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|
|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|
|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, firstname.lastname@example.org
Assistant CFO Christopher M. Bjerke, tel. +47 99 58 18 02, email@example.com
Financial Consultant Marte Hoggen Bolsø, tel. +47 93 63 25 77, marte.hoggen.bolso @ veidekke.no
For more information, please contact:
Chief Executive Officer Terje R. Venold, tel. (+47) 21 05 77 01 / (+47) 90 58 23 23 m, firstname.lastname@example.org
Executive Vice President, Communication, Kai Krüger Henriksen, tel. (+47) 21 05 77 04 / (+47) 90 51 93 60 m, email@example.com
Communications Manager Helge Dieset of Veidekke, tel. + 47 21 05 77 91 /+47 90 55 33 22, firstname.lastname@example.org
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.