Mandatory notification of trade
(Thomson Reuters ONE) -
Reference is made to the 3 May 2010 announcement of Mr Geir Karlsen taking up
the position as CFO of Songa Offshore SE as from today's date and the 9 December
2009 announcement related to the Company's current incentive program.
Mr Karlsen has today been awarded 200,000 stock appreciation rights (each a
"Right"). Each Right gives Mr Karlsen 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 19.88 per share, which equals the
closing price for the Shares on the Oslo Stock Exchange on 2 August 2010, being
the day on which Mr Karlsen took office. The rights will be vested over a 17
month period counted from 1 August 2010, with 1/2 of the rights being vested
after 5 months (i.e. per 1 January 2011) and 1/2 after 17 months (i.e. per 1
January 2012). The rights may be exercised by Mr Karlsen at any time in the 24
month period after the relevant vesting period.
Limassol, 2010-08-02
This information is subject to disclosure requirements according to section 4-1
and section 5-2 of the Norwegian Securities Trading Act.
[HUG#1435456]
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.
All reproduction for further distribution is prohibited.
Source: Songa Offshore SE via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 03.08.2010 - 08:38 Uhr
Sprache: Deutsch
News-ID 38456
Anzahl Zeichen: 0
contact information:
Town:
Oslo
Kategorie:
Business News
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"Mandatory notification of trade"
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Songa Offshore SE (Nachricht senden)
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