Allotment of employee stock options
Oslo 28 August 2017 - On 31 May 2017, the annual general meeting of Axactor AB (publ) resolved to issue a new incentive program for the group management, country managers, employees in managing positions within each country manager's organizations respectively and other key employees (the "Program").The new Program is based on the same principles as the previous program issued in November 2015. The duration of the Program is four years. Under the Program, the board of directors was authorised to award employee stock options that in total give the right to subscribe for up to 40 million new shares in Axactor AB (publ). As per today, a total of 14,500,000 employee stock options have been awarded to members in the group management and other important key employees on the group level. The complete terms and conditions for the Program can be found at https://www.axactor.com/sites/default/files/item_16a_-_stock_option_program_a_2017_-_1064866_v2.pdf.
The following primary insiders have been awarded employee stock options under the Program:
Endre Rangnes, CEO, has been awarded 5,000,000 options in Axactor AB (publ)
Johnny Tsolis, EVP & S&P, has been awarded 3,000,000 options in Axactor AB (publ)
Oddgeir Hansen, COO, has been awarded 3,000,000 options in Axactor AB (publ)
Geir Johansen, CFO, has been awarded 750,000 options in Axactor AB (publ)
Robin Knowles, EVP PA, has been awarded 1,250,000 options in Axactor AB (publ)
Siv Farstad, EVP HR, has been awarded 1,000,000 options in Axactor AB (publ)
Anders Gulbrandsen, Treasury Manager, has been awarded 200,000 options in Axactor AB (publ)
Eilif Drageseth, Business Controller, has been awarded 100,000 options in Axactor AB (publ)
Anita Høst, Head of Legal and Compliance, has been awarded 200,000 options in Axactor AB (publ)
One option can be converted into one share in Axactor AB (publ).
For additional information, please contact:
Endre Rangnes, CEO Axactor
Mobile phone: +47 4822 1111
Geir Johansen, CFO & Investor Relations, Axactor
Mobile phone: +47 4771 0451
Axactor Group specializes in both Debt Collection and Debt Purchasing across several countries, with operations in Italy, Germany, Norway, Sweden and Spain. The company has a Nordic base and an ambitious Pan-European growth strategy, which targets the market for non-performing loans (NPL) in Europe. This market is estimated to be about 1,500 billion euros across Europe providing significant opportunities for Axactor's future expansion. Axactor has approximately 888 employees.