Statement of leading employees' transactions with NORDEN shares and related securities
Attached please find below text as PDF file.
Dampskibsselskabet NORDEN A/S
_______________________________________________________________________________
NASDAQ OMX Copenhagen A/S Announcement no. 9
6, Nikolaj Plads 17 March 2010
1067 Copenhagen K
Dampskibsselskabet NORDEN A/S
Statement of leading employees' and elected employee representatives' as well
as their closely related parties' transactions with NORDEN shares and related
securities
As reported in NORDEN's annual report of 9 March 2010, NORDEN has established
an option programme for leading employees and other key employees, in total 59
employees. Each share option entitles the recipient to acquire one share
denominated DKK 1 in NORDEN. This year, the programme has been reduced to 0.78%
of the share capital (against 0.85% the previous year). The share options may
be exercised in the period from 9 March 2013 to 9 March 2016.
The exercise price of the options is determined as the five-day average of the
market price following 9 March 2010, less all dividend payments after 9 March
2010 and plus an effective interest rate of 8% p.a. until any exercise. These
are the same conditions which apply to the option programme which the Company
established for 56 employees in March 2009.
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 closely related parties' transactions with the Company's shares an
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: 9 March 2010
Market: NASDAQ OMX Copenhagen A/S
Number: 57,213
Market value of underlying shares in DKK: 14,360,463
Holding after the transaction: 26,240 shares and 290,439 options
Name: Michael Tønnes Jørgensen
Occasion: Executive Vice President & CFO
Issuer: Dampskibsselskabet NORDEN A/S
ISIN code: DK0010269844
Description: Shares
Transaction: Allotment of share options
Commercial date: 9 March 2010
Market: NASDAQ OMX Copenhagen A/S
Number: 31,831
Market value of underlying shares in DKK: 7,989,581
Holding after the transaction: 96 shares and 67,834 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: 9 March 2010
Market: NASDAQ OMX Copenhagen A/S
Number: 19,972
Market value of underlying shares in DKK: 5,012,972
Holding after the transaction: 2,560 shares and 104,954 options
Name: Peter Borup
Occasion: Senior Vice President
Issuer: Dampskibsselskabet NORDEN A/S
ISIN code: DK0010269844
Description: Shares
Transaction: Allotment of share options
Commercial date: 9 March 2010
Market: NASDAQ OMX Copenhagen A/S
Number: 16,227
Market value of underlying shares in DKK: 4,072,977
Holding after the transaction: 320 shares and 76,289 options
Name: Lars Lundegaard
Occasion: Senior Vice President
Issuer: Dampskibsselskabet NORDEN A/S
ISIN code: DK0010269844
Description: Shares
Transaction: Allotment of share options
Commercial date: 9 March 2010
Market: NASDAQ OMX Copenhagen A/S
Number: 12,857
Market value of underlying shares in DKK: 3,227,107
Holding after the transaction: 440 shares and 67,378 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: 9 March 2010
Market: NASDAQ OMX Copenhagen A/S
Number: 11,671
Market value of underlying shares in DKK: 2,929,421
Holding after the transaction: 1,597 shares and 58,012 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: 9 March 2010
Market: NASDAQ OMX Copenhagen A/S
Number: 11,859
Market value of underlying shares in DKK: 2,976,609
Holding after the transaction: 1,440 shares and 54,880 options
Name: Vibeke Schneidermann
Occasion: Senior Vice President
Issuer: Dampskibsselskabet NORDEN A/S
ISIN code: DK0010269844
Description: Shares
Transaction: Allotment of share options
Commercial date: 9 March 2010
Market: NASDAQ OMX Copenhagen A/S
Number: 9,986
Market value of underlying shares in DKK: 2,506,486
Holding after the transaction: 440 shares and 32,807 options
Name: Peter Norborg
Occasion: Senior Vice President
Issuer: Dampskibsselskabet NORDEN A/S
ISIN code: DK0010269844
Description: Shares
Transaction: Allotment of share options
Commercial date: 9 March 2010
Market: NASDAQ OMX Copenhagen A/S
Number: 23,405
Market value of underlying shares in DKK: 5,874,655
Holding after the transaction: 440 shares and 97,647 options
The theoretical Black-Scholes value of each of the options is DKK 54.09 based
on the exercise price which is determined as the five-day average of the market
price following 10 March 2010. The estimated value is calculated based on the
following assumptions: that all options are exercised at the earliest time
possible, a volatility of 50.6%, an annual dividend rate of DKK 5 per share
(from 2011) and a risk free interest rate of 1.64%.
Kind regards,
Dampskibsselskabet NORDEN A/S
Michael Tønnes Jørgensen
Executive Vice President & CFO
Contact at tel. +45 3315 0451: Executive Vice President & CFO Michael Tønnes
Jørgensen.
_______________________________________________________________________________
Dampskibsselskabet NORDEN A/S
52, Strandvejen
DK-2900 HELLERUP
CVR no. 67758919
www.ds-norden.com
