Aker Solutions Employees Buy Shares for NOK 60 Million

Source: www.gulfoilandgas.com 12/15/2015, Location: Europe

Aker Solutions employees bought shares for NOK 60 million as part of annual programs for staff and managers. The company for the seventh consecutive year held share purchase programs to encourage employee ownership. About 1,500 employees, or 12 percent of eligible staff, participated.

"The program lets employees take part in the long-term development of our business and strengthens ties between the company and employees," said Aker Solutions’ Chief HR Officer Sissel Lindland.

Eligible staff could buy Aker Solutions shares for as much as NOK 60,000 each. The shares were offered at a 25 percent reduction on the market price and a fixed one-off discount. A group of senior managers were also offered the chance to buy additional shares for as much as 25 percent of each individual's salary. These were also at a 25 percent price reduction.

The subscription period for employee and manager programs ran from Nov. 5 – 20 and allocation of the shares was carried out on Dec. 14. The shares were priced at NOK 34.8845 each before the price reduction and discount, which was the average volume weighted share price of Aker Solutions on the Oslo Stock Exchange from Dec. 7 – 11.

Aker Solutions ASA sold a total of 1,737,646 own shares in connection with the programs, leaving the company with 377,311 own shares.

Acquired shares are subject to a three-year lock-up during which employees will not be able to sell the shares. Enclosed is an overview of shares acquired by primary insiders in this year's programs.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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