The Company has now determined the bonus for key management for 2017 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 utilized to acquire new shares in the Company.
Consequently, the board of directors has, on June 18, 2018, resolved a capital increase of NOK 62,959 by issuance of 62,959 new shares, each with a par value of NOK 1. The new shares are issued on the condition that the Financial Supervisory Authority in Norway approves the capital increase and the capital increase is registered with the Norwegian Register of Business Enterprises. Provided that the capital increase is approved, the new share capital in the Company, following registration, will be NOK 186,751,856 divided into 186,751,856 shares.
The subscription price for the shares to be allocated this year is NOK 92.42 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 capital increase was resolved by the Company's board under a mandate to increase the share capital by issuance of new shares, and which was granted to the board by the Company's annual general meeting at May 03, 2018.
Since the employees' bonus claims are against Bank Norwegian, the Company has assumed these obligations pursuant to an agreement with Bank Norwegian in order to make possible debt conversion as settlement mechanism for the new shares.
The following primary insiders have been allotted shares by the Company at a rate of NOK 92.42 per share:
Tine Wollebekk has been allotted 19,687 shares, new shareholding amounts to 34,687 shares.
Pål Svenkerud has been allotted 13,814 shares, new shareholding amounts to 940,271 shares.
Tore Andresen has been allotted 12,570 shares, new shareholding amounts to 1,115,225 shares.
Merete Gillund has been allotted 8,076 shares, new shareholding amounts to 528,474 shares.
Fredrik Mundal has been allotted 6,951 shares, new shareholding amounts to 15,747 shares.
Kristin Thorstensen has been allotted 1,861 shares, new shareholding amounts to 16,323 shares.
Contact person:
Pål Svenkerud, CFO in Bank Norwegian
Tel.: +47 934 03 904
Email: psv@banknorwegian.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
