Polight ASA — Share Issue/Capital Change 2018

Oct 18, 2018

poLight ASA - Amendments to share option plan - grant of share options to primary insiders

poLight ASA - Amendments to share option plan - grant of share options to primary insiders

Horten, 18 October 2018

The Board of Directors of poLight ASA ("poLight" or the "Company") has today

decided to offer the employees of the Company a possibility to exchange their

existing share options with new share options at a strike price corresponding to

the offer price in the Company's initial public offering. In addition, the Board

of Directors has decided to offer certain employees a limited number of

additional share options, mainly in order to replace options that had expired.

The offer is made to provide the Company's employees with new long-term

incentives in order to contribute to further growth for the Company, and the

strike price of the options has therefore been set to NOK 50 per option,

corresponding to the offer price in the Company's initial public offering. If

all employees accept the offer, the Company will issue 403,420 new share options

and existing share options that are exchanged will be cancelled without

compensation. Employees who do not accept the offer will keep their share

options in accordance with earlier awards.

The main terms of the new share options are as set out below:

-        Each share option gives the right to require issuance of one new share

in the Company;

-        The strike price for each option is NOK 50;

-        The options vest (becomes exercisable) in equal parts with 1/36 each

month over 3 years;

-        Vested options may be exercised during certain exercise periods to be

determined by the Board of Directors from time to time;

-        Any vested options that are not exercised during an exercise period

will be transferred to the subsequent exercise period; and

-        The options expire 5 years after their grant. Following such date, the

options are void and cancelled.

As of today, the following primary insiders have accepted the offer to exchange

their share options and holds share options as further described below:

-        Øyvind Isaksen, CEO, holds 162,420 share options with a strike price of

NOK 50 per option with a vesting period of three years from the date hereof and

an expiry date of 18 October 2023. The total holding of Øyvind Isaksen is 24,856

shares (held through OiMaCon AS) and 162,420 share options.

-        Alf Henning Bekkevik, CFO, holds 40,000 share options with a strike

price of NOK 50 per option with a vesting period of three years from the date

hereof and an expiry date of 18 October 2023. The total holding of Alf Henning

Bekkevik is 3,379 shares and 40,000 share options.

-        Pierre Craen, CTO, has been granted 17,400 new share options and

consequently holds 40,000 share options with a strike price of NOK 50 per option

with a vesting period of three years from the date hereof and an expiry date of

18 October 2023. The total holding of Pierre Craen is 1,120 shares and 40,000

share options.

-        Marianne Sandal, COO, holds 40,000 share options with a strike price of

NOK 50 per option with a vesting period of three years from the date hereof and

an expiry date of 18 October 2023. The total holding of Marianne Sandal is 2,667

shares and 40,000 share options.

Enquiries

Eivind Bergsmyr, Chairman of poLight, +47 920 99 010

Øyvind Isaksen, CEO of poLight, + 47 908 76 398

This information is subject to the disclosure requirements pursuant to sections

4-2 and 5-12 of the Norwegian Securities Trading Act.

About poLight ASA

poLight has developed a new autofocus lens which "replicates" the human eye for

use in mobile devices and other applications with integrated cameras. poLight's

TLens® is ready for introduction in the smartphone camera module market,

offering considerable benefits such as extremely fast focus, compact xy

-dimension (i.e. small footprint), no electromagnetic interference, low power

consumption and constant field of view. poLight is based in Horten, Norway, with

offices in Finland, France and China and representation in Taiwan and Korea.

For more information visit www.polight.com.