IDEX has issued 115,350 new shares for three board members, raising the company’s share capital to NOK 81,357,465.75. That share capital is divided into 542,383,105 shares, each valued at NOK 0.15.
It’s the result of a share incentive program the company introduced at its annual general meeting earlier this year. IDEX’s board of directors resolved to issue millions of new subscription rights to new and current employees, including providing board members with the option to accept renumeration in the form of shares.
The move followed the publication of a Q1 report outlining a significant surge in revenues for IDEX, as well as promising signs of future developments. IDEX has been working with Mastercard and Safran Identity & Security (now OT-Morpho), for example, on biometric payment cards, and is preparing to put its new ASIC off-chip sensor solution into mass production.
Prior to the introduction of IDEX’s share incentive program, Precise Biometrics, a leading fingerprint algorithm software provider, introduced an employee share program of its own, suggesting that this model could become a trend in the industry.
June 6, 2017 – by Alex Perala