Mandatory notification of trade
Pursuant to the terms of the Long-term Incentive Programme for the Executive
Management implemented by the Board of Directors, based on approval from the
annual general meeting in 2016, the Executive Management may receive a cash
amount, where the net amount less tax shall be used to purchase A-shares in
Odfjell SE (the "Company"). On 15 March 2018, the Board of Directors decided, in
accordance with the terms of such incentive programme, to pay out a cash amount
to members of the Executive Management, which in turn (after tax) has been used
to acquire a total of 23,015 Class A shares in the Company on 16 March 2018. The
purchase price paid for the shares is NOK 31.44, corresponding to the volume
weighted average share price on the Oslo Stock Exchange the last 14 trading days
prior to 16 March 2018.
To facilitate the abovementioned acquisition of shares by the Executive
Management, the Company has on 16 March 2018 sold 23,015 Class A shares
(treasury shares) to the members of the Executive Management at a purchase price
of NOK 31.44 per share. The acquired shares are restricted with a holding period
of three years with certain customary exemptions.
The following primary insiders in the Company has acquired shares in connection
with the abovementioned incentive plan, and have, following this, the following
number of shares in the Company:
|Name and title||Shares acquired|| Total number of shares |
held in the Company
|Kristian V. Mørch, CEO||13,533||102,446 Class A shares/3,500 Class B shares|
|Terje Iversen, CFO||3,272||15,211 Class A shares|
|Harald Fotland, COO||3,867||7,734 Class A shares/4,000 Class B shares|
|Øistein Jensen, Chief of Staff||2,343||13,484 Class A shares|
Following the sale of 23,015 Class A shares, the Company holds 5,796,078 Class A
and 2,322,482 Class B shares (treasury shares) in the Company.
This information is subject to the disclosure requirements pursuant to section
5 -12 of the Norwegian Securities Trading Act.