Kongsberg Automotive - Acquisition of shares - Meldepliktig aksjehandel

Today, on August 14 2020, Kongsberg Automotive acquired 12.500.000 treasury shares (“Egne aksjer”) at an average price of NOK 0,176. Following this transaction the Company owns 25.098.454 treasury shares. The reason for the company acquiring these shares is to have sufficient shares to satisfy the long term incentive program (LTI) where around 150 of the company’s top employees receive shares as part of the LTI program. As it is both costly and administratively complicated to issue such LTI shares directly from the company to the LTI participants, the company decided to acquire these shares in the market in spite of the recent capital increase. Furthermore, this prevents further dilution of existing shareholders. With this transaction, all of the company’s requirement for LTI shares is satisfied for the next 9 months. The LTI program is described in the binding part of company’s Statement on Remuneration which was approved by the Annual General Meeting 30 June 2020.