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Note 25 – Share-based remuneration

The following is a summary of options programmes existing in the Group as at 31 December 2020.

Warrants    
DesignationSubscription periodNumber of warrantsPriceNumber of shares awards
TO21180630-2106302,800,00036308,000
TO22171031-21103019,000,000362,090,000
TO23181119-221119200,00036224,000
TO25190308-24030716,666,667131,860,752
TO26220101-22113060,000366,600
TO27191126-210930400,00036448,000
TO28230101-2306302,200,000362,464,000
  41,326,667 7,401,352
     

Outstanding warrants 2020-01-01AllocatedForfeitureRedeemedExpired Outstanding warrants
2020-12-31
 Redeemable warrants
2020-12-31
40,026,6672,200,0000450,000450,000 41,326,667 39,066,667

Warrants in TO21 and TO26 has been issued to the Board of Directors on market terms, following a decision by the Annual General Meeting

Warrants TO25 has been issued to the company's partner Masen as part of a partner agreement.

Warrant TO 22, TO23, TO27 and TO28 have been issued to the company's employees om market terms.

Two option programs expired in 2020 and 49,500 shares were issued because of these options.

Shares in TO25 will be paid via set-off against debt for accrued services performed by Masen and other shares will be paid in cash.