KONGSBERG has since 1996 executed a share program for all employees, where shares in KONGSBERG is offered at a spot rate minus 20% discount. The Board of Directors of KONGSBERG has resolved to reiterate this program in 2019. The share purchases have previously been initiated by the company and spread over a period of approximately 6 months prior to the share program.
For 2019 the company has decided to give DNB Markets a mandate to purchase up to 900 000 own shares (maximum 1 000 000 shares) and for a total value of up to MNOK 120. The purchase period and the mandate is valid as from today, 21st February 2019 and until the earlier of the annual general meeting in 2019 and June 15th 2019. DNB Markets will make its trading decisions in relation to the company’s shares independently of, and without influence by, the company with regard to the timing of the purchases.
The Company has been granted an approval from the annual general meeting of 16th May 2018 to acquire shares to a price between NOK 25 and 300 per share and up to a total nominal value of MNOK 7.5, for the purpose of the share program for employees and long-term incentive (LTI) program for executive managers. A buy-back of approximately 900 000 shares or shares for a total value of up to MNOK 120 is estimated for this purpose. The share buy-back program will be conducted in accordance with the applicable regulations of the Oslo Stock Exchange and the Norwegian Securities Trading Act.
For further information, KONGSBERG refers to the minutes from KONGSBERG’s annual general meeting of 16th May 2018, available at www.kongsberg.com and www.newsweb.no.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.