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FirstFarms A/S: Allocation of warrants to management in FirstFarms A/S

Allocation of warrants to management in FirstFarms A/S

The Board of Directors in FirstFarms A/S has today based on authorisation in
the company's Articles of Association section 5.2.A decided to issue 50,000
warrants, which each gives right to subscribe one share of nominal DKK 10 in
the company. Thus the issued warrants give right to subscribe total up to
nominal DKK 500,000 shares in the company. The Board of Directors has at the
same time made decision about the related capital increase.

The issued warrants are allocated cost-free to the company's CEO.

The utilisation price of the allocated warrants is DKK 45.50 per share of
nominal DKK 10 with a premium of 4 % p.a. calculated as from today and till
notice is given about utilisation.

The allocated warrants can be utilised in a period of 4 weeks from the
company's publication of the interim financial report for the period 1
January 2020 - 30 June 2020.

Holders of warrants, who resign prior to utilisation, retain the right to
utilise warrants to the extent provided by the rules of the share option law.

The issued warrants are estimated to have a total market value of DKK 332,500,
corresponding to approx. DKK 83,000 per year in the period up to a possible
utilisation. The market value is calculated based on the Black-Scholes model
with a volatility of 25 %, a risk free interest of 0.5 % p.a. and a share
price of 45.50.

The Board of Directors decision is entered in item 5.2.A (a) in the company's
Articles of Association with appendix 5.2.A (a), which includes the terms for
the allocated warrants.

Best regards,
FirstFarms A/S

For further information:
Please visit our websitewww.firstfarms.comor

contact CEO Anders H. Nørgaard on telephone +45 75 86 87 87.

(11) Allocation of warrants (UK)


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: FirstFarms A/S via Globenewswire

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