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Genmab — Remuneration Information 2010
Dec 9, 2010
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Download source fileCopenhagen, Denmark; December 9, 2010 - Genmab A/S (OMX: GEN) announced today
that on a board meeting the board decided to issue 118,000 warrants to
management and employees of the company as well as the company's subsidiaries.
The exercise price for each warrant is DKK 66.60. Each warrant entitles the
owner to subscribe one share of nominally DKK 1. On the basis of an exercise
price of DKK 66.60 and by application of the Black-Scholes formula, the average
value of each warrant can be calculated as DKK 37.29 based on an interest rate
of 1.8948% and the historical volatility of Genmab A/S shares calculated at
64.15%.
The warrants vest in blocks of 25% one, two, three and four years after the
grant date, and all warrants expire at the tenth anniversary of the grant date.
The new warrants were granted pursuant to the warrant plan adopted by the board
on August 3, 2004. Information concerning Genmab's warrant schemes can be found
on www.genmab.com under the heading ‘warrant scheme'.
About Genmab A/S
Genmab is a leading international biotechnology company focused on developing
fully human antibody therapeutics for the potential treatment of cancer.
Genmab's world class discovery and development teams are using cutting-edge
technology to create and develop products to address unmet medical needs. Our
primary goal is to improve the lives of patients who are in urgent need of new
treatment options. For more information on Genmab's products and technology,
visit www.genmab.com.
Contact:
Helle Husted, Vice President, Investor Relations
T: +45 33 44 77 30, M: +45 25 27 47 13, E: [email protected]
This Stock Exchange Release contains forward looking statements. The words
“believe”, “expect”, “anticipate”, “intend” and “plan” and similar expressions
identify forward looking statements. Actual results or performance may differ
materially from any future results or performance expressed or implied by such
statements. The important factors that could cause our actual results or
performance to differ materially include, among others, risks associated with
product discovery and development, uncertainties related to the outcome and
conduct of clinical trials including unforeseen safety issues, uncertainties
related to product manufacturing, the lack of market acceptance of our products,
our inability to manage growth, the competitive environment in relation to our
business area and markets, our inability to attract and retain suitably
qualified personnel, the unenforceability or lack of protection of our patents
and proprietary rights, our relationships with affiliated entities, changes and
developments in technology which may render our products obsolete, and other
factors. For a further discussion of these risks, please refer to the section
“Risk Management” in Genmab's Annual Report, which is available on
www.genmab.com. Genmab does not undertake any obligation to update or revise
forward looking statements in this Stock Exchange Release nor to confirm such
statements in relation to actual results, unless required by law.
Genmab(R); the Y-shaped Genmab logo(R); HuMax(R); HuMax-CD20(R); HuMax-EGFr(TM);
HuMax-IL8(TM); HuMax-TAC(TM); HuMax-HepC(TM); HuMax-CD38(TM); HuMax-TF(TM);
HuMax-Her2(TM); HuMax-Wnt(TM); HuMax-cMet(TM) and UniBody(R) are all trademarks
of Genmab A/S. Arzerra(R) is a trademark of GlaxoSmithKline.
Stock Exchange Release no. 46