The Board of Directors believes that it is important and in the interest of all shareholders that the CEO and key employees, who are considered important to the Company’s further development, have a long-term interest in good value growth for the Company’s shares. A personal, long-term shareholder commitment would be expected to contribute to increased interest in the Company’s operations and financial performance, and to increase the CEO’s and key employees’ motivation and affinity with the Company and its shareholders.
The company have two outstanding options program;
The warrants have been allotted and purchased by employees at market conditions. The market value has been determined using the Black & Scholes option valuation model.
If a warrant holder’s employment ceases, Boule has the right of first refusal and may choose to exercise that right.
The Board has decided to exercise the right of first refusal regarding former employees who purchased warrants in the 2019 program, and 95,307 warrants have accordingly been repurchased. There are no restrictions on transferring warrants in the programs.