Warrants programs

The AGM held on April 12, 2010 resolved to introduce a combined share matching and performance share program (Share Program 2010). The program comprised 12 participants. Share Program 2010 entails, in brief, that the participants actively purchased shares in the company through NASDAQ OMX Stockholm (Savings Shares) during May 2010, and retain these for a minimum three-year period (Vesting Period).

On condition that the participants are still employed and still hold their Savings Shares at the end of the vesting period, each Savings Share held will provide the participant with entitlement free-of-charge to receive one share in Hemtex (Matching Shares) and a maximum of another three shares in Hemtex (Performance Shares). Allocation of Performance Shares is conditional upon Hemtex achieving performance requirements and that the Company’s equity/assets ratio, as per adopted balance sheets for the 2010, 2011 and 2012 fiscal years, does not fall below 25%.

The share program comprises a maximum of 55,000 Savings Shares, 55,000 Matching Shares and 165,000 Performance Shares. The total number of Matching and Performance Shares may not exceed 220,000. The cost of the 2010 Share Program, calculated in accordance with IFRS 2, is SEK 2.3 M and social security fees amount to SEK 1.0 M. The total cost is estimated to be SEK 3.3 M, including social security fees. The cost of the Share Program, in accordance with IFRS 2, is being accrued straight line over three years, adjusted for changes in the anticipated vesting of Matching and Performance Shares. The social security fees are remeasured on a continuous basis in line with the share price.

During May 2010, all participants in Share Program 2010 purchased shares in Hemtex AB. The President and CEO purchased 10,000 Saving Shares and other senior executives purchased a total of 45,000 Saving Shares.