The Annual General Meeting of March 14, 2008, decided to issue stock options to Bittium group´s (former Elektrobit group) key personnel. The maximum number of stock options was 4,200,000, of which 1,400,000 were marked with the symbol 2008A, 1,400,000 were marked with the symbol 2008B and 1,400,000 were marked with the symbol 2008C. The stock options entitled to subscription of a maximum total of 4,200,000 new shares of the company or treasury shares.
The proportion of the shares that were to be subscribed using the stock options to be issued was a maximum total of 3.1 percent of the company´s shares and associated voting rights after a possible share subscription, if new shares were to be issued in the subscription. The subscription price for the shares to be subscribed based on the stock options was based on the prevailing market value of the Bittium Corporation share at Nasdaq Helsinki in January 2009, January 2010 and January 2011. The subscription price was to be recorded in the fund for invested unrestricted equity. The share subscription period for stock options 2008A was 1 April 201231 March 2014, for stock options 2008B 1 April 201331 March 2015, and for stock options 2008C 1 April 201431 March 2016.
The Board of Directors of Bittium Corporation decided on June 5, 2013 on the transfer of stock options 2008A and 2008B to the Finnish book-entry system and to apply for listing of 1,400,000 stock options 2008A and of 1,400,000 stock options 2008B on the official list of Nasdaq Helsinki. The trading with the stock options started on June 17, 2013. The share subscription period for stock options 2008A ended on March 31, 2014 and the share subscription period for stock options 2008B ended on March 31, 2015.
The Board of Directors of Bittium Corporation decided on the transfer of series 2008C stock options to the Finnish book-entry system on December 20, 2013 and applied for listing of 1,400,000 stock options 2008C on the official list of Nasdaq Helsinki. Application was made for the listing to commence on April 1, 2014. The share subscription period for series 2008C stock options commenced on April 1, 2014 and ended on March 31, 2016.
A total of 55,498 new shares in Bittium Corporation were subscribed for between December 1, 2015 and March 31, 2016 by virtue of the option rights 2008C. The share subscription price, EUR 30,523.90 was recorded in the company´s invested non-restricted equity fund. The corresponding increases in the number of the company´s shares were entered into the Finnish Trade Register on February 10, 2016 and April 14, 2016 as an additional lot of Bittium Corporation´s shares in Nasdaq Helsinki Ltd. The share subscription period for stock options 2008C ended on March 31, 2016. More information and terms and conditions of stock options 2008 are available in the Company´s web pages at www.bittium.com/investors.