Mandatory notification of trade and changes in share capital – exercise of options

Funcom SE (“Funcom” or “the Company”) has a stock option plan that covers employees and management as well as Managing Directors and Supervisory Directors and is regarded as a component of the total remuneration offered by the Company.

On 2 March 2020, as a natural consequence of the recommended voluntary cash offer for all shares in Funcom at NOK 17 per share made by Tencent Cloud Europe B.V. (Tencent) that started on 20 February 2020, and in accordance with the General Terms of the applicable stock option plan, a total of 4,059,165 stock options were exercised at an average exercise price of NOK 13.11 per share.

After this event, the total number of outstanding stock options is 2,219,300, out of which 2,153,900 stock options are not “in the money”.

The following primary insiders exercised stock options with the intention to have a third party selling the shares in the market:

Supervisory Directors:

  • Mr. Egil Kvannli exercised 88,000 stock options. Average weighted exercise price was NOK 12.38. Number of stock options held after the exercise is 38,000, and number of shares held is nil.
  • Mrs. Susana Meza Graham exercised 38,000 stock options. Average weighted exercise price was NOK 15.04. Number of stock options held after the exercise is 38,000 and number of shares controlled is 222,300.

Managing Directors:

  • Mr. Rui Casais exercised 549,332 stock options. Average weighted exercise price was NOK 12.81. Number of stock options held after the exercise is 140,000 and number of shares held is 47,000.
  • Mr. Christian Olsthoorn exercised 95,500 stock options. Average weighted exercise price was NOK 11.54. Number of stock options held after the exercise is 38,000 and number of shares held is nil.

Other Primary Insiders:

  • Mr. Stian Drageset, CFO, exercised 235,000 stock options. Average weighted exercise price was NOK 14.47. Number of stock options held after the exercise is 75,000 and number of shares held is 20,000.
  • Mr. Erling Ellingsen, CMO, exercised 283,888 stock options. Average weighted exercise price was NOK 12.84. Number of stock options held after the exercise is 80,000 and number of shares held is nil.
  • Mr. Ole Schreiner, COO, exercised 296,000 stock options. Average weighted exercise price was NOK 12.78. Number of stock options held after the exercise is 120,000 and number of shares held is 14,004.

The sales amount will be determined on the basis of the price subsequently obtained by the third party selling the shares in the market. The market will be notified when the transactions have been settled by the third party.

Following the exercise of stock options today, the total number of issued and outstanding shares in Funcom SE has been increased with 4,059,165 to 81,346,154. The issued share capital of Funcom SE is EUR 16,269,230.80.  

Funcom SE
Badhoevedorp, the Netherlands, 2 March 2020

This information is subject to the disclosure requirements acc. to §5-12 of vphl (Norwegian Securities Trading Act)

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