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Aker Solutions Employees Buy Shares for NOK 40 Million

Aker Solutions Employees Buy Shares for NOK 40 Million

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View directory entry for: Aker Solutions

16 December 2016

Aker Solutions employees bought shares for NOK 40 million as part of annual programs for staff and managers.

The company for the eighth consecutive year held share purchase programs to encourage employee ownership. About 900 employees, or 10 percent of eligible staff, participated.

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 Oct. 28 - Nov. 11. The shares were allocated on Dec. 15 and priced at NOK 42.1910 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. 8 - 14.

Aker Solutions ASA sold a total of 938,357 own shares in connection with the programs, leaving the company with 508,954 own shares.

Acquired shares are subject to a three-year lock-up during which