Management awarded share options 

Management awarded share options  Release date: 25-01-2010 00:00:00

In accordance with DFDS’ guidelines for the remuneration of the Board of Directors and the management as adopted by the annual general meeting on 10 April 2008, CEO Niels Smedegaard today received a 10,000 share option and CFO Torben Carlsen a share option of 15,750 shares.  

The options have been awarded as an incentive to improve the financial performance of DFDS and to generate value for the shareholders.

The options may be exercised in the period from March 2013 until March 2015.The exercise price is based on the average share price in the twenty trading days prior to the award, to which 5% has been added, giving an exercise price of DKK 380.00 per share. The options are hedged against the company’s own shareholding. The theoretical value of the share options is DKK 2.6 million, calculated according to the Black & Scholes model, which presumes an average duration of three years, volatility of 34%, dividend of DKK 10 per share and interest rate of 2.9%.