Veidekke ASA: Shares to senior executives 2018: Substantial interest for Veidekke shares
Veidekke's share program for employees continues to be a popular measure. At the end of the subscription period for this spring's sales to senior executives, 601 people had accepted the offer - and ordered 959,144 shares. The result of this spring's offer demonstrates confidence in the company's development.
- Veidekke's share program for employees is a measure we have offered more or less every year since Veidekke was listed on Oslo Børs in 1986. The program has become an important part of Veidekke's culture, and through this program, employees have been able to participate in the value creation of their own workplace, says CEO Arne Giske.
Twice a year, Veidekke offers its employees the opportunity to purchase shares in their company. During autumn, the opportunity is offered to all employees, whereas during spring the opportunity is offered to Veidekke's senior executives. In both offers, employees can buy shares with or without partial financing. With financing (Offer A), the shares are offered at a 20% discount. Without financing (Offer B), the shares are offered at a 30% discount. The lock-in period for the shares is three years.
During the subscription period from May 3 to May 11, 1,073 executives in Veidekke was given an opportunity to order between 50 and 2,600 Veidekke shares each. The offer prices ended at NOK 72.77 (Offer A) and NOK 63.67 (Offer B), after the discount has been deducted.
The breadth of Veidekke's share program is high, and after this spring's offer, around 4,000 employees in Denmark, Sweden and Norway own shares in the company.
The purchases of primary insiders, as well as new holdings, are attached to this report.
Contacts:
SVO Finance Jørgen Michelet, +47 91 74 38 56 , jorgen.michelet@veidekke.no
Finanskonsulent Heidi Hvidsten, +47 91 54 04 65 , heidi.hvidsten@veidekke.no
Communications Manager Helge Dieset, +47 90 55 33 22 , helge.dieset@veidekke.no
Veidekke is one of Scandinavia's largest construction and property development companies. The company undertakes all types of building construction and civil engineering contracts, develops residential projects, maintains roads, and produces asphalt and aggregates. The company is known for its involvement and local knowledge. Revenue is almost NOK 32 billion, and half of the 8,000 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has always posted a profit since it was founded in 1936.