In 2002/03, the Board of Directors established an incentive plan for the Corporate Management of Chr. Hansen Holding A/S in the form of a share option plan under which a total of 195,000 warrants were granted to the members of the Corporate Management in three tranches. The exercise prices were DKK 251, DKK 317 and DKK 448, respectively, for the three tranches.

In August 2005, the Board of Directors resolved, in connection with the divestment of the Ingredients Sector, to settle the Corporate Management share option plan in cash at the average price of Chr. Hansen Holding’s shares during the period August 1-12, 2005. The settlement amount was DKK 121 million, which was included in the determination of the gain on the divestment of the Ingredients Sector.

During the 2002/03 financial year, it was resolved to introduce a share option plan for a group of executives of the Allergy Sector, subject to an independent listing of ALK-Abelló A/S. As a result of the divestment of the Ingredients Sector and the proposed merger of Chr. Hansen Holding A/S and ALK-Abelló A/S, the Board of Directors resolved to settle the share option plan in ALK-Abelló A/S by DKK 46 million in cash.