Kværner ASA: Kvaerner sells 1 029 652 shares to employees
5 December 2018 - Yesterday, Nordea Markets has on behalf of Kværner ASA sold 1 029 652 shares in relation with the company's share purchase programme for employees. Following the transaction, Kværner ASA holds a total of 1 113 079 own shares. The price was based on the average volume weighted share price on Oslo stock exchange over the five days period from 26 November to 30 November 2018 giving a price per share of NOK 12.0447 More than 2 400 employees in Norway were invited to participate in Kvaerner's fifth share purchase programme where they were offered to buy shares for up to NOK 60 000 each. The participants in the employee share purchase programme were offered a discount of up to NOK 3 000 in addition to a price reduction of 20 percent on the share price. The shares purchased by the employees through the programme are subject to a two year lock-up period from the date of delivery.
Attached is an overview of the primary insiders' share purchases in connection with the programme.
For further information, please contact:
Idar Eikrem, EVP & CFO, Kvaerner, Mob: +47 950 28 363, email: email@example.com
Torbjørn Andersen, Head of IR & Communications, Kvaerner, Mob: +47 928 85 542, email: firstname.lastname@example.org
Kvaerner is a leading provider of engineering, procurement and construction (EPC) services, and delivers offshore installations and onshore around the world. Kværner ASA, through its subsidiaries and affiliates ("Kvaerner"), is an international contractor and preferred partner for oil and gas operators and other engineering and fabrication contractors. Kvaerner and its approximately 2 700 HSSE-focused and experienced employees are recognised for delivering some of the world's most amazing and demanding projects.
In 2017, Kvaerner's Field Development segment had consolidated annual revenues of NOK 7.6 billion and the company reported an order backlog at 30 September 2018 of NOK 10.6 billion. Kvaerner is publicly listed with the ticker "KVAER" at the Oslo Stock Exchange. For further information, please visit www.kvaerner.com.
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