Statement of leading employees’ and employee-elected board members’ transactions in NORDEN shares and related securities
Attached please find below text as PDF file.
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Announcement no. 3
12 March 2015
Dampskibsselskabet NORDEN A/S
Statement of leading employees’ and employee-elected board members’ transactions in NORDEN shares and related securities
As stated in NORDEN’s annual report of 4 March 2015, NORDEN has established a share option programme for leading employees and other key employees, in total 65 employees (against 60 employees last year). Each share option entitles the recipient to acquire one NORDEN share with a nominal value of DKK 1. The programme includes a total of 350,000 share options. The share options may be exercised in the period from 4 March 2018 to 4 March 2021.
The exercise price of the options is determined as the five day average of the market price following 4 March 2015, less all dividend payments after 4 March 2015 plus an addition of 10%.
According to section 28A of the Danish Securities Trading Act, the Company shall report the following information about the transactions of leading employees and employee-elected board members in the Company’s shares and related securities:
| Name: | Michael Tønnes Jørgensen |
| Occasion: | Reporting duty, Executive Vice President & CFO |
| Issuer: | Dampskibsselskabet NORDEN A/S |
| ISIN code: | DK0010269844 |
| Description: | Shares |
| Transaction: | Allotment of share options |
| Commercial date: | 12 March 2015 |
| Market: | NASDAQ OMX Copenhagen A/S |
| Number: | 26,975 |
| Market value of allotted shares in DKK: | 510,637 |
| Holding after the transaction: | 1,800 shares and 161,715 options |
| Name: | Lars Bagge Christensen |
| Occasion: | Reporting duty, Executive Vice President |
| Issuer: | Dampskibsselskabet NORDEN A/S |
| ISIN code: | DK0010269844 |
| Description: | Shares |
| Transaction: | Allotment of share options |
| Commercial date: | 12 March 2015 |
| Market: | NASDAQ OMX Copenhagen A/S |
| Number: | 22,480 |
| Market value of allotted shares in DKK: | 425,546 |
| Holding after the transaction: | 2,843 shares and 116,735 options |
| Name: | Martin Badsted |
| Occasion: | Reporting duty, Executive Vice President |
| Issuer: | Dampskibsselskabet NORDEN A/S |
| ISIN code: | DK0010269844 |
| Description: | Shares |
| Transaction: | Allotment of share options |
| Commercial date: | 12 March 2015 |
| Market: | NASDAQ OMX Copenhagen A/S |
| Number: | 22,480 |
| Market value of allotted shares in DKK: | 425,546 |
| Holding after the transaction: | 4,223 shares and 90,493 options |
| Name: | Ejner Kiel Bonderup |
| Occasion: | Reporting duty, Executive Vice President |
| Issuer: | Dampskibsselskabet NORDEN A/S |
| ISIN code: | DK0010269844 |
| Description: | Shares |
| Transaction: | Allotment of share options |
| Commercial date: | 12 March 2015 |
| Market: | NASDAQ OMX Copenhagen A/S |
| Number: | 27,932 |
| Market value of allotted shares in DKK: | 528,753 |
| Holding after the transaction: | 4,942 shares and 83,512 options |
| Name: | Asger Lauritsen |
| Occasion: | Reporting duty, Senior Vice President |
| Issuer: | Dampskibsselskabet NORDEN A/S |
| ISIN code: | DK0010269844 |
| Description: | Shares |
| Transaction: | Allotment of share options |
| Commercial date: | 12 March 2015 |
| Market: | NASDAQ OMX Copenhagen A/S |
| Number: | 14,349 |
| Market value of allotted shares in DKK: | 271,627 |
| Holding after the transaction: | 28,349 options |
| Name: | Kristian Wærness |
| Occasion: | Reporting duty, Senior Vice President |
| Issuer: | Dampskibsselskabet NORDEN A/S |
| ISIN code: | DK0010269844 |
| Description: | Shares |
| Transaction: | Allotment of share options |
| Commercial date: | 12 March 2015 |
| Market: | NASDAQ OMX Copenhagen A/S |
| Number: | 11,479 |
| Market value of allotted shares in DKK: | 217,297 |
| Holding after the transaction: | 4,673 shares and 64,499 options |
| Name: | Vibeke Schneidermann |
| Occasion: | Reporting duty, Senior Vice President |
| Issuer: | Dampskibsselskabet NORDEN A/S |
| ISIN code: | DK0010269844 |
| Description: | Shares |
| Transaction: | Allotment of share options |
| Commercial date: | 12 March 2015 |
| Market: | NASDAQ OMX Copenhagen A/S |
| Number: | 9,087 |
| Market value of allotted shares in DKK: | 172,017 |
| Holding after the transaction: | 723 shares and 54,312 options |
| Name: | Ole Clausen |
| Occasion: | Reporting duty, employee-elected board member |
| Issuer: | Dampskibsselskabet NORDEN A/S |
| ISIN code: | DK0010269844 |
| Description: | Shares |
| Transaction: | Allotment of share options |
| Commercial date: | 12 March 2015 |
| Market: | NASDAQ OMX Copenhagen A/S |
| Number: | 1,837 |
| Market value of allotted shares in DKK: | 34,774 |
| Holding after the transaction: | 1,149 shares and 10,720 options |
The theoretical Black-Scholes value of each option is DKK 18.93 based on the exercise price determined as the five-day average of the market price (all transactions) from 5 March 2015. The estimated value is based on the following assumptions: that all options are exercised after 3.25 years, a volatility of 26.5%, an annual dividend rate of DKK 0 per share (from 2015) and a risk free interest rate of 0%.
Kind regards,
Dampskibsselskabet NORDEN A/S
Michael Tønnes Jørgensen
Executive Vice President & CFO
Further information: Michael Tønnes Jørgensen, Executive Vice President & CFO, tel. +45 3315 0451.
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DAMPSKIBSSELSKABET NORDEN A/S, 52, STRANDVEJEN, DK-2900 HELLERUP, CVR NO. 67758919