Exercise of employee share options in Kongsberg Automotive AS
Exercise of employee share options in Kongsberg Automotive ASA ("the Company").
- 1. Out of a total of 8.562.145 exercisable options, employees in Kongsberg Automotive Group have exercised 1.182.478 options. Each share option corresponds to one share. The underlying shares have been provided by sale of the Company’s holding of treasury shares. Subsequent to the transaction Kongsberg Automotive ASA holds 2.185.942 own shares. There will be no share capital increase due to the exercise of share options.
- 2. Options exercised by primary insiders 5 December 2014:
Joachim Magnusson has exercised 102.029 options in the Company, corresponding to 102.029 shares at the strike price of NOK 3,00.
Jonathan Day has exercised 40.000 options in the Company, corresponding to 40.000 shares at the strike price of NOK 5,00.
- 3. Transfer of rights
On 5 December 2014, the primary insiders mentioned below transferred their rights to receive shares resulting from the exercise of options to a third party.
The sales amount will be finally determined on the basis of the price subsequently obtained by the third party when selling the shares in the market. Still, primary insiders cannot be held liable for losses incurred by the third party if the shares are later sold below the strike price. Final compensation for the transferred rights will be reported to Oslo Børs when known.
- 4. New holding
After exercising options, the primary insiders mentioned in paragraph 2 hold the following number of unexercised options in the Company, each option corresponding to one share, at the indicated strike price:
|Strike price, NOK||5,80||1,50||2,00||4,50||5,00||3,00||20,00|
After completion of the above mentioned transactions, the primary insiders hold the following number of shares in the Company:
Joachim Magnusson 123.693
Jonathan Day 139.250