Reference is made to the announcement of 1 April 2016, in which Hexagon Composites ASA (the "Company") announced the grant of 925,000 share options to employees under its employee share option program, each at a strike price of NOK 20 per share.
Pursuant to the grant, the entitled employees in said share option program have exercised a total number of 175 000 of said options, each at the defined strike price. The Company has resolved to settle the economic value of the exercised options through transfer of shares held in treasury and has therefore on 15 March 2019 transferred in total 67 308 treasury shares to the employees as settlement of the exercised options. After the transaction, the Company holds 2 094 921 treasury shares, representing 1.26% of total shares outstanding.
Shares have been delivered to primary insiders as follows:
|Primary insider:||Options exercised||Shares received:||Holding after options exercised:|
| Jack Schimenti || 100 000 || 38 462 || 98 803 shares|
230 000 options
| Dan Krick || 50 000 || 19 231 || 0 shares|
180 000 options
For more information:
David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483 | [email protected]
Hiva Ghiri, VP Investor Relations, Hexagon Composites ASA
Telephone: +47 958 66 790 | [email protected]
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Hexagon Composites ASA via Globenewswire