Company announcement, Inside Information, Helsinki, June 10, 2020 at 21.00 PM (EEST)
Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or "Company") announces that the Board of Directors of Nexstim resolved on June 10, 2020, to launch a new stock option plan aimed at the personnel, management and other interest groups of Nexstim Plc and its subsidiaries, by virtue of an authorization granted by Annual General Meeting of Shareholders of the Company on April 30, 2020.
The Company has a weighty financial reason for the issue of stock options, since the stock options are intended to form part of the incentive and commitment program for the personnel, management and other interest groups. The purpose of the stock options is to encourage the personnel, management and other interest groups to work and co-operate on a long-term basis to increase shareholder value. The purpose of the stock options is also to commit the personnel, management and other interest groups to the Company.
The maximum total number of stock options 2020 to be issued is 39,000,000 and they entitle their owners to subscribe for a maximum total of 39,000,000 new or treasury shares in the Company. The Board of Directors will resolve whether new or treasury shares are given to subscribers. The number of shares subscribed by exercising stock options 2020 corresponds to a maximum total of 8.15 per cent of all shares in the Company after the potential share subscription, if 39,000,000 new shares are issued.
Of the stock options, 13,000,000 are part of stock options 2020A; 13,000,000 stock options 2020B; and 13,000,000 stock options 2020C. The share subscription period for stock options 2020A will be July 1, 2022—December 15, 2027; for stock options 2020B: July 1, 2023—December 15, 2028; and for stock options 2020C: July 1, 2024—December 15, 2029.
All stock options will be issued gratuitously. The share subscription price for stock options 2020A is based on the trade volume weighted average price for the Company’s share in Nasdaq First North Growth Market Finland during the period of the last 20 days preceding this decision date. The share subscription price for stock options 2020B is the trade volume weighted average quotation of the share on Nasdaq First North Growth Market Finland during twenty (20) trading days following the release date of the Company´s Financial Statements of the year 2020; and the share subscription price for stock options 2020C the trade volume weighted average quotation of the share on Nasdaq First North Growth Market Finland during twenty (20) trading days following the release date of the Company´s Financial Statements of the year 2021.
The share subscription price will be credited to the reserve for the Company’s invested unrestricted equity. The shares must be paid upon subscription.
The terms of the stock options 2020 are available on the Company’s websites www.nexstim.com/investors.
Mikko Karvinen, CEO
Further information is available on the website www.nexstim.com, or by contacting:
Mikko Karvinen, CEO
+358 50 326 41 01
Sisu Partners Oy (Certified Adviser)
+ 358 40 842 4479
About Nexstim Plc
Nexstim is a Finnish, globally operating medical technology company. Our mission is to enable personalized and effective therapies and diagnostics for challenging brain diseases and disorders.
Nexstim has developed a world-leading non-invasive brain stimulation technology called SmartFocus®. It is a navigated transcranial magnetic stimulation (nTMS) technology with highly sophisticated 3D navigation providing accurate and personalized targeting of the TMS to the specific area of the brain.
SmartFocus® technology is used in Nexstim’s proprietary Navigated Brain Therapy (NBT®) system, which is FDA cleared for marketing and commercial distribution for the treatment of major depressive disorder (MDD) in the United States. In Europe, the NBT® system is CE marked for the treatment of major depression and chronic neuropathic pain.
In addition, Nexstim is commercializing its SmartFocus® based Navigated Brain Stimulation (NBS) system for diagnostic applications. The NBS system is the only FDA cleared and CE marked navigated TMS system for pre-surgical mapping of the speech and motor cortices of the brain. Nexstim shares are listed on the Nasdaq First North Finland and Nasdaq First North Sweden.