Basware has currently two valid warrant programs.
Warrant Program 2006
The Annual General Meeting on February 15, 2006 approved the new warrant program. Based on the program, a maximum of 300 000 warrants can be granted to the key personnel of Basware Group, each warrant entitling to subscribe one Basware share. The warrants of Warrant Program 2006 are divided into three series, each having an own subscription period as follows: April 1, 2008–March 31, 2009,April 1, 2009–March 31, 2010 and April 1,2010-March 31, 2011. The subscription prices of the shares correspond to the volume-weighted average share price of the Company in January–March of 2006, 2007 and 2008. The terms and conditions of the Warrant Program 2007 were published as a stock exchange release on April 10, 2006.
Warrant Program 2007
The Annual General Meeting on February 26, 2007 approved the new warrant program. Based on the program, a maximum of 200 000 warrants can be granted to the key personnel of Basware Group, each warrant entitling to subscribe one Basware share. The warrants of Warrant Program 2007 are divided into two series, each having an own subscription period as follows: April 1, 2009–March 31, 2010 and April 1, 2010–March 31, 2011. The subscription prices of the shares correspond to the volume-weighted average share price of the Company in January–March of 2007 and 2008. The terms and conditions of the Warrant Program 2007 were published as a stock exchange release on February 26, 2007.