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Dampskibsselskabet NORDEN A/S
______________________________________________________________________________
Announcement no. 5
15 March 2012
Dampskibsselskabet NORDEN A/S
Statement of leading employees' transactions with NORDEN shares and related securities
As stated in NORDEN's annual report of 7 March 2012, NORDEN has established a share option programme for leading employees and other key employees, in total 68 employees (against 65 employees last year). Each share option entitles the recipient to acquire 1 NORDEN share denominated in DKK. As in 2011, 350,000 share options have been granted this year. The share options may be exercised in the period from 7 March 2015 to 7 March 2018.
The exercise price of the options is determined as the five-day average of the market price following 7 March 2012, less all dividend payments after 7 March 2012 plus an addition of 20%.
These conditions are identical with those established by the Company for 65 employees in March 2011.
According to section 28A of the Danish Securities Trading Act, the Company shall report the following information about the transactions of leading employees and their closely related parties in the Company's shares and related securities:
Name: Carsten Mortensen Occasion: Reporting duty, President & CEO Issuer: Dampskibsselskabet NORDEN A/S ISIN code: DK0010269844 Description: Shares Transaction: Allotment of share options Commercial date: 7 March 2012 Market: NASDAQ OMX Koebenhavn A/S Number: 57,376 Market value of underlying shares in DKK: 8,909,345 Holding after the transaction: 43,363 shares and 234,177 options
Name: Michael Toennes Joergensen Occasion: Reporting duty, Executive Vice President & CFO Issuer: Dampskibsselskabet NORDEN A/S ISIN code: DK0010269844 Description: Shares Transaction: Allotment of share options Commercial date: 7 March 2012 Market: NASDAQ OMX Koebenhavn A/S Number: 24,328 Market value of underlying shares in DKK: 3,777,652 Holding after the transaction: 703 shares and 118,376 options
Name: Peter Norborg Occasion: Reporting duty, Executive Vice President Issuer: Dampskibsselskabet NORDEN A/S ISIN code: DK0010269844 Description: Shares Transaction: Allotment of share options Commercial date: 7 March 2012 Market: NASDAQ OMX Koebenhavn A/S Number: 23,410 Market value of underlying shares in DKK: 3,635,105 Holding after the transaction: 723 shares and 97,947 options
Name: Lars Bagge Christensen Occasion: Reporting duty, Senior Vice President Issuer: Dampskibsselskabet NORDEN A/S ISIN code: DK0010269844 Description: Shares Transaction: Allotment of share options Commercial date: 7 March 2012 Market: NASDAQ OMX Koebenhavn A/S Number: 16,249 Market value of underlying shares in DKK: 2,523,145 Holding after the transaction: 2,843 shares and 76,430 options
Name: Peter Borup Occasion: Reporting duty, Senior Vice President Issuer: Dampskibsselskabet NORDEN A/S ISIN code: DK0010269844 Description: Shares Transaction: Allotment of share options Commercial date: 7 March 2012 Market: NASDAQ OMX Koebenhavn A/S Number: 13,053 Market value of underlying shares in DKK: 2,026,870 Holding after the transaction: 161 shares and 61,455 options
Name: Lars Lundegaard Occasion: Reporting duty, Senior Vice President Issuer: Dampskibsselskabet NORDEN A/S ISIN code: DK0010269844 Description: Shares Transaction: Allotment of share options Commercial date: 7 March 2012 Market: NASDAQ OMX Koebenhavn A/S Number: 10,466 Market value of underlying shares in DKK: 1,625,160 Holding after the transaction: 723 shares and 48,893 options
Name: Kristian Wærness Occasion: Reporting duty, Senior Vice President Issuer: Dampskibsselskabet NORDEN A/S ISIN code: DK0010269844 Description: Shares Transaction: Allotment of share options Commercial date: 7 March 2012 Market: NASDAQ OMX Koebenhavn A/S Number: 10,034 Market value of underlying shares in DKK: 1,558,080 Holding after the transaction: 4,223 shares and 45,266 options
Name: Martin Badsted Occasion: Reporting duty, Senior Vice President Issuer: Dampskibsselskabet NORDEN A/S ISIN code: DK0010269844 Description: Shares Transaction: Allotment of share options Commercial date: 7 March 2012 Market: NASDAQ OMX Koebenhavn A/S Number: 10,282 Market value of underlying shares in DKK: 1,596,589 Holding after the transaction: 1,723 shares and 45,626 options
Name: Vibeke Schneidermann Occasion: Reporting duty, Senior Vice President Issuer: Dampskibsselskabet NORDEN A/S ISIN code: DK0010269844 Description: Shares Transaction: Allotment of share options Commercial date: 7 March 2012 Market: NASDAQ OMX Koebenhavn A/S Number: 8,262 Market value of underlying shares in DKK: 1,282,923 Holding after the transaction: 723 shares and 37,599 options
The theoretical Black-Scholes value of each option is DKK 30.17 based on the exercise price determined as the five-day average of the market price (all transactions) from 8 March 2012. The estimated value is based on the following assumptions: that all options are exercised after 3.25 years, a volatility of 42.7%, an annual dividend rate of DKK 4 per share (from 2012) and a risk free interest rate of 0.56%.
Kind regards,
Dampskibsselskabet NORDEN A/S
Michael Toennes Joergensen
Executive Vice President & CFO
Contact at tel. +45 3315 0451: Executive Vice President & CFO Michael Toennes Joergensen.
