Company Announcement, Helsinki, 16 May 2023 at 9:30 AM (EEST)
Nexstim Plc (NXTMH:HEX) ("Nexstim" or "Company") announces that the Board of Directors of Nexstim resolved on May 15, 2023, to launch a new stock option plan 2023A-C 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 March 31, 2023 and a new stock option plan 2023H aimed at the Board of Directors of the Company by virtue of an authorization granted by the Annual General Meeting of Shareholders of the company on March 31, 2023, and according to the AGM resolution.
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 2023A-C issued is 740,460 and they entitle their owners to subscribe for a maximum total of 740,460 new shares in the company or existing shares held by the company. The Board of Directors will resolve whether new shares or existing shares held by the company are given to subscribers. After the share subscriptions with stock options, the number of the company’s shares may be increased by a maximum total of 740,460 shares, if new shares are issued. The number of shares subscribed by exercising stock options issued corresponds to a maximum total of approximately 9.93 % of all shares in the company after the potential share subscriptions, if 740,460 new shares are issued.
Of the stock options 240,820 are marked with the symbol 2023A; and 240,820 are marked with the symbol 2023B; and 240,820 are marked with the symbol 2023C.
The share subscription period for stock options 2023A will be 1 July 2025—15 December 2030.
The share subscription period for stock options 2023B will be 1 July 2026 – 15 December 2031.
The share subscription period for stock options 2023C will be 1 July 2027 – 15 December 2032.
The share subscription price for stock options 2023A 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 20 days following the AGM 2023 date. The share subscription price for stock options 2023B 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 2023; and the share subscription price for stock options 2023C 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 2024.
The maximum total number of stock options 2023H issued is 37,500 and they entitle their owners to subscribe for a maximum total of 37,500 new shares in the company or existing shares held by the company. The Board of Directors will resolve whether new shares or existing shares held by the company are given to subscribers.
After the share subscriptions with stock options, the number of the company’s shares may be increased by a maximum total of 37,500 shares, if new shares are issued. The number of shares subscribed by exercising stock options issued corresponds to a maximum total of approximately 0.55 % of all shares in the company after the potential share subscriptions, if new shares are issued.
Of the stock options 37,500 are marked with the symbol 2023H.
The share subscription period for stock options 2023H will be 1 July 2024—15 December 2029.
The share subscription price for stock options 2023H 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 20 days following the AGM 2023 date.
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 2023 are available on the Company’s website at www.nexstim.com/investors/share-information.
Further information is available on the website www.nexstim.com, or by contacting:
Leena Niemistö, Chair of Board of Directors
+358 9 2727 170
leena.niemisto@nexstim.com
The Company’s Certified Advisor is Erik Penser Bank.
About Nexstim Plc
Nexstim is a Finnish, globally operating growth-oriented medical technology company. Our mission is to enable personalized and effective diagnostics and therapies for challenging brain diseases and disorders.
Nexstim has developed a world-leading non-invasive brain stimulation technology for navigated transcranial magnetic stimulation (nTMS) with highly sophisticated 3D navigation providing accurate and personalized targeting of the TMS to the specific area of the brain.
Nexstim’s Diagnostics Business focuses on commercialization of the Navigated Brain Stimulation (NBS) system. 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’s Therapy Business markets and sells the 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.
Nexstim shares are listed on Nasdaq First North Growth Market Finland.
For more information, please visit www.nexstim.com