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Statement of leading employees’ and employee-elected board members’ transactions in NORDEN shares and related securities

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Dampskibsselskabet NORDEN A/S

______________________________________________________________________________

Announcement no. 4

14 March 2013

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 6 March 2013, NORDEN has established a share option programme for leading employees and other key employees, in total 62 employees (against 68 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 400,000 share options (against 350,000 share options last year). The share options may be exercised in the period from 6 March 2016 to 6 March 2019.

The exercise price of the options is determined as the five-day average of the market price following 6 March 2013, less all dividend payments after 6 March 2013 plus an addition of 10% (against 20% last year).

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: Carsten Mortensen
Occasion: Reporting duty, President & CEO
Issuer: Dampskibsselskabet NORDEN A/S
ISIN code: DK0010269844
Description: Shares
Transaction: Allotment of share options
Commercial date: 6 March 2013
Market: NASDAQ OMX Copenhagen A/S
Number: 70,562
Market value of  
underlying shares in DKK: 12,414,678
Holding after the transaction: 49,763 shares and 304,739 options
   
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: 6 March 2013
Market: NASDAQ OMX Copenhagen A/S
Number: 26,398
Market value of  
underlying shares in DKK: 4,644,464
Holding after the transaction: 853 shares and 144,774 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: 6 March 2013
Market: NASDAQ OMX Copenhagen A/S
Number: 20,753
Market value of  
underlying shares in DKK: 3,651,283
Holding after the transaction: 2,843 shares and 97,183 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: 6 March 2013
Market: NASDAQ OMX Copenhagen A/S
Number: 16,603
Market value of  
underlying shares in DKK: 2,921,132
Holding after the transaction: 1,723 shares and 62,229 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: 6 March 2013
Market: NASDAQ OMX Copenhagen A/S
Number: 23.410
Market value of  
underlying shares in DKK: 3,635,105
Holding after the transaction: 723 shares and 97,947 options
   
Name: Lars Lundegaard
Occasion: Reporting duty, Senior Vice President
Issuer: Dampskibsselskabet NORDEN A/S
ISIN code: DK0010269844
Description: Shares
Transaction: Allotment of share options
Commercial date: 6 March 2013
Market: NASDAQ OMX Copenhagen A/S
Number: 11,705
Market value of  
underlying shares in DKK: 2,059,378
Holding after the transaction: 723 shares and 60,598 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: 6 March 2013
Market: NASDAQ OMX Copenhagen A/S
Number: 11,117
Market value of  
underlying shares in DKK: 1,955,925
Holding after the transaction: 4,223 shares and 56,383 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: 6 March 2013
Market: NASDAQ OMX Copenhagen A/S
Number: 9,015
Market value of  
underlying shares in DKK: 1,586,099
Holding after the transaction: 723 shares and 46,614 options
   
Name: Mikkel Fruergaard
Occasion: Reporting duty, Senior Vice President
Issuer: Dampskibsselskabet NORDEN A/S
ISIN code: DK0010269844
Description: Shares
Transaction: Allotment of share options
Commercial date: 6 March 2013
Market: NASDAQ OMX Copenhagen A/S
Number: 12,950
Market value of  
underlying shares in DKK: 2,278,423
Holding after the transaction: 723 shares and 38,499 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: 6 March 2013
Market: NASDAQ OMX Copenhagen A/S
Number: 1,874
Market value of  
underlying shares in DKK: 329,712
Holding after the transaction: 1,023 shares and 8,955 options

The theoretical Black-Scholes value of each option is DKK 26.05 based on the exercise price determined as the five-day average of the market price (all transactions) from 7 March 2013. The estimated value is based on the following assumptions: that all options are exercised after 3.25 years, a volatility of 29.4%, an annual dividend rate of DKK 2 per share (from 2014) and a risk free interest rate of 0.24%.

Kind regards,

Dampskibsselskabet NORDEN A/S

Michael Tønnes Jørgensen

Executive Vice President & CFO

 

Further information: Michael Tønnes Jørgensen, Executive Vice President & CFO: +45 3315 0451

 

_______________________________________________________________________________

Dampskibsselskabet NORDEN A/S

52, Strandvejen

DK-2900 HELLERUP

CVR no. 67758919

www.ds-norden.com