Mandatory notification of trade – Directors’ remuneration

Reference is made to the annual general meeting held 2 June 2020 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 2 June was NOK 13.35. Accordingly, the Company has transferred the following number of shares to the following primary insiders:

Andre Christensen, chairman of the board, has received 26,438 shares, each at an implied purchase price of NOK 11.35. After this transaction, Andre Christensen has 50,779 shares. 

Maria Borge Andreassen, board member, has received 12,117 shares, each at an implied purchase price of NOK 11.35. After this transaction, Maria Borge Andreassen has 23,273 shares.

The shares are transferred from Otello holding of treasury shares and Otello’s remaining holding is 881 445 shares.

Petter Lade, CFO

Phone: +47 91143878

E-mail: petterl@otellocorp.com

About Otello:

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.