Aker Horizons' Share-Based Investment Program Overview
Aker Horizons ASA, under the guidance of its Chairman Kristian Røkke, has implemented a share-based investment program aimed at aligning interests between the Company and its stakeholders. This significant initiative began with a sale of shares in its subsidiary, Aker Horizons Holding AS. Kristian participated in this program back in 2021, investing a total amount of NOK 25 million, comprising NOK 10 million from his own funds and NOK 15 million financed via a loan from the Company.
Settlement of the Share Program
The investment program came to a conclusion in 2024, with Kristian facing a total loss of NOK 23.8 million. A key part of the settlement involved returning the shares back to the Company. Below the settlement terms, Aker Horizons retained the NOK 10 million cash contribution from Kristian, while the remaining balance on the loan—which was not covered by the earnings from selling the shares—was canceled as part of the established agreement.
Loan Cancellation Effects
The loan cancellation allowed Kristian to effectively reduce his loss in the investment to a reported NOK 13.8 million. This mechanism for debt cancellation was embedded into the original terms of the investment program to mitigate potential financial burdens on participants.
Kristian Røkke's Commitment
Recently, Kristian decided to make an additional payment of NOK 13.8 million to the Company. He expressed his acknowledgment of stakeholder concerns, stating, "I recognize the concerns raised by stakeholders and have listened. To reinforce alignment, I have chosen to repay the loan amount that was otherwise cancelled under the agreed terms." This move signifies Kristian's dedication to maintaining transparent and trustworthy relations with all stakeholders involved.
Contact Information
For inquiries regarding this program, stakeholders can reach out to:
Jonas Gamre, Investor Relations, tel: +47 97 11 82 92
Mats Ektvedt, Media, tel: +47 41 42 33 28
Frequently Asked Questions
What was the purpose of the share-based investment program?
The program aimed to align interests between Aker Horizons' leadership and its stakeholders, enhancing accountability and investment commitment.
How much did Kristian Røkke invest in the program?
Kristian Røkke invested a total of NOK 25 million, consisting of NOK 10 million in cash and NOK 15 million financed via a loan.
What happened to the shares after the program concluded?
Upon settlement of the program, the shares were returned to Aker Horizons, retaining the cash contribution and canceling part of the loan.
What does the loan cancellation mean for Kristian?
The loan cancellation initially led to a recognized loss of NOK 13.8 million for Kristian, ultimately reduced after he repaid part of the loan.
How has Kristian responded to stakeholder concerns?
Kristian proactively repaid the loan amount that was canceled, demonstrating his commitment to alignment with stakeholder interests.
