Incentive programme

Since 2006 Lagercrantz Group has a call option programme covering members of senior management with a direct possibility of affecting the Group’s income. The purpose of the programmes is, through their own investment, to allow management in the Lagercrantz Group to benefit from and strive for, an increase in the market price of the Company’s shares, thereby more closely aligning the interests of managers and shareholders in the Company. The purpose of the programmes is also to contribute to increasing management personnel’s long-term share ownership in the Company. The call option programme consists of call options for class B shares repurchased by Lagercrantz Group. The outstanding programmes are: The award resolved by the 2008 Annual General Meeting comprised a total of 180,500 call options. The redemption price for the shares resolved was set as SEK 36.80. The options are exercisable between 27 September–27 December 2011. 

The 2009 Annual General Meeting resolved to issue 255,000 call options giving its holders the right to acquire a corresponding number of shares is issued. The exercise price is set as SEK 31.10. The options may be exercised not later than 30 September 20012. As a consequence of the size of the dividend to the shareholders in 2011 the exercise price has been recalculated to 29.70 SEK.

The 2010 Annual General Meeting resolved to offer members of senior management to acquire call options on class B treasury shares. 260,000 call options giving its holders the right to acquire a corresponding number of shares were issued. The exercise price is set to SEK 42.00. The options may be exercised not later than 4 October 2013. As a consequence of the size of the dividend to the shareholders in 2011 the exercise price has been recalculated to 41.00 SEK.

The 2011 Annual General Meeting resolved to offer managers and members of senior management to acquire call options on class B treasury shares. Up to 180,000 call options giving its holders the right to acquire a corresponding number of shares may be issued. Options shall be acquired at market value. A total of 27 managers in the Group will acquire options under the 2011 programme. The call options is transferred at a price of SEK 3.30 per call option, equivalent to the market value according to a valuation performed by Nordea Bank AB (publ), Corporate Finance. The exercise price amounts to SEK 57.20, which is equivalent to 120 percent of the average market price during the measuring period 5–16 September 2011. The exercise period is at three occasions up until 3 October 2014, inclusive.