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Otovo ASA — Share Issue/Capital Change 2021
Sep 20, 2021
3705_rns_2021-09-20_8ba94b57-8c34-4a65-9f65-c98a93129bcb.html
Share Issue/Capital Change
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Issuance of shares to new GM in Otovo Germany
Issuance of shares to new GM in Otovo Germany
On 20 September 2021 the Otovo Board of Directors resolved to issue 110,159 shares under the authorisation given at the company’s general meeting on 15 December 2020 to allow Christian Rahn, the new general manager of Otovo Germany, to participate in the employee share purchase programme (“ESPP”).
The subscription price was calculated on 1 September 2021 in accordance with Otovo's valuation policy and was based on the most recent transaction volume accounting for 5% of total shares outstanding, equivalent to NOK 12.78, less a discount of 28.97% due to a three year lock-up, giving a subscription price of NOK 9.08.