Bakkavör Group hf.
– Bakkavör Group Grants Share Options

Bakkavör Group hf. / News

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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The Board of Bakkavör Group hf. has approved a discretionary company share
option plan, the Bakkavör Group hf. Company Share Option Plan 2008, which comes
into effect today, 23 May 2008. 

According to the Plan, today the Board of Bakkavör Group granted options over
an aggregate of 41,694,568 ordinary shares at an exercise price of 36 ISK per
share to key employees of Bakkavör Group hf. The exercise price is the market
value of a Bakkavör Group share at the close of business on 22 May 2008. 

The options will vest after three years starting from the grant date and will
be available for exercise for two years, between 23 May 2011 and 22 May 2013.
The options will lapse on 23 May 2013. Exercise is conditional upon the option
holder remaining in continuous employment with Bakkavör Group hf. until the
vesting date. 

News Source: NASDAQ OMX

23.05.2008  Financial News transmitted by DGAP
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