Archer Limited : Share capital increase – vesting of restricted stock units
Hamilton, Bermuda (October 2, 2019)
In connection with Archer’s long term incentive program 588,286 restricted stock units (“RSUs”) have vested and the same amount of common shares have been distributed to Archer employees.
In connection with the vesting of RSUs, Archer Limited has issued 588,286 common shares. The authorized share capital of Archer Limited is USD 10,000,000 divided into 1,000,000,000 common shares of par value USD 0.01 each. Fully paid and outstanding share capital of Archer Limited following the share capital increase is USD 1,480,502.98 consisting of 148,050,298 fully paid common shares of par value of USD 0.01 each.
The following primary insiders were amongst the recipients of shares:
Mr. Kjell-Erik Østdahl, Executive Chairman, received 52,133 shares. After this transaction, Mr. Østdahl holds 52,133 shares and 104,267 RSUs in Archer Limited.
Mr. Dag Skindlo, CFO, received 43,333 shares. After this transaction, Mr. Skindlo holds 203,333 shares, 600 000 stock options and 86,667 RSUs in Archer Limited.
Mr. Adam Todd, General Counsel, received 18,666 shares. After this transaction, Mr. Todd holds 48,166 shares and 49,834 RSUs in Archer Limited.
Mr. Anders Engelsen, VP Business Development, received 18,666 shares. After this transaction, Mr. Engelsen holds 18,666 shares and 37,334 RSUs in Archer Limited.
After these transactions, the total number of options and RSUs outstanding in Archer Limited is 1,140,001 and 1,352,615 respectively.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)