Aker Solutions employees buy shares for NOK 137m
Employees in Aker Solutions have acquired shares for approximately NOK 137 million as part of share purchase programmes, the Company press release said.
"The new share purchase programmes were substantially expanded compared to previous years, as employees in five new countries were invited to participate and employees were offered to buy shares for up to NOK 60 000 each. In addition, a group of eligible senior managers in Aker Solutions was offered to purchase shares for a maximum amount of 25 per cent of their base salary. The response was overwhelming. The average purchase amount was almost three times as high as last year," says Sissel Lindland, chief HR officer in Aker Solutions.
In total, 3 120 participants signed up for the employee share purchase programme, representing approximately 18 per cent of the eligible employees. The average purchase amount was NOK 38 000, compared with NOK 15 000 per employee in the previous programme.
"The programme gives our employees the opportunity to take part in the long term development of our business, and it creates an even stronger connection between the company and our staff," says Sissel Lindland.
The participants in the employee share programme have been offered a discount of NOK 1 500 in addition to a price reduction of 25 % on the share price against accepting a three-year lock-up period, during which they will not be able to sell the shares. The group of eligible senior managers that chose to participate in the additional programme presented to them, have been offered a 25 % price reduction on the share price against accepting a three-year lock-up period during which they will not be able to sell the shares.
The subscription period for employee and manager programmes ran from 22 May 2012 to 6 June 2012. Allocation of the shares to be received by each participant in the share programmes was completed on 26 June 2012, and the shares will be distributed on or about 28 June 2012.
The share price was based on the average volume weighted share price on the Oslo Stock Exchange over the 5 day period from 18 to 22 June 2012 giving a price per share of NOK 77.15590 before the discount and price reduction.
In connection with the programme, Aker Solutions sold a total of 1 785 042 own shares. Following the transactions, Aker Solutions holds a total of 3 750 313 own shares.
Enclosed is the overview of shares acquired by primary insiders in relation with the programmes.