Kitron: Issue of shares under share incentive program
(Thomson Reuters ONE) -
(2016-10-25) Reference is made to Kitron ASA's ("Kitron") previous disclosures
regarding its share incentive program. Kitron has today received exercises
notices from the participants in the share incentive program and Kitron's board
of directors has consequently resolved to issue 3 230 986 new shares in the
company to the option holders at a strike price of NOK 0.10 per share. The issue
of shares is made pursuant to the board authorisation to issue shares resolved
in Kitron's general meeting held 21 April 2016.
In addition, Kitron has decided to terminate 2 254 014 options under the share
incentive program against cash consideration. The cash consideration will be
utilised to cover the tax cost for the option holders which will be subject to
advance tax deduction by Kitron after exercise of the options. In connection
with the termination of options Kitron has used closing price as at 24 October
2016 for the Kitron shares a reference value for the terminated options.
The following primary insiders have exercised options and subscribed for shares
in the
-------------------------------------------------------------------------------
Number of shares Holding of shares Holding of rights
subscribed for after subscription to shares
-------------------------------------------------------------------------------
CEO and President
Peter Nilsson 973 876 1 148 876 1 000 000
-------------------------------------------------------------------------------
CFO Cathrin
Nylander 420 064 515 064 350 000
-------------------------------------------------------------------------------
COO Israel Losada
Salvador 420 064 460 064 350 000
-------------------------------------------------------------------------------
Tommy Storstein,
Sales Director
Kitron ASA 297 176 297 176 250 000
-------------------------------------------------------------------------------
Hans Petter
Thomassen, Managing
Director Kitron
Norway 177 242 177 242 300 000
-------------------------------------------------------------------------------
Mindaugas Sestokas,
Managing Director
Kitron Lithuania 452 353 452 353 300 000
-------------------------------------------------------------------------------
Thomas Löfgren,
Managing Director
Kitron Sweden 286 041 286 041 300 000
-------------------------------------------------------------------------------
Zygimantas Dirse,
Managing Director
Kitron China 204 170 204 170 150 000
-------------------------------------------------------------------------------
Kitron has furthermore resolved to exercise the right under the share incentive
program to implement trading restrictions on the shares issued under the
abovementioned share capital increase. All shares issued will be subject to
trading restrictions with a duration of two years; however, so that one eighth
of the total number of new shares will vest and become tradable each quarter.
For further information please contact:
Tuomo Lähdesmäki, Chairman Kitron ASA, Tel.: +358-50-5879648.
Kitron is one of Scandinavia's leading electronics manufacturing services
companies for the Defence/Aerospace, Energy/Telecoms, Industry, Medical devices
and Offshore/Marine sectors. The company is located in Norway, Sweden,
Lithuania, Germany, China and the United States. Kitron had revenues of about
NOK 1.95 billion in 2015 and has about 1 250 employees. www.kitron.com
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kitron ASA via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 25.10.2016 - 08:20 Uhr
Sprache: Deutsch
News-ID 502508
Anzahl Zeichen: 4757
contact information:
Town:
Oslo
Kategorie:
Business News
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