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Terranet's Board of Directors and management team acquire warrants

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Terranet Tech AB
Terranet Tech AB

PRESS RELEASE
Lund, June 10, 2022

Terranet’s CTO Nihat Küçük and Board Members Magnus Edman, Göran Janson and Karolina Bjurehed acquire warrants in the company. The warrants are part of the two incentive programs that were resolved by the 2022 Annual General Meeting in accordance with the Board’s proposal.

Nihat Küçük, Magnus Edman and Göran Janson acquire 100% of their eligible warrants, and Karolina Bjurehed approximately 87%. The incentive program is designed so that the future CEO will also be offered to acquire warrants, a maximum of 2,500,000.

Terranet’s Chairman Anders Blom comments:

“Above all, it is very positive that our CTO acquires all his warrants, he believes in the company and that we are on the right track. We have made great progress in product development over the past year, and the warrant purchases show the team's commitment to achieving our goals.”

Anders Blom is not covered by the incentive program as he represents the shareholder Maida Vale Capital AB who proposed the program to the annual general meeting. CFO Thomas Falkenberg is not covered as he is a consultant in the company. Board Member Tarek Schoeb will be separately proposed an adapted proposal for an incentive program since he is resident in the United Kingdom.

For more information, please contact
Thomas Falkenberg, CFO
Tel: +46 703 360 346
Email: thomas.falkenberg@terranet.se

This information is such that Terranet AB is required to make public in accordance with the EU’s Market Abuse Regulation (MAR). The information was made public by the Company’s contact person above on June 10, 2022, at 08.00 CET.

About Terranet AB (publ)

Terranet is on a mission to save lives in urban traffic.

We develop breakthrough tech solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV) that protect vulnerable road users.

With a unique patented vision technology, Terranet’s anti-collision system BlincVision laser scans and detects road objects ten times faster and with higher accuracy than any other ADAS technology available today. 

Terranet is based in Lund, Sweden, and in the heart of the European automotive industry in Stuttgart, Germany. The company is listed on Nasdaq First North Premier Growth Market since 2017(Nasdaq: TERRNT-B). 

Follow our journey at www.terranet.se

Certified Adviser to Terranet is Mangold Fondkommission AB, 08-503 015 50, ca@mangold.se.

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