During the Extraordinary General Assembly of
Adoption of an incentive program based on warrants for key people
The general meeting decided to adopt an incentive program based on warrants for key persons of the Company through (A) a resolution on an issue of a maximum of 554,391 warrants. of the 2021/2024 series to the Company, and (B) a resolution approving the transfer of the 2021/2024 series warrants of the Company to key persons of the Company. The warrants are issued free of charge to the Company and will be transferred to key persons at market conditions at a price established in accordance with a market value calculated for the warrants by applying the Black & Scholes valuation model. The Company will subsidize a portion of participants’ option premiums through a cash bonus. The cash bonus after taxes and social security contributions, calculated on the basis of a tax rate of 55%, will correspond to 50% of the option premium. The bonus will be paid as part of the allocation of warrants to participants.
Each warrant gives the right to subscribe to one share of the Company during the period beginning on
Full terms and conditions of the warrants are available on the company’s website, refreshcell.com. As specified in the general conditions of the warrants, the subscription price and the number of shares that each warrant gives the right to subscription may be recalculated in certain cases.
Resolution on the Approval of the Conclusion of a Loan Agreement with the
The General Assembly decided to approve the conclusion of the financing agreements with the