Incentive programs

Warrants program 2018-2021

At an extraordinary general meeting of myTaste AB (publ) ("the Company") on February 13, 2018, with the required majority, in accordance with proposals from the shareholders Jonas Söderqvist and Andreas Friis ("the Shareholders"), decided to introduce a share-related incentive program consisting of warrants. The incentive program means that the Company issued warrants to a wholly-owned subsidiary, which transfers the warrants to the participants in the program. The decision means that a maximum of 624,000 warrants may be issued within the framework of the incentive program. If the warrants are fully exercised, the share capital can be increased by SEK 312,000. The warrants are issued free of charge to the subsidiary. 

The right to acquire warrants from the subsidiary is added to the Board (excluding the Shareholders), Group Management and other key employees in the Group. The warrants shall be transferred on market terms at a price determined based on the estimated market value for the warrants using the Black & Scholes valuation model, calculated by independent valuation institutes. Notification of an acquisition of warrants shall take place during the period from February 26, 2018, until March 2, 2018.

Each warrant entitles the holder to subscribe for one (1) new share in the Company during the period December 1, 2020, through March 5, 2021. The subscription price for shares shall amount to an amount corresponding to 150 percent of the volume weighted for the Company's shares on Nasdaq First North Premier Growth Market. The average price paid during the period from February 19, 2018, to February 23, 2018 (however, the lowest quota value of the share). Upon full subscription with the support of all warrants, 624,000 new shares may be issued, corresponding to a dilution of approximately 2.8 percent of the total number of shares and votes in the Company.


Warrants program 2019-2022 

At the Annual General Meeting (AGM) on May 13, 2019, in accordance with the proposal of major shareholders, it was decided to introduce the incentive programs 2019/2022 A, through an issue of not more than 240,000 warrants of series 2019/2022 A. The right to subscribe for the warrants shall, by way of derogation from the shareholders ' preferential rights, be subject to the wholly owned subsidiary Mytaste Brands AB which shall then transfer the warrants to certain members of the Board in accordance with the decisions. The warrants are issued free of charge to the subsidiary and subscription of the warrants shall be able to take place from May 17, 2019 until May 24, 2019. Notification of the acquisition of warrants shall take place during the period beginning May 27, 2019 until July 22, 2019. Subscription of shares using the warrants shall be able to take place between July 23, 2022 and August 31, 2022. Each warrant shall entitle the holder to subscribe for one (1) share in the Company at a subscription price of 150 per cent of the volume-weighted average of those, during the period from 24 April 2019 to 15 May 2019, quoted payment prices on Nasdaq First North Premier Growth Market for shares in the Company (but not lower than the share's quotient value). If the price for the Company's share upon exercise of the warrant exceeds 200 percent of the average share price during the period April 24, 2019 through May 15, 2019, then the exercise price shall be increased crown for crown by the amount in excess of 200 percent. Upon full utilization of all warrants, a maximum of 240,000 shares may be issued, corresponding to approximately 0.78 percent of the total number of outstanding shares and votes. Upon full subscription, the Company's share capital increases by SEK 120,000.

At the AGM on May 13, 2019, it was also decided, in accordance with the major shareholder’s proposal, to introduce the Incentive programs 2019/2022 B, through an issue of not more than 695,000 warrants of series 2019/2022 B. The right to subscribe for the warrants shall, with deviation from the shareholder’s preferential rights, be entitled the wholly owned subsidiary Mytaste Brands AB, which shall then transfer the warrants to current and future members of the Group management and key personnel in accordance with the decisions. The warrants are issued free of charge to the subsidiary and subscription of the warrants shall be possible from May 17, 2019 until May 24, 2019. Notification of the acquisition of warrants shall take place during the period between October 1, 2019 and November 30, 2019. Subscription of shares using the warrants shall be possible from December 1, 2022 until December 31, 2022. Each warrant shall entitle the holder to subscribe for one (1) share in the company at a subscription price of 150 per cent of the volume-weighted average of those, during the period from September 6, 2019 to September 27, 2019, quoted payment prices on Nasdaq First North Market for shares in the Company (but not lower than the share's quota value). If the price for the company's share upon exercise of the warrant exceeds 200 percent of the average price during the period September 6, 2019 until September 27, 2019, then the exercise price shall be increased crown for crown by the amount in excess of 200 percent. Upon full utilization of all warrants, amounting to 695,000 shares may be issued, corresponding to approximately 2.2 percent of the total number of outstanding shares and votes. Upon full subscription, the Company's share capital increases by SEK 347,500.