Ensurge Micropower ASA - Subscription Rights Exercise and Employee Share Purchase Plan

02 Sep 2024 01:20 CEST

Ensurge Micropower ASA (the "Company") has received notice of exercise of
16,000 vested incentive subscription rights with an exercise price per share of
NOK 0.950 from an employee of the Company, under the Company's 2022 Subscription
Rights Plan.

The Board therefore resolved on 31 August 2024 to approve such exercise and the
resulting issuance of 16,000 new shares in the Company.

The board of directors of the Company has also on 31 August 2024 resolved to
issue 2,216,081 ordinary shares at an average subscription price of NOK 1,1334
per share to employees and contractors ("Participants") in the Company who
participate in the Company's 2024 Employee Share Purchase Plan ("ESPP"). The
ESPP was approved by the annual general meeting on 14 May 2024.

15 Participants participated in the ESPP in the offering period, which expired
on 30 August 2024. The Participants have elected to invest a part of the base
salary or service fee in ordinary shares in the Company. Share purchases take
place every six months.

Primary insiders
Ensurge Micropower ASA discloses transactions by the following primary insiders
in Ensurge Micropower ordinary shares:

* Lars Eikeland, CEO and CFO, acquired 664,228 ordinary shares at NOK 0.9875 per
share under the ESPP; and

Please see the enclosed forms for further details on the transactions.

Ensurge Micropower ASA 2024 ESPP

The ESPP is available on the Company's
website. https://assets.milestoneinternet.com/ensurge-inc/pdf/ensurge-2024-
employee-share-purchase-plan.pdf

Any person who is an eligible participant has been offered to subscribe for
shares in the Company in connection with the ESPP. The ESPP is structured around
two offering periods, starting on the first day of the calendar month following
each planned public disclosure on Oslo Børs of the half-yearly and fourth
quarter financial results of the Company, such calendar months being September
through February and March through August. During each offering period, a fixed
amount (up to 20% of the employee's gross (pre-tax) base salary or, in the case
of contractors, up to 20% of the service fee payable to such contractor) is
withheld from the employee's net salary or from the contractor's service fee,
which fixed amount must be at least a total of NOK 6,000 (or equivalent foreign
currency) for each offering period. The Participant may sign up to participate
in the ESPP from the date of the public disclosure of the half-yearly or fourth
quarter financial results until the day before the commencement of the offering
period. Unless the Participant actively withdraws from the ESPP, participation
is automatically renewed for the same amount for subsequent offering periods.
The board's resolution to issue new shares in connection with the ESPP is made
pursuant to the authorization granted by the Company's annual general meeting on
14 May 2024 to increase the Company's share capital in connection with the ESPP.
Settlement of the subscription amount is made by set-off against debt to the
employees and contractors (offset).

In accordance with Regulation (EU) 2017/1129 (the "Prospectus Regulation")
Article 1 (5) h, issuance of shares in connection with the ESPP is exempt from
the obligation to publish a listing prospectus.

Upon registration of the share capital increases associated with the exercise of
incentive subscription rights and the issuance of ESPP shares in the Norwegian
Register of Business Enterprises, the Company's share capital will be NOK
311,113,176.50 divided into 622,226,353 shares, each having a par value of NOK
0.50.

About Ensurge Micropower:
Ensurge is Energizing Innovation (TM) with the first ultrathin, flexible,
reliable, and fundamentally safe solid-state lithium microbattery for the 1 to
100 milliampere-hour (mAh) class of wearable devices, connected sensors, and
beyond. The innovative Ensurge Microbattery enables energy-dense rechargeable
products that are ideal for form-factor-constrained applications including
hearables (hearing aids and wireless headphones), digital and health wearables,
sports and fitness devices, and IoT sensor solutions that use energy harvesting
to power everyday things. The Company's state-of-the-art manufacturing facility,
located in the heart of Silicon Valley, combines patented process technology and
materials innovation with the scale of roll-to-roll production methods to bring
the advantages of Ensurge technology to established and expanding markets.

Lars Eikeland, Chief Executive Officer E-mail: lars.eikeland@ensurge.com
(mailto:lars.eikeland@ensurge.com)

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

626794_Lars_P _Eikeland Primary Insider.pdf