Aker Solutions ASA: Buy-Back of Own Shares for Employee Share Purchase Program
May 27, 2021 – Aker Solutions ASA ("Aker Solutions") will buy back own shares in connection with the company’s employee share purchase program for 2021.
Under the program, employees of the company in Norway may purchase shares in Aker Solutions for an amount up to NOK 60,000. A group of selected managers are offered to purchase shares of up to 20 percent of their annual base salary.
Shares will be allocated to participants in June, September and December 2021. In addition, participants who remain employed and have not sold any program shares as of December 31, 2024, will receive matching shares in the ratio 1:2; one matching share for every two shares acquired under the program. The subscription period for the share purchase program ends on June 16, 2021.
DNB will under an irrevocable mandate issued by Aker Solutions, in accordance with the regulations on market abuse and technical standards, buy 8,300,000 shares in the open market for onwards allocation to the share purchase program participants. Under the mandate, DNB will make its own trading decisions independently of, and uninfluenced by, Aker Solutions. The exact number of shares needed for the share program is subject to, inter alia, the number of participants and purchase amounts as well as resignations towards the end of 2024. To the extent required, Aker Solutions will issue a new mandate for acquisition of additional shares for use in the program. Any excess shares may be sold by the company.
The share purchases are expected to be finalized no later than end of August 2021 and are subject to statutory stock exchange disclosures. Aker Solutions has a current holding of 1,208,306 own shares.
ENDS
Media Contact:
Torbjørn Andersen, mob: +47 928 85 542, email: torbjorn.andersen@akersolutions.com
Investor Contact:
Fredrik Berge, mob: +47 450 32 090, email: fredrik.berge@akersolutions.com
Aker Solutions delivers integrated solutions, products and services to the global energy industry. We enable low-carbon oil and gas production and develop renewable solutions to meet future energy needs. By combining innovative digital solutions and predictable project execution we accelerate the transition to sustainable energy production. Aker Solutions employs approximately 14,000 people in more than 20 countries.
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This press release may include forward-looking information or statements and is subject to our disclaimer, see https://akersolutions.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.