Eltek ASA: MANDATORY NOTIFICATION OF TRADE
2/15/2013 2:15 AM EST
Key employees and board members in Eltek ASA and its subsidiaries have today
subscribed for a total of 2,152,392 A-shares in Eltek Management Invest AS, a
subsidiary of Eltek ASA, as part of a new co-investment program for the Eltek
group. Eltek ASA's shareholding in Eltek Management Invest AS following the
transaction is one controlling B-share. The price paid per A-share was NOK
3.97, giving an aggregate subscription amount of NOK 8,545,000.
Eltek Management Invest AS has been established for the purpose of investing in
Eltek Valere Holding AS, the only direct subsidiary of Eltek ASA. The amount of
NOK 8,545,000 together with a loan amount of NOK 34,180,000, in aggregate NOK
42,725,000 has been used by Eltek Management Invest AS to acquire 3,259,537
shares in Eltek Valere Holding AS corresponding to 3.27% of the share capital in
the company. Eltek ASA owns the remaining 96.73% of the share capital of Eltek
Valere Holding AS. The following primary insiders have, either directly or
through wholly-owned companies, subscribed for shares in Eltek Management Invest
AS in the above-mentioned transaction:
Colin Howe, 251,889 A-shares in Eltek Management Invest AS
Mark Baker, 125,945 A-shares in Eltek Management Invest AS
Reidar Hagen, 125,945 A-shares in Eltek Management Invest AS
Bengt Lundberg, 88,161 A-shares in Eltek Management Invest AS
Allen Pitts, 125,945 A-shares in Eltek Management Invest AS
Phil Young, 100,756 A-shares in Eltek Management Invest AS
Bob Hurley, 125,945 A-shares in Eltek Management Invest AS
Lars Dousa, 75,567 A-shares in Eltek Management Invest AS
Michel Fraisse,125,945 A-shares in Eltek Management Invest AS
Frode Vågen, 125,945 A-shares in Eltek Management Invest AS
Morten Heiss Schøyen, 62,972 A-shares in Eltek Management Invest AS
For further information, please contact:
Colin Howe, CEO of Eltek ASA, telephone +44 776 846 6446
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This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
[HUG#167856