BRG Borregaard

Borregaard ASA: Share options issued

Borregaard ASA: Share options issued

16.02.2021: Borregaard ASA ("Borregaard", OSE ticker: BRG)

Borregaard's Board of Directors has decided to issue share options in accordance with the proxy given by the Annual General Meeting held on 15 June 2020. The total number of options issued is 249,000.

The options will expire after five years (16 February 2026), and may be exercised in the last two years. The strike price of the options is NOK 183.20. It is based on the volume weighted average share price during the first three trading days after the announcement of the 4th quarter 2020 results with an addition of 10%. The strike price will be adjusted for dividend and equity transactions. The maximum annual gain is limited to twice the annual base salary for the CEO, and equivalent to the annual base salary for the other option holders. At least 50% of the proceeds after tax must be used to purchase shares in the Company, and the purchased shares will be locked for a period of three years. The members of the Executive Management are expected to acquire shares until their shareholdings equal their annual base salary, and twice the base salary for the CEO.

The primary insiders granted stock options today have the following holdings of options and shares in Borregaard after the new share options were issued (new options in parenthesis):

Per A. Sørlie holds 280,000 options (40,000) and owns 163,899 shares

Tom Erik Foss-Jacobsen holds 102,000 options (15,000) and owns 29,321 shares

Per Bjarne Lyngstad holds 87,000 options (10,000) and owns 60,502 shares

Sveinung Heggen holds 68,000 options (8,000) and owns together with related parties 22,810 shares

Ole Gunnar Jakobsen holds 80,000 options (10,000) and owns 32,069 shares

Gisle Løhre Johansen holds 75,000 options (10,000) and owns 21,476 shares

Kristin Misund holds 33,000 options (8,000) and owns 59,810 shares

Liv Longva holds 38,000 options (8,000) and owns 10,985 shares

Dag Arthur Aasbø holds 68,000 options (8,000) and owns 53,802 shares

The total number of outstanding share options is now 1,624,000, equivalent to 1.62% of the number of shares (including 380,579 treasury shares) in Borregaard.

Contacts:

Chief Financial Officer, Per Bjarne Lyngstad, mobile  515

Senior Vice President Organisation and Public Affairs, Dag Arthur Aasbø, mobile

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

 



EN
16/02/2021

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