Photocure ASA: Update on management shareholdings and exercise of employee share options

Update on management shareholdings and exercise of employee share options in Photocure ASA ("the Company").

Oslo, Norway, 6 September 2016 

1.  Participants in the Photocure's share option program have on September 5th 2016 exercised a total number of 35,000 options at a strike price of NOK 27.39. Each option gives the right to receive one share in the Company. The company has resolved a share capital increase as a consequence of employees exercising vested options granted under the company's employee incentive scheme.

2. Options exercised by primary insiders 5th of September 2016:
Kjetil Hestdal, President and CEO, has exercised 25,000 options in the Company, corresponding to 25,000 shares at the strike of NOK 27.39.
Erik Dahl, CFO, has exercised 1,000 options in the Company, corresponding to 1,000 shares at the strike of NOK 27.39.

3.  New holding:
After exercising options, Kjetil Hestdal holds 123,500 unexercised options in the Company, corresponding to 40,000 shares at the strike price of NOK 32.78, 21,000 shares at the strike price of NOK 38.50, 32,500 shares at the strike price of NOK 40.15, and 30,000 shares at the strike price of NOK 48.75. After completion of the abovementioned transactions, Kjetil Hestdal holds 128,873 shares in the Company.

After exercising options, Erik Dahl holds 93,500 unexercised options in the Company, corresponding to 14,000 shares at the strike price of NOK 27.39, 24,000 shares at the strike price of NOK 32.78, 30,000 shares at the strike price of NOK 38.50 and 25,500 shares at the strike price of NOK 40.15. After completion of the abovementioned transactions, Erik Dahl holds 1,000 shares in the Company.

Photocure
CFO Erik Dahl
Tel: +47 450 55 000
Email: ed@photocure.no