Incentive programme

Karessa has introduced an incentive program in the form of warrants designed to promote the company's long-term interests by motivating and rewarding senior executives. By May 29, 2017 Karessa introduced an option program for parts of the company's management and employees. Market valuation of the program has been done with the Black & Scholes model for valuation of options. Each warrant in the program entitles holder to subscribe for a share in Karessa by May 29, 2020 at a rate of SEK 20 per share. The subsidiary Karessa Incentive subscribed to all options, with the intention of transferring these to key personnel, as decided by the Board. If all warrants are exercised for subscription of 330,000 shares, the new shares, based on the current number of outstanding shares as of September 21, 2018, would constitute 3.0% of the share capital of Karessa. The shares' quotient value is 0.05 kronor. During the fourth quarter of 2018, 230,000 options were transferred to the company's former CEO and 50,000 options were transferred to a key person.