Huddly AS - Settlement of Synthetic Option Claim
A group of former Huddly employees made a claim for compensation based on their holdings of synthetic options. Huddly has today reached a settlement with the group. The total claim amounted to approximately 150 MNOK plus legal fees and interest.
The settlement totals 75 MNOK plus social security tax, to be paid out in three equal instalments in 2021, 2022 and 2023. The settlement includes synthetic options, representing 4.78 % of outstanding shares. Shareholders will now avoid a corresponding potential future dilution.
It was undisputed that the synthetic options could have a future value, and the settlement reflects this.
About Huddly AS: Huddly is a technology company that creates tools for team collaboration. Based in Oslo, Norway, Huddly combines expertise across the fields of design, hardware, software, and artificial intelligence. The company’s smart cameras are designed to make it easier and better for people to communicate with each other. Huddly’s solutions with industry-leading partners enable high-quality video experiences on all major collaboration platforms.
For more information, please contact: Stein Jacob Frisch, Investor Relations, Huddly AS, mob: +47 916 10 911, email: email@example.com