Veidekke ASA: Veidekke welcomes 223 new shareholders

 "Following the autumn's sale of shares to Veidekke employees, we would like to welcome another 223 employees as shareholders," says CEO Terje R. Venold. "Employees bought shares for a total value of 75 million, so belief in the future of Veidekke is clearly present," he adds.

Employee ownership has always been a priority in Veidekke and twice a year, Veidekke offers employees to purchase shares in the company.  After this year's sale, 3,300 employees own a total of 20 % of the company.

 "We believe that involvement and co-ownership are two of our key success factors," Terje R. Venold says. "Being a shareholder provides insight into the company in a more engaging way, and we are also convinced that employees with shares have an added sense of responsibility for their own and others' savings," says Venold. 

In figures, this year's sale of shares to employees can be summarised as follows:

5,875 Veidekke employees received an offer to purchase between 50 and 2,300 Veidekke shares. The purchase price was set at NOK 37.45, which is the average price during the subscription period from 8 to 16 November 2012, less a 20% discount. The shares are subject to a two-year lock-in period.

Interest was significant and 1,798 employees, or 31% of those who received the offer, bought shares. Corresponding figures for 2011 and 2010 were 33% and 31% respectively. It must be mentioned here that the price this year was approx. 20% above last year's price.

For primary insiders, the picture was as follows:

Name Position No. of shares New holding of shares
Arne Giske EVP 1,500 176,700
Bente Lillestøl EVP 2,300 64,560
Dag Andresen EVP 1,500 218,725
Inge Ramsdal Board member, employee representative 1,000 5,800
Jørgen Wiese Porsmyr EVP, CFO 2,300 89,945
Kai Krüger Henriksen EVP 1,500 154,250
Kristoffer Eide Hoen Adviser 500 700
Lars Sevald Skaare Board member, employee representative 2,300 87,575
Odd André Olsen Board member, employee representative 500 1,900
Per-Ingemar Persson EVP 2,300 140,300
Terje R. Venold President and CEO 2,300 367,415

For further information, please contact:
EVP Communications Kai Krüger Henriksen, tel. +47 90 51 93 60,
Assistant CFO Christopher M. Bjerke, tel. +47 99 58 18 02,
Financial Consultant Marte Hoggen Bolsø, tel. +47 93 63 25 77, marte.hoggen.bolso @

For more information, please contact:
Chief Executive Officer Terje R. Venold, tel. (+47) 21 05 77 01 / (+47) 90 58 23 23 m,   
Executive Vice President, Communication, Kai Krüger Henriksen, tel. (+47) 21 05 77 04 / (+47) 90 51 93 60 m,
Communications Manager Helge Dieset of Veidekke, tel. + 47 21 05 77 91 /+47 90 55 33 22,

Veidekke is one of Scandinavia's leading contractors and property developers with a turnover of NOK 18 billion (2011) and 6,500 employees. Activities include building and construction projects, residential developments, asphalt plants, gravel and aggregates, and road maintenance. Our values are professional, honest, enthusiastic and pioneering. Our goals for health, safety and the environment, HSE, have equal status with our financial goals.  Veidekke is characterised by a strong corporate culture with employee involvement and co-ownership as important cornerstones. More than half of the employees are co-owners, holding around 20% of the Group's shares between them. The company is listed on the Oslo Stock Exchange and has never declared a loss since it was founded in 1936.