Allocation of options

Reference is made to the extraordinary general meeting held on 8 November 2018 regarding approval of the option program for Norwegian Energy Company ASA («Noreco» or «the Company»), and as later amended. Further to the general meeting's resolution, the Board of Directors of the Company has allocated 300,000 options with a strike price of NOK 160 to David B. Cook, Chief Executive Officer of Noreco, effective upon commencement of his employment on 1 July 2020. The options must be exercised within five years after award. Options vest over three years, with one-third per year. Following the allocation, Mr Cook owns no shares and 300,000 options in the Company.

This information is subject to disclosure requirements pursuant to section 4-2 of the Norwegian Securities Trading Act.

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Contact:

Cathrine Torgersen, EVP Investor Relations & Communications
Phone: +47 915 28 501
Email: ct@noreco.com

 

About Norwegian Energy Company ASA

Noreco is a publicly owned company with focus on the oil, gas and offshore industry. The Company's shares are listed on the Oslo Stock Exchange (ticker NOR). For further information, please visit: www.noreco.com.