Mandatory notification of trade
Pursuant to the terms of Odfjell SE’s Long-term Incentive Program, the Executive Management and Global Heads may receive a cash amount, where the net amount less tax shall be used to purchase A-shares in the Company. On March 17, 2021, the Board of Directors decided, in accordance with the terms of such incentive programme, to pay out a cash amount to members of the Executive Management and Global Heads, which in turn (after tax) has been used to acquire a total of 137,127 Class A shares in the Company on March 19, 2021. The purchase price paid for the shares is NOK 26.21, corresponding to the volume weighted average share price on the Oslo Stock Exchange the last 14 trading days of 2020.
To facilitate the abovementioned acquisition of shares, the Company has on March 19, 2021, sold 137,127 Class A shares (treasury shares) to the eligible participants at a purchase price of NOK 26.21 per share. The acquired shares are restricted with a holding period of three years with certain customary exemptions.
The following primary insiders in the Company has acquired shares in connection with the abovementioned incentive plan, and have, following this, the following number of shares in the company:
|Name and title||Shares acquired||Total number of shares held in the Company|
|Kristian V. Mørch, CEO||62,707||242,329 Class A shares/3,500 Class B shares|
|Harald Fotland, COO||17,267||44,822 Class A shares/4,000 Class B shares|
|Terje Iversen, CFO||15,678||47,422 Class A shares|
|Øistein Jensen, CSO||12,380||43,700 Class A shares|
|Bjørn Hammer, Global Head of Tanker Trading||12,838||12,838 Class A shares|
|Adrian Lenning, Global Head of Tank Terminals||12,380||12,380 Class A shares|
|Torger Trige, Global Head of Ship Management||3,878||3,878 Class A shares/190 Class B shares|
Bjørn Kristian Røed, VP Corporate Analysis & IR
Tel: +47 40 91 98 68
The Odfjell Group is one of the leading players in the global market for seaborne transportation and storage of chemicals and other specialty bulk liquids. The Odfjell fleet comprises of approx. 90 ships, which trade both globally and regionally. The tank terminal division consists of five tank terminals and is part of a network of another 12 tank terminals partly owned by related parties. The tank terminals are strategically located at selected international shipping hubs. The Odfjell Group’s headquarters are in Bergen, Norway, and the Group has offices in 13 locations around the world. Odfjell employs around 2300 staff and posted annual gross revenue of USD 872 million in 2019. Read more on Odfjell.com.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.