Itera ASA has issued a share purchase programme for key employees in the company, pursuant to a power of attorney given by the general meeting on 22 May 2018. The programme is a new long-term incentive programme instead of previously used stock option programmes. The shares have a restriction on sales for a period of 3 years. The restriction period is considered to be a value-reducing element equivalent to a European put option. If the employee terminates his/her employment with the company before the end of the restriction period, the company has an option to repurchase the shares at a value corresponding to the then current market price minus the original NOK value of the value-reducing restriction period. The subscription price of NOK 8.44 per share share is set to the volume-weighted average the last 10 trading days prior to the subscription period, less the original NOK value of the restriction period.
In total, Itera ASA has sold 972,377 shares at a price of NOK 8.44 to a total of 22 employees in the company. New total holding is 1,242,165 shares.
The following purchasers are primary insiders:
CEO, Arne Mjøs, has bought 130,332 shares through his company Arne Mjøs Invest. New holdings are 22,703,977 shares in addition to 2,500,000 shares on future contracts, a total of 25,203,977 shares (31.1% of total outstanding shares). He also has 479,000 options.
CFO Bent Hammer has purchased 130,332 shares. New total holding is 275,607 shares and 303,840 options.
EVP Jon Erik Høgberg has purchased 130,332 shares. New total holding is 637,551 shares and 247,880 options.
Communications Director Ane Gjennestad has through her company Triceps AS purchased 25,000 shares. New total holding is 130,275 shares and 87,280 options.
EVP Niko Nyström has purchased 50,000 shares. New total holding is 353,696 shares and 233,880 options.
EVP Kristian Enger has purchased 70,000 shares. New total holding is 432,707 shares and 233,880 options.
Oddvar Håland, CEO of subsidiary Compendia, has purchased 29,612 shares. New total holding is 71,776 shares and 62,640 options.
Erik Berg Solheim, Board member, has purchased 29,621 shares. New total holding is 34,896 shares and 20,000 options
Odd Khalifi, employee representative to the Board, has purchased 47,394 shares. New total holding is 62,669 shares and 40,000 options.
For further information, please contact:
Bent Hammer, CFO
+47 982 15 497