Norwegian Finans Holding ASA (“the Company”) has now determined the bonus for key management for 2018 based on the incentive scheme for key management of the Company and Bank Norwegian AS (“Bank Norwegian”).
Based on this scheme, a part of each employee's bonus claim shall be settled by shares in the Company. Consequently, the board of directors has, on June 28, 2019 approved an allocation of 76,255 of the companys own shares, each with a par value of NOK 1.
The subscription price for the shares to be allocated is NOK 69.51 per share. This subscription price has been based on the market value during the relevant time period in accordance with the Company's guidelines.
The share capital in the Company is unchanged following the transaction, at NOK 186,751,856 divided into 186,751,856 shares. The Company’s remaining balance of own shares is 57,078 after the allocation.
Since the employees' bonus claims are against Bank Norwegian, the Company has assumed these obligations pursuant to an agreement with Bank Norwegian to make possible a debt conversion as settlement mechanism for the shares.
The following primary insiders have been allotted shares by the Company:
Tine Wollebekk has been allotted 16,520 shares, new shareholding amounts to 54,207 shares.
Merete Gillund has been allotted 15,808 shares, new shareholding amounts to 479,282 shares.
Pål Svenkerud has been allotted 12,525 shares, new shareholding amounts to 965,296 shares.
Tore Andresen has been allotted 11,314 shares, new shareholding amounts to 1,072,019 shares.
Fredrik Mundal has been allotted 9,224 shares, new shareholding amounts to 27,971 shares.
Peer Timo Andersen-Ulven has been allotted 7,307 shares, new shareholding amounts to 7,307 shares.
Kristin Thorstensen has been allotted 2,910 shares, new shareholding amounts to 19,233 shares.
Frode Bjørnstad has been allotted 647 shares, new shareholding amounts to 3,347 shares.
Contact person: Pål Svenkerud, CFO in Bank Norwegian
Tel.: +47 934 03 904
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.