Registration of the new shares
Reference is made to our announcement 08.01.2021, 15:13 regarding exercise of employee share options in Reach Subsea ASA.
A participant in the Company's share option program exercised on 31.12.2020 a total number of 60,000 options. Following the share option exercise, the Board of Directors, pursuant to authorization granted by the company`s Annual General Meeting, resolved to increase the Company`s share capital by NOK 60,000 by issuing 60,000 new shares, of par value NOK 1. Following the increase the Company`s share capital is NOK 143,606,008 divided into 143,606,008 shares.
The options were exercised by primary insider Bård Thuen Høgheim (Chief Commercial Officer) at the strike price of NOK 1.75. After completion of the abovementioned transaction, the primary insider holds 450,625 shares in the Company. The option program for employees ended 31.12.2020 and all unexercised options have now expired.
The change was registered in the Companies Register (Foretaksregisteret) on 01.03.2021.
For questions, please contact:
Birgitte Wendelbo Johansen, CFO.