Statement of leading employees', elected employee representatives' and their closely related parties' transactions with NORDEN's shares
Attached please find below text as PDF file.
Dampskibsselskabet ”NORDEN” A/S
_______________________________________________________________________________
OMX Nordic Exchange Copenhagen A/S Announcement no. 8
Nikolaj Plads 6 10 March 2008
1067 Copenhagen K Page 1 of 4
Dampskibsselskabet ”NORDEN” A/S
Statement of D/S ”NORDEN”s Leading Employees' and Elected Employee
Representatives' as well as Their Closely Related Parties' Transactions with
D/S ”NORDEN” A/S's Shares and Related Securities
As reported today in NORDEN's Annual Report, NORDEN has established an option
programme for leading employees and other key employees, in total 50 employees.
Each share option entitles the recipient to acquire one share denominated DKK 1
in NORDEN. The share options may be exercised in the period from 10 March 2010
to 10 March 2012. The exercise price of the options is determined as the
five-day average of the market price following 10 March 2008, less all dividend
payments after 10 March 2008 and plus an effective interest rate of 8% p.a.
until any exercise. These are the same conditions which apply to the option
programme the Company established for 40 employees in March 2007.
According to section 28A of the Danish Securities Trading Act, the Company
shall report the following information about the Company's Senior Executives'
and their families' transactions with the Company's shares and relevant
securities:
Name: Carsten Mortensen
Occasion: President & CEO
Issuer: Dampskibsselskabet ”NORDEN” A/S
ISIN code: DK0010269844
Description: Shares
Transaction: Allotment of share options
Commercial date: 10 March 2008
Market: OMX Nordic Exchange Copenhagen A/S
Number: 72,440
Market value of underlying shares in DKK: 37,741,240
Holding after the transaction: 24,553 shares and 259,240 options
Name: Ivar Hansson Myklebust
Occasion: Executive Vice President & CFO
Issuer: Dampskibsselskabet ”NORDEN” A/S
ISIN code: DK0010269844
Description: Shares
Page 2 of 4
Transaction: Allotment of share options
Commercial date: 10 March 2008
Market: OMX Nordic Exchange Copenhagen A/S
Number: 43,180
Market value of underlying shares in DKK: 22,496,780
Holding after the transaction: 1,000 shares and 85,180 options
Name: Jacob Meldgaard
Occasion: Executive Vice President
Issuer: Dampskibsselskabet ”NORDEN” A/S
ISIN code: DK0010269844
Description: Shares
Transaction: Allotment of share options
Commercial date: 10 March 2008
Market: OMX Nordic Exchange Copenhagen A/S
Number: 39,980
Market value of underlying shares in DKK: 20,829,580
Holding after the transaction: 45,873 shares and 142,600 options
Name: Lars Bagge Christensen
Occasion: Senior Vice President
Issuer: Dampskibsselskabet ”NORDEN” A/S
ISIN code: DK0010269844
Description: Shares
Transaction: Allotment of share options
Commercial date: 10 March 2008
Market: OMX Nordic Exchange Copenhagen A/S
Number: 27,820
Market value of underlying shares in DKK: 14,494,220
Holding after the transaction: 2,373 shares and 98,760 options
Name: Lars Lundegaard
Occasion: Senior Vice President
Issuer: Dampskibsselskabet ”NORDEN” A/S
ISIN code: DK0010269844
Description: Shares
Page 3 of 4
Transaction: Allotment of share options
Commercial date: 10 March 2008
Market: OMX Nordic Exchange Copenhagen A/S
Number: 17,380
Market value of underlying shares in DKK: 9,054,980
Holding after the transaction: 253 shares and 62,200 options
Name: Kristian Wærness
Occasion: Senior Vice President
Issuer: Dampskibsselskabet ”NORDEN” A/S
ISIN code: DK0010269844
Description: Shares
Transaction: Allotment of share options
Commercial date: 10 March 2008
Market: OMX Nordic Exchange Copenhagen A/S
Number: 15,640
Market value of underlying shares in DKK: 8,148,440
Holding after the transaction: 253 shares and 53,740 options
Name: Martin Badsted
Occasion: Senior Vice President
Issuer: Dampskibsselskabet ”NORDEN” A/S
ISIN code: DK0010269844
Description: Shares
Transaction: Allotment of share options
Commercial date: 10 March 2008
Market: OMX Nordic Exchange Copenhagen A/S
Number: 13,900
Market value of underlying shares in DKK: 7,241,900
Holding after the transaction: 1,253 shares and 40,840 options
Name: Vibeke Schneidermann
Occasion: Senior Vice President
Issuer: Dampskibsselskabet ”NORDEN” A/S
ISIN code: DK0010269844
Description: Shares
Page 4 of 4
Transaction: Allotment of share options
Commercial date: 10 March 2008
Market: OMX Nordic Exchange Copenhagen A/S
Number: 5,660
Market value of underlying shares in DKK: 2,948,860
Holding after the transaction: 253 shares and 20,660 options
Name: Ole Clausen
Occasion: Employee representative to the Board of Directors
Issuer: Dampskibsselskabet ”NORDEN” A/S
ISIN code: DK0010269844
Description: Shares
Transaction: Allotment of share options
Commercial date: 10 March 2008
Market: OMX Nordic Exchange Copenhagen A/S
Number: 2,320
Market value of underlying shares in DKK: 1,208,720
Holding after the transaction: 253 shares and 8,940 options
The theoretical Black-Scholes value of each of the options is DKK 93.90 based
on the price of the shares of the Company as per close on Friday 7 March. The
value is an estimate as the exercise price will be determined as the five-day
average of the market price from 10 March 2008. The estimated value is
calculated based on the following assumptions: that all options are exercised
at the earliest time possible, a volatility of 42.7%, an annual dividend rate
of DKK 35 per share, and a risk free interest rate of 3.57%.
Kind regards,
Dampskibsselskabet ”NORDEN” A/S
Ivar Hansson Myklebust
Executive Vice President & CFO
Contact at tel. +45 3315 0451: Ivar Hansson Myklebust, Executive Vice President
& CFO.
_______________________________________________________________________________
Dampskibsselskabet ”NORDEN” A/S
49, Amaliegade
DK-1256 COPENHAGEN K
www.ds-norden.com
