Introduction of a share-based compensation programme

Alm. Brand A/S 

26.04.2012 14:14

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The issuer is solely responsible for the content of this announcement.

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Copenhagen, 2012-04-26 14:14 CEST (GLOBE NEWSWIRE) -- At the annual general
meeting of Alm. Brand A/S held today, the shareholders approved the revised
remuneration policy for the Alm. Brand Group as well as overall guidelines
regarding share option compensation in Alm. Brand A/S. Against this background,
the Board of Directors has resolved to introduce a share-based compensation
programme as described in the approved documents as well as in a memorandum
thereon presented before the general meeting. 

 At the present time, the following information on the share-based compensation
programme is available: 



  -- The compensation programme involves the granting of share options as a
     fixed-salary component, which cannot exceed 13% of the fixed salary.
  -- Individuals comprised by the compensation programme are the members of the
     group's management team (ABKO), except for members of the management team
     who are employed with Alm. Brand Bank A/S. A total of 16 individuals are
     currently eligible for the programme.
  -- The time horizon of the compensation programme is two years.
  -- The total number of shares in the compensation programme which the holders
     of share options can acquire depends on a valuation of the share options
     using the Black-Scholes formula. At 31 December 2011, the value would have
     been DKK 1.95 per option. Each option entitles the holder to acquire one
     share.
  -- Because this is a fixed-salary scheme, the granting of options is not
     subject to any targets or principles, but the value depends on the
     performance of Alm. Brand A/S' shares.
  -- The share options are granted on the eighth trading day after release of
     the interim report for the six months ending 30 June 2012, the 2012 annual
     report, the interim report for the six months ending 30 June 2013, the 2013
     annual report and the interim report for the six months ending 30 June
     2014, respectively, and the options may be exercised within a period
     beginning and ending 35 and 50 months after the date of grant,
     respectively.
  -- The exercise price is calculated as a simple average of the average price
     of a share in Alm. Brand A/S on the fifth, sixth and seventh trading day
     after release of the above-mentioned annual and interim financial
     statements plus a 10% premium.
  -- Exercise of the options is not subject to any specific conditions being
     satisfied.
  -- Calculated as 13% of two years' salary of the individuals comprised, the
     market value of the share-based compensation represents DKK 8-9 million.


         Please direct any questions regarding this announcement to Søren Boe
Mortensen, Chief Executive, on tel. +45 35 47 79 07 or Susanne Biltoft, Head of
Information and Investor Relations, on tel. +45 35 47 76 61.
News Source: NASDAQ OMX



26.04.2012 DGAP's Distribution Services include Regulatory Announcements,
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Language:     English
Company:      Alm. Brand A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0015250344
WKN:          
 
End of Announcement                             DGAP News-Service
 
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