MANDATORY NOTIFICATION OF TRADE – DIRECTORS' REMUNERATION
Reference is made to the annual general meeting held 4 June 2019 where, inter alia, the shareholders approved directors' remuneration where certain directors' after-tax amount of the fixed remuneration shall be used to subscribe or purchase shares in the Company. If subscribed, the shares are to be subscribed at a price equal to 85% of the closing trading price at the date of the ordinary meeting. If the remuneration is to be paid in the form of treasury shares, the director shall receive a number of extra shares which equals the discount when subscribing new shares.
In accordance with this, the Company has decided to pay the remuneration in the form of treasury shares. The closing trading price on 4 June was NOK 14.50. Accordingly, the Company has transferred the following number of shares to the following primary insiders:
Andre Christensen, chairman of the board, has received 24,341 shares, each at an implied purchase price of NOK 12.33. After this transaction, Andre Christensen has 24,341 shares.
Frode Jacobsen, board member, has received 11,156, shares, each at an implied purchase price of NOK 12.33. After this transaction, Frode Jacobsen has 21,404 shares.
Maria Borge Andreassen, board member, has received 11,156 shares, each at an implied purchase price of NOK 12.33. After this transaction, Maria Borge Andreassen has 11,156 shares.
After the above transaction, the Company has a holding of 2,408,347 treasury shares.
Petter Lade, CFO
Phone: +47 91143878
Otello holds shares in several different businesses, including (i) AdColony which helps publishers monetize their content through advertising and advertisers reach the audiences that build value for their businesses, capitalizing on a global consumer audience reach that exceeds 2 billion; (ii) Bemobi, a Mobile Media and Entertainment company which integrate people and mobile content through technology and offers a leading subscription-based discovery service for mobile apps in Latin America and beyond; (iii) Skyfire which offers cloud-based network solutions for mobile operators and (iv) Vewd which offers OTT services in the Connected TV space.