The company issues a total of 7,000,000 option rights that entitle the option holders to subscribe for a total 7,000,000 new shares in the company. Of the option rights, 2,000,000 shall be marked with the symbol 2009 A, 2,000,000 with the symbol 2009 B and 2,000,000 with the symbol 2009 C. Each option right entitles the option holder to subscribe for one new share in the company. As a result of the share subscriptions, the number of the shares in the company may thus increase by a total of 7,000,000 new shares. In the event the shares subscribed on the basis of the issued option rights are subscribed in full, the proportion of the subscribed shares shall be approximately 4.6 per cent of the share capital of the company after the registration of the increase in the share capital, without taking into account the new shares to be possibly subscribed pursuant to the convertible loans and other option schemes issued by the company.
The option rights shall be issued free of charge to the company's key personnel and Biotie Therapies International Oy, a wholly owned subsidiary of the company. The distribution of the option rights shall be decided by the Board of Directors. The company has a weighty financial reason referred to in Chapter 10, Section 1 of the Companies Act to issue option rights since the option rights are intended to form a part of the Company's incentive and commitment programme for the Company's key personnel.
The subscription periods and prices for the shares are as follows:
The subscription price has been determined based on the volume-weighted average trading price of the Company's share on NASDAQ OMX Helsinki Ltd during the period of 1 January - 31 March 2009, i.e. EUR 0.29, with an increase as follows: (i) option right 2009 A: an increase of approx. 138 per cent, (ii) option right 2009 B: an increase of approx. 241 per cent and (iii) option right 2009 C: an increase of approx. 345 per cent. The determination of the subscription price of the share is based on the market price of the Company's share and, at the same time, it sets an incentive to the key personnel in order to add ownership value. The subscription price of the shares shall be recorded in the company's reserve for invested unrestricted equity.
The Board of Directors may decide on other than essential amendments and specifications to the terms and conditions of the option rights, as well as other matters related to the option rights.
