Shares sold to partners
On 9 March 2021 ABG Sundal Collier Holding ASA (“ABGSC”) sold a total of 11,508,067 ABG shares to new and existing partners in a combination of a share incentive program for partners and a share sale to specially identified staff who according to local regulations have to purchase shares as part of their variable compensation. The shares were sold at a price of NOK 6.93 per share, reflecting the restrictions imposed on such shares.
Of the 11,508,067 shares sold, 10,490,000 shares were sold on forward contracts with a forward price of NOK 7.91 per share and settlement on 1 June 2027.
Settlement of forward contracts
With reference to our press releases of 10 March 2017, 11 March 2019, 15 July 2019 and 12 March 2020, partners today purchased 7,859,300 ABG-shares from ABGSC as settlement of forward contracts that were previously entered into. The shares were sold at an average price of NOK 1.3801 per share. The initial forward prices of NOK 5.17, NOK 4.01, NOK 3.58 and NOK 2.76 have been adjusted for dividends, interest adjustments and earlier settlement of the forward contract.
Insider transactions
The following partners who hold executive positions in the firm (“insiders”) participated in the transactions:
Chairman of the Board, Knut Brundtland purchased through the family owned company Giotto AS 1,250,000 shares at NOK 1.28 per share as settlement of a forward contract previously entered into. The initial forward price of NOK 2.76 per share has been adjusted for dividends, interest changes and earlier settlement of the forward contract. Following the transaction, Brundtland, incl. the family owned companies Giotto AS and Piero AS, owns 6,583,000 shares plus 7,500,000 shares on forward contracts. His exposure towards ABG shares remains unchanged after the transaction.
Board member, Jan Petter Collier, purchased 216,000 shares at a price of NOK 6.93 per share. Collier, incl. the family owned company Sanden Equity AS, owns 40,538,000 shares following the transaction.
Group CEO, Jonas Ström purchased 500,000 shares on a forward contract with settlement 1 June 2027 at a forward price of NOK 7.91 per share. In addition, Ström purchased 1,150,000 shares at NOK 1.28 per share as settlement of a forward contract previously entered into. The initial forward price of NOK 2.76 per share has been adjusted for dividends, interest changes and earlier settlement of the forward contract. Following the transactions, Ström owns 2,750,000 shares plus 3,625,000 shares on forward contracts.
Head of Investment Banking, Are Andersen purchased 700,000 shares at NOK 2.15 per share as settlement of a forward contract previously entered into. The initial forward price of NOK 4.01 per share has been adjusted for dividends, interest changes and earlier settlement of the forward contract. Following the transaction, Andersen, incl. 100% owned companies, owns 4,390,184 shares plus 1,300,000 shares on a forward contract. His exposure towards ABG shares remains unchanged after the transaction.
Head of Investment Banking Sweden, Johan Lindén purchased 750,000 shares at NOK 1.28 per share as settlement of a forward contract previously entered into. The initial forward price of NOK 2.76 per share has been adjusted for dividends, interest changes and earlier settlement of the forward contract. Following the transaction, Lindén owns 1,225,000 shares plus 3,700,000 shares on forward contracts. His exposure towards ABG shares remains unchanged after the transaction.
Head of Equity Sales Sweden & International, Per Flostrand purchased through his 100% owned company Fairway Drive AS 1,000,000 shares at NOK 1.28 per share as settlement of a forward contract previously entered into. The initial forward price of NOK 2.76 per share has been adjusted for dividends, interest changes and earlier settlement of the forward contract. Following the transaction, Flostrand, incl. the 100% owned company, owns 1,865,000 shares plus 2,850,000 shares on forward contracts. His exposure towards ABG shares remains unchanged after the transaction.
Global Co-head of Research, John Olaisen, has through his 100% owned company Queensgambit AS purchased 500,000 shares at NOK 1.28 per share as settlement of a forward contract previously entered into. The initial forward price of NOK 2.76 per share has been adjusted for dividends, interest changes and earlier settlement of the forward contract. In addition, Olaisen purchased 500,000 shares from Queensgambit AS at a price of NOK 8.15 per share. Following the transactions, Olaisen, incl. the 100% owned company, owns 1,930,000 shares plus 2,450,000 shares on forward contracts. His exposure towards ABG shares remains unchanged after the transactions
Managing partner & CEO ABGSC Norway, Peter Straume, has through his 100% company Hamp Invest AS purchased 1,000,000 shares at NOK 1.28 per share as settlement of a forward contract previously entered into. The initial forward price of NOK 2.76 per share has been adjusted for dividends, interest changes and earlier settlement of the forward contract. Following the transaction, Straume, incl. the 100% owned company, owns 2,232,500 shares plus 2,425,000 shares on forward contracts. His exposure towards ABG shares remains unchanged after the transaction.
Head of DCM, Tarjei Unneland, purchased 830,000 shares at NOK 1.28 per share as settlement of a forward contract previously entered into. The initial forward price of NOK 2.76 per share has been adjusted for dividends, interest changes and earlier settlement of the forward contract. Following the transaction, Unneland owns 2,300,000 shares plus 2,700,000 shares on forward contracts. His exposure towards ABG shares remains unchanged after the transaction.
CFO, Geir B. Olsen, purchased 100,000 shares at NOK 1.28 per share as settlement of a forward contract previously entered into. The initial forward price of NOK 2.76 per share has been adjusted for dividends, interest changes and earlier settlement of the forward contract. Following the transaction, Olsen, incl. a 100% owned company, owns 1,000,000 shares plus 600,000 shares on forward contracts. His exposure towards ABG shares remains unchanged after the transaction.
Head of Legal, Jessica Blink, purchased 25,000 shares on a forward contract with settlement 1 June 2027 at a forward price of NOK 7.91 per share. In addition, Blink purchased 60,000 shares at NOK 1.28 per share as settlement of a forward contract previously entered into. The initial forward price of NOK 2.76 per share has been adjusted for dividends, interest changes and earlier settlement of the forward contract. Following the transaction, Blink owns 250,000 shares plus 25,000 shares on a forward contract.
Head of Compliance, Roar Hatling, purchased 200,000 shares at a price of NOK 1.28 per share as settlement of a forward contract previously entered into. The initial forward price of NOK 2.76 per share has been adjusted for dividends, interest adjustments and earlier settlement of the forward contract. Hatling, incl. a 100% owned company, owns 512,100 shares plus 100,000 shares on a forward contract following the transactions. His exposure towards ABG remains unchanged after the transactions.
Treasury shares
ABGSC owns 9,554,105 treasury shares following the transactions above. ABGSC has forward contracts with partners purchasing a total of 103,701,800 with settlement in 2022 – 2027. ABGSC has authorisation to re-purchase its shares in the market or to issue new shares.
Contacts:
Jonas Ström, CEO +46 8 566 294 68
Geir B. Olsen, CFO +47 22 01 60 35