Reference is made to the announcement of 1 April 2016, in which Hexagon Composites ASA (the "Company") announced the grant of 925,000 share options to employees under its employee share option program, each at a strike price of NOK 20 per share.
Pursuant to the grant, entitled employees in said share option program have exercised a total number of 200 000 of said options, each at the defined strike price. The Company has resolved to settle the economic value of the exercised options through transfer of shares held in treasury and has therefore on 22 March 2019 transferred in total 110 448 treasury shares to the employees as settlement of the exercised options. After the transaction, the Company holds 1 974 882 treasury shares, representing 1.08% of total shares outstanding.
Shares have been delivered to primary insiders as follows:
| Primary insider: | Options exercised | Shares received: | Holding after options exercised: |
| Jon Erik Engeset*) | 150 000 | 60 448 | 201 315 shares 370 000 options |
| Rick Rashilla | 50 000 | 50 000 | 58 000 shares 180 000 options |
*)The shares received on 22 March 2019 are transferred to Dionysos AS, a company 100% controlled by Jon Erik Engeset. After this transaction, Jon Erik Engeset controls 201 315 shares and holds 370 000 stock options.
All options from the referenced 2016 employee share option program have been exercised.
For more information:
David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483 | david.bandele@hexagongroup.com (mailto:david.bandele@hexagongroup.group)
Hiva Ghiri, VP Investor Relations, Hexagon Composites ASA
Telephone: +47 958 66 790 | hiva.ghiri@hexagongroup.com (mailto:hiva.ghiri@hexagongroup.com)
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Hexagon Composites ASA via Globenewswire
