORMÅL 3 |
|---|---|
| 1 | PURPOSE 3 |
| 2 | TILDELING AF WARRANTS 3 |
| 2 | GRANT OF WARRANTS 3 |
| 3 | ALMINDELIG UDNYTTELSE AF WARRANTS 3 |
| 3 | ORDINARY EXERCISE OF THE WARRANTS 3 |
| 4 | EKSTRAORDINÆR UDNYTTELSE AF WARRANTS 4 |
| 4 | EXTRAORDINARY EXERCISE OF THE WARRANTS 4 |
| 5 | PRAKTISK UDNYTTELSE AF WARRANTS 4 |
| 5 | PRACTICALITIES IN CONNECTION WITH EXERCISE OF THE WARRANTS 4 |
| 6 | TEGNINGSKURS FOR AKTIER VED UDNYTTELSE AF WARRANTS 5 |
| 6 | SUBSCRIPTION PRICE FOR SHARES IN CONNECTION WITH THE EXERCISE OF |
| WARRANTS 5 | |
| 7 | REGULERING AF VILKÅR FOR WARRANTS VED VISSE DEFINEREDE ÆNDRINGER I |
| SELSKABETS KAPITALFORHOLD 5 | |
| 7 | ADJUSTMENT OF THE CONDITIONS FOR WARRANTS IN CASE OF CERTAIN DEFINED |
| CHANGES IN THE COMPANY'S CAPITAL STRUCTURE 5 | |
| 8 | OMSÆTTELIGHED 5 |
| 8 | TRANSFERABILITY 5 |
| 9 | VILKÅR FOR NYE AKTIER UDSTEDT VED UDNYTTELSE AF WARRANTS 6 |
| 9 | CONDITIONS FOR NEW SHARES ISSUED FOLLOWING EXERCISE OF THE |
| WARRANTS 6 | |
| 10 | KAPITALFORHØJELSE VED UDNYTTELSE AF WARRANTS 6 |
| 10 | CAPITAL INCREASE IN CONNECTION WITH THE EXERCISE OF THE WARRANTS 6 |
| 11 | OMKOSTNINGER I FORBINDELSE MED UDSTEDELSE AF AKTIER 6 |
| 11 | COSTS RELATED TO THE ISSUE OF SHARES 6 |
| 12 | OPHØR AF ANSÆTTELSESFORHOLDET - WARRANTINDEHAVERE, DER ER |
| MEDARBEJDERE 6 | |
| 12 | CEASE OF EMPLOYMENT STATUS - WARRANT HOLDERS WHO ARE EMPLOYEES 6 |
| 13 | INSIDERHANDEL 6 |
| 13 | INSIDER TRADING 6 |
| 14 | SKATTEMÆSSIGE FORHOLD 7 |
| 14 | TAX IMPLICATIONS 7 |
| 15 | SPROG 7 |
| 15 | LANGUAGE 7 |
2.1 Se bilag 8.1.A (ingen ændringer). See exhibit 8.1.A (no changes).
3.1 Warrants kan udnyttes i perioden fra 17. november 2014 til og med 17. november 2016 ("Udnyttelsesperioden") i de i
At the board meeting held in Zealand Pharma A/S (the "Company") on 17 November, the following new provisions were adopted in accordance with Article 8.1 of the Articles of Association concerning the issuing of warrants to certain employees of the Company (the "Warrant Holder") ("Warrants").
The Board of Directors has decided to issue up to 227,085 Warrants in the Company for the subscription of up to 227,085 shares of DKK 1.00 (nominally DKK 227,085) according to Article 8.1 of the Articles of Association.
The subscription of Warrants took place by signing of warrant agreements (the "Warrant Agreements")
The Warrants entitle the Warrant Holder to subscribe for shares on the terms and conditions stipulated in exhibit 8.1.A of the Articles of Association of the Company. However, the following amendments to exhibit 8.1.A shall apply:
The Warrants may be exercised in the period from 17 November 2014 until (and including) 17 November 2016 ("Exercise Peri-
punkt 3.2 anførte udnyttelses-vinduer. Warrants, der ikke er udnyttet på eller før sidste dag af Udnyttelsesperioden, bortfalder automatisk uden yderligere varsel og/eller kompensation til Warrantindehaveren.
4.1 Se bilag 8.1.A (ingen ændringer). See exhibit 8.1.A (no changes).
5.1 Såfremt Warrantindehaveren ønsker at udnytte en Warrant, skal Warrantindehaveren underrette Selskabet elektronisk herom ved hjælp af det IT-system, der er tilgængelig i "Aktionærportalen" på Selskabets hjemmeside. Selskabet har ret til at ændre i de praktiske forhold od") within the windows set forth in Clause 3.2. Warrants which have not been exercised on or before the last day of the Exercise Period will automatically lapse and become void without any further notice and/or compensation to the Warrant Holder.
Within the Exercise Period, the Warrants may be exercised four times a year during a 4-week window starting from the time of publication of either the Company's annual report or quarterly or semi-annual reports (respectively 3, 6 and 9 months).
The Warrant Holder is entitled to exercise all or part of his or her Warrants, however, the Warrant Holder cannot exercise less than 25 per cent of the total number of Warrants granted in accordance with this Agreement at a time.
In the event that the Warrant Holder wishes to exercise Warrants, the Warrant Holder shall electronically give notice to the Company by using the IT system available on "Aktionærportalen" on the Company's website. The Company is entitled to change the practicalities in connection with exercise of
omkring udnyttelse af Warrants, og Warrantindehaveren vil blive underrettet skriftligt, hvis Selskabet beslutter dette.
5.2 Samtidig med at give meddelelse om udnyttelse af Warrants skal Warrantindehaveren indbetale et kontantbeløb til Selskabet svarende til det relevante tegningsbeløb fastsat i henhold til punkt 6.
the Warrants and if so decided by the Company. The Warrant Holder will be notified in writing by the Company.
At the same time as giving notice of the exercise of the Warrants, the Warrant Holder shall pay in cash to the Company an amount equal to the relevant subscription amount fixed under the terms of Clause 6.
6 Subscription Price for Shares in connection with the Exercise of Warrants
Each Warrant entitles the Warrant Holder to subscribe for 1 share in the Company of a nominal value of DKK 1.00 at a subscription price of DKK 50,27 (the "Subscription Price").
The Subscription Price may be regulated as set out in this Agreement.
7 Adjustment of the Conditions for Warrants in case of certain defined Changes in the Company's Capital Structure
13.1 Se bilag 8.1.A (ingen ændringer). See exhibit 8.1.A (no changes).
10 Capital Increase in connection with the Exercise of the Warrants
In the event that the Warrant Holder gives notification on time of the exercise of the Warrants, the Company shall carry out the relating increase of capital.
The maximum increase of capital that may be subscribed on basis of Warrants is nominally DKK 227,085 (up to 227,085 shares at DKK 1.00 each) and the minimum amount is DKK 1.00 (1 share at DKK 1.00) The maximum amount may be increased or reduced in accordance with the provisions on adjustment set forth in Clause 7.
11 Costs related to the Issue of Shares
14.1 Se bilag 8.1.A (ingen ændringer). See exhibit 8.1.A (no changes).
15.1 Se bilag 8.1.A (ingen ændringer). See exhibit 8.1.A (no changes).
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