Veidekke ASA: Mandatory notification of trade - Shares purchased by employees in 2014
6,130 employees of Veidekke have received offers to purchase between 50 and 1,700 Veidekke shares each. The employees could choose between two alternatives: Option A with 30 % discount and cash payment and option B with 20 % discount and partial financing.
1,947 employees made use of the offer and subscribed a total of 1.51 million shares during the subscription period from 6 to 14 November. However, there was an oversubscription of 31 % and a reduction was done. After the reduction, the employees were permitted to purchase between 50 and 1,000 shares each, and a total of 1.05 million shares were allocated to the employees.
The purchasing prices were set at NOK 45.18 (option A) and NOK 51.64 (option B) after a 30 % and 20 % discount respectively on the market price during the subscription period. The shares are subject to a two-year lock-in period.
For years, Veidekke has worked to promote employee co-ownership in the company. This year interest has been considerable, and 1,947 purchasers represent 32% of those who received the offer. Corresponding figures for 2013 and 2012 were 31% and 31%, respectively.
The purchases of primary insiders, as well as new holdings, are attached to this report.
Finance Manager Marte Hoggen Bolsø, tel. +47 93 63 25 77, firstname.lastname@example.org
Assistant Financial Director Christopher M. Bjerke, tel. +47 99 58 18 02, email@example.com
Communication Manager Helge Dieset, tel. +47 90 55 33 22, firstname.lastname@example.org
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.