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Mandatory notification of trade

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Allocation of options 

Oslo, 31 January 2020: 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»). Further to the general meeting's resolution, the Board of Directors of the Company has allocated 120,000 options with a strike price of NOK 230. The options must be exercised within five years after award. Options vest over three years, with one-third per year.  

The options have been allocated to: 

  • Atle Sonesen, Chief Operating Officer & MD: 100,000 options as described above. Following the allocation, Mr Sonesen owns no shares and 100,000 options in Noreco; and 

  • Cathrine Torgersen, EVP Investor Relations & Communications: 20,000 options as described above. Following the allocation, Ms Torgersen owns no shares and 20,000 options in Noreco. 

 

Contact: 

Tel.: +47 22 33 60 00 or email: ir@noreco.com 

This information is subject of the disclosure requirements pursuant to section of 5-12 of the Norwegian Securities Trading Act

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About Norwegian Energy Company ASA

Noreco is an independent Norwegian oil company. The company's focus is to explore, develop and produce oil and gas in the North Sea region. Since incorporation in 2005, the company has grown through licensing rounds, exploration and acquisitions. Noreco operates in Norway, Denmark and United Kingdom, and employs 47 oil and gas professionals. Noreco is listed on the Oslo Børs (ticker NOR). For further information, please visit: www.noreco.com.

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