Aker Solutions ASA to Execute Employee Share Purchase Program
Aker Solutions is offering employees in selected jurisdictions the opportunity to purchase shares in the company.
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.