In order to facilitate employee ownership in the bank the board of Sparebanken Sør has decided to continue the savings program for full-time employees in the bank.
Full-time employees in the bank are invited to buy equity certificates in the bank for amounts between NOK 15,000 and NOK 65,000, with a 20% discount to the market price. The purchase is financed by deducting an equal amount from the salary over the next 12 months. The discount is given subject to a 24-month lock up period.
The savings program is implemented as a resale where the bank will sell from its own holdings of equity certificates. If the bank's employees order a higher number of equity certificates in the savings program than the bank's own holdings, the bank will carry out a buyback of equity certificates in connection with the savings program.
This information is subject to the disclosure requirements pursuant to verdipapirhandelloven § 5-12. (the Norwegian Securities Trading Act)
For further information, please contact: Steinar Vigsnes, CFO, +47 906 13 135, Steinar.Vigsnes@sor.no