NORBIT ASA Launches Employee Share Purchase Initiative
NORBIT ASA's New Employee Share Purchase Program
NORBIT ASA has rolled out an exciting initiative aimed at empowering its workforce. The company's Board of Directors has officially approved a new share purchase program specifically designed for employees across the group. This innovative approach encourages employee participation, with a total of 209 team members joining in.
Overview of the Share Purchase Program
This incentive program operates as a share matching structure. Participants have the incredible opportunity to buy shares at their market value, offering a unique chance for ownership in the company. The real benefit comes in the form of potential compensation—after 24 months, if certain performance criteria are met, participants can receive new shares equivalent to their investment.
Subscription Details
In the current program, employees have subscribed to 135,430 shares. This reflects a strong commitment to teamwork and growth. The subscription price was set at NOK 88.7128 per share, based on the five-day average volume-weighted price prior to June.
Increase in Share Capital
As part of this initiative, the Board of Directors has also made a significant decision to bolster the company's share capital. They will increase it by NOK 13,543.00 through the issuance of the newly subscribed shares. Each share has a nominal value of NOK 0.10, demonstrating a strategic move to support the company’s growth trajectory.
Future Share Structure
Upon successful registration with the Norwegian Register of Business Enterprises, NORBIT ASA will have a total share capital of NOK 6,375,002.70 and will be composed of 63,750,027 shares. This shares structure illustrates the company's dedication to progressing within the market.
Insights into NORBIT ASA
NORBIT ASA stands as a leader in providing tailored technological solutions designed for various sectors. Their mission—‘Explore More’—reflects their commitment to solving challenges and promoting sustainability through innovation. The company's operations span three primary segments: Oceans, Connectivity, and Product Innovation & Realization.
Business Segments Explained
The Oceans segment focuses on creating specialized technology for the maritime industry, ensuring operational excellence in demanding environments. Connectivity brings forward innovative wireless solutions aimed at identification, tracking, and monitoring, essential for various business applications. Lastly, Product Innovation & Realization emphasizes R&D services and contract manufacturing, catering to major clients with cutting-edge solutions.
Conclusion and Company Contact
NORBIT ASA, headquartered in Trondheim, employs around 550 individuals and operates a diversified global sales and distribution platform. This new employee share purchase initiative represents not only an investment in the workforce but also a step toward shared success. For queries related to this program, feel free to reach out to:
Per Jørgen Weisethaunet, CEO, +47 959 62 915
Per Kristian Reppe, CFO, +47 900 33 203
Frequently Asked Questions
What is the purpose of the NORBIT ASA share purchase program?
The program aims to engage employees by giving them the chance to invest in the company and benefit from its growth.
How many employees participated in the share purchase program?
A total of 209 employees participated in this initiative.
What is the subscription price for the new shares?
The subscription price for the new shares was set at NOK 88.7128.
When will participants be eligible for additional shares?
Participants can receive additional shares after 24 months, contingent upon meeting certain conditions.
How much has the company increased its share capital?
NORBIT ASA has increased its share capital by NOK 13,543.00 through the issuance of new shares.
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