DexTech Medical decision on allocation regarding incentive programs
17 November, 2022
At the Annual General Meeting of DexTech AB (“DexTech” or the “Company”) on 28 October 2022, it was resolved to introduce an incentive program (“W 2022 /2025”) for pre-selected key employees (“Option Holders”). W 2022/2025 gives Option holders the opportunity to subscribe for warrants in DexTech for market valuet in a directed issue. The Board of Directors of DexTech has now decided on the allocation of W 2022/2025.
In accordance with the terms, the subscription price for the warrants in the directed issue has previously been set at SEK 0.13 per warrant. Payment must be made no later than November 23, 2022.
Option holders have the right during the period from and including November 25, 2025 to and including December 9, 2025, or the earlier date that follows from the complete terms and conditions, for each warrant to call for subscription of one (1) new share in the company at a subscription price of SEK 25. Amounts in excess of the quotient value shall be added to the free premium fund.
Number of shares and dilution
As a result of W 2022/2025, the number of shares at full use will increase by 200,000 shares. Based on the Company’s current share capital, this corresponds to a dilution of no more than approximately one percent of the shares and votes. The increase in the Company’s share capital may, upon full exercise of the warrants, amount to a maximum of SEK 9,000. Reservations are made for such conversions as a result of issues, etc., which can take place according to the terms of the warrants.
For more information about DexTech, please contact:
Gösta Lundgren – CFO
DexTech Medical AB
Phone: +46 (0) 707104788
DexTech Medical AB is a Swedish research company that, based on its technology platform, has developed four drug candidates that are protected by patents. The main candidate is OsteoDex for the treatment of castration-resistant prostate cancer (CRPC) with bone metastases. A successful clinical phase II study has been conducted with OsteoDex where the results show high tolerability with mild side effects and treatment effect on patients who fail on existing drugs. DexTech’s goal is to outlicense each drug candidate no later than after the completed phase II study. DexTech Medical AB is listed on Spotlight Stock Market.