Songa Offshore SE : Mandatory notification of trade
Reference is made to the 13 May 2013 announcement of Mr. Bjørnar Iversen taking up the position as CEO of Songa Offshore SE as from 1 June 2013.
Mr. Iversen has today been awarded 1,000,000 stock appreciation rights (each a “Right”). Each Right gives Mr. Iversen a right to receive, upon exercise, a cash compensation equal to the quoted share price of the shares upon exercise, less the strike price. The strike price is NOK 5,71 per share, which equals the closing price for the Shares on the Oslo Stock Exchange on 3 June 2013, being the day on which Mr. Iversen took office. 1/3 of the rights will be vested over a 12 month period counted from 3 June 2013, 1/3 of the rights being vested after 24 months and 1/3 after 36 months. The rights may be exercised by Mr. Iversen at any time in the 24 month period after the relevant vesting period.
Source: Songa Offshore
ISSUERS OF NEWS RELEASES AND NOT OILANDGASPRESS.COM ARE SOLELY RESPONSIBLE FOR THE ACCURACY OF THE CONTENT.
Public relations, press release distribution service, investor relations, SEC filing, regulatory news,upstream, downstream,corporate announcements,technology developments and political news
www.oilandgaspress.com – The ‘one stop shop’ for global Oil and gas press releases!!!
Email: firstname.lastname@example.org to let us know about your events and we’ll list them free of charge
Email: email@example.com to Advertise your company’s services and reach thousands of oil and gas industry executives and professionals