Aker Solutions ASA confirms execution of employee share purchase programme
8 May 2013 - Today Aker Solutions ASA confirms that its 2013 employee share purchase programme will be executed.
In April 2013, invitations to take part in the 2013 employee share purchase programme (ESP) were distributed to approximately 19,000 employees in ten countries. The employees may subscribe for Aker Solutions shares by choosing from six different purchase categories, from NOK 10,000 up to NOK 60,000. The participants are offered a general discount of NOK 1,500 for their total share purchase. In addition, a price reduction of 25 % of the share price will apply in exchange for the purchased shares being subject to a three year lock-up period under which the shares cannot be sold or otherwise disposed of. Shares purchased under the ESP are financed by a loan from Aker Solutions to each participant, to be settled by way of salary deductions over a period of 12 months.
Aker Solutions has also offered approximately 250 eligible senior officers to take part in the 2013 manager share purchase programme (MSP) under which the participants may purchase shares for up to 25 % of their annual base salary. A price reduction of 25 % of the share price is offered under the MSP in exchange for the purchased shares being subject to a three year lock-up period. Shares purchased under the MSP are to be fully financed by each participant and settled in cash.
The subscription period for both the ESP and the MSP will run from 8 May to 24 May 2013. The price per share will be based on the average volume weighted share price on the Oslo Stock Exchange over the period 17-21 June 2013. Allocation of shares to be received by each participant based on the applicable share price will be carried out on 24 June 2013. The acquired shares will shortly thereafter be transferred to the participants' VPS accounts.
Aker Solutions ASA will use own shares to sell to all participants of the two share programmes. Following the allocation, a new stock exchange release will be published providing information on the total number of shares being sold and details of any share purchases by primary insiders of the company.
ENDS
For further information, please contact:
Investor relations:
Lasse Torkildsen, Head of Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 911 37 194, E-mail: lasse.torkildsen@akersolutions.com
Media:
Bunny Nooryani, Chief Communications Officer, Aker Solutions. Tel: +47 67 59 42 71, Mob: +47 480 27 575, E-mail: bunny.nooryani@akersolutions.com
Career opportunities:
Visit http://www.akersolutions.com/careers
Aker Solutions provides oilfield products, systems and services for customers in the oil and gas industry world-wide. The company's knowledge and technologies span from reservoir to production and through the life of a field.
Aker Solutions brings together engineering and technologies for oil and gas drilling, field development and production. The company employs approximately 28 000 people in more than 30 countries. We apply the knowledge and create and use technologies that deliver our customers' solutions.
Aker Solutions ASA is the parent company in the group, which consists of a number of separate legal entities. Aker Solutions is used as the common brand and trademark for most of these entities. In 2012 Aker Solutions had aggregated annual revenues of approximately NOK 45 billion. The company is listed on the
Oslo Stock Exchange.
This release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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