The 2014 employee share purchase program allows participants to buy shares for between NOK 10,000 and NOK 60,000. Participants are offered a general discount of NOK 1,500 on their total share purchase. In addition, a price reduction of 25 percent of the share price will apply in exchange for the purchased shares being subject to a three-year lock-up period. The purchase will be financed by a loan from Aker Solutions to be settled by salary deductions over a twelve-month period.
Aker Solutions is also offering selected managers the opportunity to purchase additional shares, worth as much as 25 percent of their annual base salary, in a separate program. A price reduction of 25 percent of the share price applies in exchange for the purchased shares being subject to a three-year lock-up period. The managers are responsible for the financing and upfront cash settlement of these share purchases.
The subscription period for both programs is November 14-28, 2014.
The price per share will be based on the average volume-weighted share price on the Oslo Stock Exchange over the period December 15-19, 2014. Allocation of shares to the participants is expected on or about December 22, 2014.
Aker Solutions will purchase own shares in the open market for onwards sale to participants under the share programs.
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Aker Solutions is a global provider of products, systems and services to the oil and gas industry. Its engineering, design and technology bring discoveries into production and maximize recovery. The company employs approximately 17,000 people in about 20 countries. Go to www.akersolutions.com for more information on our on our business, people and values.
This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.