Incentive program

At the EGM held on February 1, 2017, it was resolved to issue warrants as a part of two incentive programs, one which includes the management and certain key employees and the other includes the board members who are independent in relation to the major shareholders of the company. Identical conditions apply to both the incentive programs. The incentive programs include a maximum of 1,250,000 warrants. The incentive program for the management and certain key employees includes a maximum of 875,000 warrants and the program for certain board members includes a maximum of 375,000 warrants.

Warrants have been issued to and subscribed by MIPS’ wholly-owned subsidiary M-PS Helmet AB and the participants were offered to acquire warrants from the subsidiary to the market value over a period of three weeks from the day after the company´s shares were admitted to trading on Nasdaq Stockholm on March 23, 2017.

The maximum number of warrants that could be acquired by the participants are not to cause a dilutive effect of more than a maximum of five per cent of the share capital in MIPS.

Warrants can be exercised to subscribe for newly issued shares during the period 1 March 2020 – 31 May 2020. The exercise price is corresponding to 130 per cent of the price in the IPO.

The warrants are feely transferable but a prerequisite for allotment is that the individual has signed a special pre-emption agreement