Primary insider disclosure

 The following primary insiders (or their related parties as described below) have, as part of the company's incentive program, committed to acquire shares in Ocean Yield ASA (the "Company" or "Ocean Yield"):

  • Lars Solbakken, CEO of Ocean Yield ASA, has through his wholly owned company Finmarine AS acquired 50,000 shares in Ocean Yield. Upon completion of such acquisition, Lars Solbakken will own, directly or indirectly, 1,640,880 shares in the Company.
  •  Marius Magelie, SVP Finance & Investor Relations, has through his wholly owned company MGM Invest AS committed to acquire 7,500 shares in Ocean Yield. Upon completion of such acquisition, Marius Magelie will own, directly or indirectly, 139,620 shares in the Company.

The acquisition of shares will be made as part of the Company's management incentive program. The price paid per share will equal the closing price as of 10th July 2020 of NOK 23.0 per share, less a discount of 20% reflecting that the shares will have a lock-up period of three years. 

The Company intends to deliver the shares in the form of treasury shares held by or acquired by the Company, and will in order to have shares available for the incentive program buy back a total of up to 100,000 shares in the Company through open market purchases, adding to the Company's current holding of 31,871 treasury shares.

This information is subject of the disclosure requirements pursuant to section 5-2 and 4-2 of the Norwegian Securities Trading Act.

 

About Us

Ocean Yield ASA is a ship owning company with investments in vessels on long -term charters. The company has a significant contract backlog that offers visibility with respect to future earnings and dividend capacity.

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