Mowi (OSE:MOWI): Share purchase program for employees in Mowi
The Board of Directors of Mowi ASA (the "Company") has resolved to offer all permanent employees in the Company and its Norwegian, Scottish and Canadian subsidiaries the opportunity to purchase shares in the Company at a discounted price.
The offer to the employees is based on the average purchasing price for the Company's shares on 11 November 2020 of NOK 182.4868 per share.
The Norwegian Tax Act §5-14 provides Norwegian employees with a right to purchase shares with a tax-free discount of up to NOK 5,000 in such offer. Based on the above, eligible employees in Norway have been given three alternative offers.
- Alternative 1: Purchase 42 shares at a value of approximately NOK 7,500, with a tax-free discount of NOK 1,500 and a purchase price around NOK 6,000.
- Alternative 2: Purchase 83 shares at a value of approximately NOK 15,000, with a tax-free discount of NOK 3,000 and a purchase price around NOK 12,000.
- Alternative 3: Purchase 165 shares at a value of approximately NOK 30,000, with a tax-free discount of NOK 5,000, a taxable discount of NOK 1,000 and a purchase price around NOK 24,000.
Eligible employees in Scotland and Canada were given the same offers, however, without any element of tax-free discount.
At the end of the acceptance period, the Company had received acceptances of these offers from 860 employees for a total of 130,379 shares. To comply with its obligation in relation to the acceptances received, the Company has on 11 November 2020 purchased 130,379 shares in the market at an average price of NOK 182.4868. In total 130,379 shares will be sold to the employees having accepted to participate in the share program on the terms referred to above.
Attached is an overview of primary insiders in the Company that have increased their shareholding according to the above.
This information is subject to the disclosure requirements pursuant to section 4-2 and 5-12 of the Norwegian Securities Trading Act.
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