_______________________________________________________________________________
Dampskibsselskabet NORDEN A/S
52, Strandvejen
DK-2900 HELLERUP
CVR no. 67758919
www.ds-norden.com
Attachment:
https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=382957
Dampskibsselskabet NORDEN A/S
______________________________________________________________________________
Announcement no. 5
15 March 2012
Dampskibsselskabet NORDEN A/S
Statement of leading employees' transactions with NORDEN shares and related securities
As stated in NORDEN's annual report of 7 March 2012, NORDEN has established a share option programme for leading employees and other key employees, in total 68 employees (against 65 employees last year). Each share option entitles the recipient to acquire 1 NORDEN share denominated in DKK. As in 2011, 350,000 share options have been granted this year. The share options may be exercised in the period from 7 March 2015 to 7 March 2018.
The exercise price of the options is determined as the five-day average of the market price following 7 March 2012, less all dividend payments after 7 March 2012 plus an addition of 20%.
These conditions are identical with those established by the Company for 65 employees in March 2011.
According to section 28A of the Danish Securities Trading Act, the Company shall report the following information about the transactions of leading employees and their closely related parties in the Company's shares and related securities:
Name: Carsten Mortensen Occasion: Reporting duty, President & CEO Issuer: Dampskibsselskabet NORDEN A/S ISIN code: DK0010269844 Description: Shares Transaction: Allotment of share options Commercial date: 7 March 2012 Market: NASDAQ OMX Koebenhavn A/S Number: 57,376 Market value of underlying shares in DKK: 8,909,345 Holding after the transaction: 43,363 shares and 234,177 options
Name: Michael Toennes Joergensen Occasion: Reporting duty, Executive Vice President & CFO Issuer: Dampskibsselskabet NORDEN A/S ISIN code: DK0010269844 Description: Shares Transaction: Allotment of share options Commercial date: 7 March 2012 Market: NASDAQ OMX Koebenhavn A/S Number: 24,328 Market value of underlying shares in DKK: 3,777,652 Holding after the transaction: 703 shares and 118,376 options
Name: Peter Norborg Occasion: Reporting duty, Executive Vice President Issuer: Dampskibsselskabet NORDEN A/S ISIN code: DK0010269844 Description: Shares Transaction: Allotment of share options Commercial date: 7 March 2012 Market: NASDAQ OMX Koebenhavn A/S Number: 23,410 Market value of underlying shares in DKK: 3,635,105 Holding after the transaction: 723 shares and 97,947 options
Name: Lars Bagge Christensen Occasion: Reporting duty, Senior Vice President Issuer: Dampskibsselskabet NORDEN A/S ISIN code: DK0010269844 Description: Shares Transaction: Allotment of share options Commercial date: 7 March 2012 Market: NASDAQ OMX Koebenhavn A/S Number: 16,249 Market value of underlying shares in DKK: 2,523,145 Holding after the transaction: 2,843 shares and 76,430 options
Name: Peter Borup Occasion: Reporting duty, Senior Vice President Issuer: Dampskibsselskabet NORDEN A/S ISIN code: DK0010269844 Description: Shares Transaction: Allotment of share options Commercial date: 7 March 2012 Market: NASDAQ OMX Koebenhavn A/S Number: 13,053 Market value of underlying shares in DKK: 2,026,870 Holding after the transaction: 161 shares and 61,455 options
Name: Lars Lundegaard Occasion: Reporting duty, Senior Vice President Issuer: Dampskibsselskabet NORDEN A/S ISIN code: DK0010269844 Description: Shares Transaction: Allotment of share options Commercial date: 7 March 2012 Market: NASDAQ OMX Koebenhavn A/S Number: 10,466 Market value of underlying shares in DKK: 1,625,160 Holding after the transaction: 723 shares and 48,893 options
Name: Kristian Wærness Occasion: Reporting duty, Senior Vice President Issuer: Dampskibsselskabet NORDEN A/S ISIN code: DK0010269844 Description: Shares Transaction: Allotment of share options Commercial date: 7 March 2012 Market: NASDAQ OMX Koebenhavn A/S Number: 10,034 Market value of underlying shares in DKK: 1,558,080 Holding after the transaction: 4,223 shares and 45,266 options
Name: Martin Badsted Occasion: Reporting duty, Senior Vice President Issuer: Dampskibsselskabet NORDEN A/S ISIN code: DK0010269844 Description: Shares Transaction: Allotment of share options Commercial date: 7 March 2012 Market: NASDAQ OMX Koebenhavn A/S Number: 10,282 Market value of underlying shares in DKK: 1,596,589 Holding after the transaction: 1,723 shares and 45,626 options
Name: Vibeke Schneidermann Occasion: Reporting duty, Senior Vice President Issuer: Dampskibsselskabet NORDEN A/S ISIN code: DK0010269844 Description: Shares Transaction: Allotment of share options Commercial date: 7 March 2012 Market: NASDAQ OMX Koebenhavn A/S Number: 8,262 Market value of underlying shares in DKK: 1,282,923 Holding after the transaction: 723 shares and 37,599 options
The theoretical Black-Scholes value of each option is DKK 30.17 based on the exercise price determined as the five-day average of the market price (all transactions) from 8 March 2012. The estimated value is based on the following assumptions: that all options are exercised after 3.25 years, a volatility of 42.7%, an annual dividend rate of DKK 4 per share (from 2012) and a risk free interest rate of 0.56%.
Kind regards,
Dampskibsselskabet NORDEN A/S
Michael Toennes Joergensen
Executive Vice President & CFO
Contact at tel. +45 3315 0451: Executive Vice President & CFO Michael Toennes Joergensen.
_______________________________________________________________________________
Dampskibsselskabet NORDEN A/S
52, Strandvejen
DK-2900 HELLERUP
CVR no. 67758919
www.ds-norden.com
Attachment:
https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=382957
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