Borregaard ASA: Reporting of transactions in Borregaard ASA's shares made by person discharging managerial responsibilities
February 27 2024 - 6:04AM
Borregaard ASA: Reporting of transactions in Borregaard ASA's
shares made by person discharging managerial responsibilities
27.02.24: Borregaard ASA ("Borregaard", OSE ticker: BRG)
Borregaard's Board of Directors has issued share options in
accordance with the proxy given by the Annual General Meeting held
on 18 April 2023. The total number of options issued is
371,000.
The options will expire after five years (27 February 2029) and
may be exercised in the last two years. The strike price of the
options is NOK 199.10. It is based on the volume weighted average
share price (VWAP) during the first three trading days after the
announcement of the 4th quarter 2023 results with an addition of
10%. The strike price will be adjusted for dividend and other
equity transactions. The maximum annual gain is limited to twice
the annual base salary for the Chief Executive Officer, and the
equivalent to the annual base salary for the other option holders.
At least 50% of the proceeds after tax must be used to purchase
shares in the company, and the purchased shares will be locked for
a period of three years. The members of the executive management
are expected to acquire shares until their shareholdings equal
their annual base salary, and twice the base salary for the Chief
Executive Officer.
The primary insiders granted stock options today have the
following holdings of options and shares in Borregaard after the
new share options were issued (new options in parenthesis):
Per A. Sørlie holds 165,000 options (55,000) and owns 165,351
sharesPer Bjarne Lyngstad holds 62,000 (14,000) and owns 61,954
sharesTom Erik Foss-Jacobsen holds 78,000 options (18,000) and owns
30,773 sharesSveinung Heggen holds 49,500 options (12,000) and owns
together with related parties 26,362 sharesOle Gunnar Jakobsen
holds 62,000 options (14,000) and owns 33,521 sharesGisle Løhre
Johansen holds 42,000 options (14,000) and owns 21,974
sharesKristin Misund holds 49,500 options (12,000) and owns 70,223
sharesLiv Longva holds 49,500 options (12,000) and owns 12,437
sharesKnut-Harald Bakke holds 18,000 options (8,000) and owns 1,453
sharesDag Arthur Aasbø holds 49,500 options (12,000) and owns
56,254 shares
Please, see attached notifications for persons discharging
managerial responsibilities in Borregaard in accordance with
Regulation EU 596/2014 (MAR) article 19.
The total number of outstanding share options is now 1,312,000,
equivalent to 1.31% of the number of shares (including 427,384
treasury shares) in Borregaard.
Contacts:Chief Financial Officer, Per Bjarne
Lyngstad, mobile +47 952 44 515Senior Vice President
Organisation and Public Affairs, Dag Arthur Aasbø, mobile +47 918
34 108
This information is subject to the disclosure requirements
pursuant to Section 3-1 of the Norwegian Securities Trading Act,
cf. Regulation (EU) No 596/2014 of the European Parliament and of
the Council of 16 April 2014 on market abuse (market abuse
regulation) Article 19.
- Borregaard ASA - Notification primary insiders
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