Vow ASA Reduces Shared Holdings Following Forced Sale
Vow ASA's Shareholding Update
In a significant development, Vow ASA has announced a reduction in its shareholding following a transaction mandated by its lender, Badin Invest Limited. This action has led to the sale of 673,986 shares, which decreased the company's overall holdings from 5,996,927 shares to 5,322,941 shares. This change represents a shift from approximately 5.22% of the company's total shares to about 4.64%.
Impact on CEO and Personal Holdings
The company’s CEO, Henrik Badin, is directly affected by this sale. When taking into account the consolidated stock holdings of Mr. Badin and his spouse, their shareholding has fallen from 6,110,259 shares, roughly 5.32%, to 5,436,273 shares, which is about 4.73%. This decline highlights the substantial impact that external financial pressures can have on company executives and their personal investments.
Further Details on the Transaction
For those interested in more intricate details regarding this transaction, the company has indicated that the complete Notification of transaction document is available for review. This document elaborates on the specifics surrounding the sale and its implications on the current market position of Vow ASA.
Regulatory Compliance
This announcement follows the provisions laid out in article 19 of the EU Market Abuse Regulation and complies with the guidelines under sections 4-2 and 5-12 of the Norwegian Securities Trading Act. Vow ASA is committed to transparency and adheres strictly to existing regulatory frameworks that govern market transactions.
Frequently Asked Questions
What triggered the sale of shares by Vow ASA?
The share sale was a result of a directive from Badin Invest Limited, the lender associated with Vow ASA's CEO.
How does this sale affect Henrik Badin's holdings?
Henrik Badin's and his spouse's combined holdings decreased significantly due to this forced share sale.
What percentage of Vow ASA's shares does the CEO currently hold?
After the sale, Badin's consolidated holdings are approximately 4.73% of the company's total shares.
Where can I find the official Notification of transaction?
The official Notification of transaction can be reviewed for further details; it is published by Vow ASA following regulatory requirements.
What regulations guide this announcement?
This announcement adheres to the EU Market Abuse Regulation and Norwegian Securities Trading Act, showcasing Vow ASA's commitment to compliance.
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