The compensation period is closed
Deadline for submitting request for compensation was January 12, 2024.
Stenocare has announced that owners of TO1 Warrants can receive compensation for realised loss from the combined process of selling, repurchasing, and exercising of TO1 Warrants.
WHY
WHY: On November 29, 2023, Stenocare announced the decision to amend the terms relating to the TO1 Warrants. This was done to honor the promises made at the time of the rights issue in June 2023. The announcement also introduced an offer for compensation for TO1 Warrant owners that has realised a loss due to the amended terms.
WHO
WHO: Any TO1 Warrant owner who has sold warrants at any time from June 01 to November 29 (4:41 PM) at a loss relative to the final purchasing price of the TO1 Warrants after November 29 (4:42 PM) will be entitled to receive compensation if they comply with the requirements of the offer.
WHAT
WHAT – The Compensation Offer: Stenocare announced compensation details on December 6 for owners of TO1 Warrants. The offer is for TO1 Warrants owners that sold these warrants before November 29, then repurchased then after November 29 and also exercised these warrants before December 19, 2023. If the TO1 Warrant owner realised a loss, then Stenocare will compensation for this if all following conditions are fulfilled:
- Condition #1: The warrant owner must have sold warrants of TO1 between 20 June 2023, 9.00 AM (CEST) and 29 November 2023, 4.41 PM (CET)
- Condition #2: The warrant owner must have purchased TO1 warrants between 29 November 2023, 4.42 PM (CET) and 15 December 2023, 5.00 PM (CET)
- Condition #3: Compensation is given if the warrant owner has realised a loss on the TO1 warrants (ie. purchase price minus sales price)
- Condition #4: The warrant owner must have exercised the number of warrants of series TO1 between 6 December 2023, 9.00 AM (CET) and 19 December 2023, 5.00 PM (CET) that is being requested for compensation.
HOW
HOW to request compensation: The he exercise period has ended and TO1 Warrant owners who fulfill the requirements for compensation must send the “Compensation Request Form” to info@stenocare.com together with documentation proving their eligibility for compensation and the final compensation amount. Stenocare will process these compensation requests after the exercise period and expects to finalize them during January 2024. It is only possible to request compensation for a personal loss.
Important: Complete both pages on the “Compensation Request Form”. Please also include following documents from the bank:
- Documentation of sales transaction(s) for STENO TO1 Warrants between June 1 and November 29, 2023
- Documentation of re-purchase transaction(s) for STENO TO1 Warrants between November 29 and December 15, 2023
- Documentation of exercise transaction for STENO TO1 Warrants between December 6 and December 19, 2023
How the compensation is calculated: Owners of TO1 Warrants that fully comply with the requirement of this offer will be compensated based on following model. The difference between weighted average sales price of TO1 Warrants and weighted average re-purchase price – will be multiplied by total number of TO1 Warrants exercised. Following examples serve to explain how compensation will be calculated:
Example 1:
Sold 500 TO1 Warrants before November 29:
- Sales: 500 warrants at 0.10 DKK
The weighted sales price is equal to 0.10 DKK.
Re-purchased 500 TO1 Warrants after November 29:
- Purchase: 500 warrants at 0.35 DKK
The weighted purchase price is equal to 0.35 DKK.
The Warrant owner decided to exercise 500 TO1 warrants.
Calculation of compensation: (0.35 – 0.10) * 500 = 125 DKK
Example 2:
Sold 2700 TO1 Warrants before November 29:
- Sales 1: 200 warrants at 0.05 DKK
- Sales 2: 500 warrants at 0.10 DKK
- Sales 3: 2000 warrants at 0.20 DKK
The weighted sales price is equal to 0.17 DKK.
Re-purchased 1300 TO1 Warrants after November 29:
- Purchase 1: 100 warrants at 0.15 DKK
- Purchase 2: 200 warrants at 0.19 DKK
- Purchase 3: 1000 warrants at 0.40 DKK
The weighted purchase price is equal to 0.35 DKK.
The Warrant owner decided to exercise 1300 TO1 warrants.
Calculation of compensation: (0.35 – 0.17) * 1300 = 234 DKK
Please complete following steps:
- Complete all sections of this “Compensation Request Form” (two pages)
- Email the Compensation Request Form to info@stenocare.com using the subject title “TO1 Warrant – Compensation” no later than 12 January 2024.
- Attach all the required documents from the bank (details regarding sales, re-purchase and exercise)
WHEN
The timeline for requesting compensation
- Deadline for submitting request for compensation: January 12, 2024
- Expected payment of compensation: End of January 2024
STENOCARE COMPENSATION FORM FOR REALISED LOSS ON TO1 WARRANTS
