Songa Offshore SE : Mandatory notification of trade

Songa Offshore SE : Mandatory notification of trade

ID: 265870

(Thomson Reuters ONE) -


Reference is made to the 13 May 2013 announcement of Mr. Bjørnar Iversen taking
up the position as CEO of Songa Offshore SE as from 1 June 2013.

Mr. Iversen has today been awarded 1,000,000 stock appreciation rights (each a
"Right"). Each Right gives Mr. Iversen a right to receive, upon exercise, a cash
compensation equal to the quoted share price of the shares upon exercise, less
the strike price. The strike price is NOK 5,71 per share, which equals the
closing price for the Shares on the Oslo Stock Exchange on 3 June 2013, being
the day on which Mr. Iversen took office. 1/3 of the rights will be vested over
a 12 month period counted from 3 June 2013, 1/3 of the rights being vested after
24 months and 1/3 after 36 months. The rights may be exercised by Mr. Iversen at
any time in the 24 month period after the relevant vesting period.


Limassol, 3 June 2013


This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.




This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: Songa Offshore SE via Thomson Reuters ONE
[HUG#1706739]






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Bereitgestellt von Benutzer: hugin
Datum: 03.06.2013 - 17:16 Uhr
Sprache: Deutsch
News-ID 265870
Anzahl Zeichen: 1672

contact information:
Town:

Oslo



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Business News



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