NORBIT – Share issue in connection with the 2024 incentive program to employees
Trondheim, 1 October 2024: The Board of Directors of NORBIT ASA (the ‘Company’) has decided to approve an incentive share purchase program for employees in the NORBIT group of companies. In total, 209 employees participated in the program.
The share purchase program is structured as a share matching program where participants are offered the opportunity to acquire shares at market value, and in turn, obtain a right to receive compensation in new shares equivalent to their invested amount after 24 months if certain conditions are met.
In this year’s program a total of 135,430 shares have been subscribed for. Upon allocation, the subscription price of the shares was set to NOK 88.7128, which corresponds to the five-day average volume weighted price of NORBIT ASA’s share prior to 23 June 2024.
In connection with the share issue, the Board of Directors of the Company has resolved to increase the Company’s share capital by NOK 13,543.00 through the issuance of 135,430 new shares, each with a par value of NOK 0.10. The resolution is based on the authorization to increase the share capital granted by the Company’s general meeting on 6 May 2024.
Following registration of the share capital increase with the Norwegian Register of Business Enterprises, the Company will have a share capital of NOK 6,375,002.70, divided into 63,750,027 shares, each with a par value of NOK 0.10.
For further details on shares subscribed for by primary insiders and related parties of the Company, please see the attached forms.
For more information, please contact:
Per Jørgen Weisethaunet, CEO, +47 959 62 915
Per Kristian Reppe, CFO, +47 900 33 203
About NORBIT ASA
NORBIT is a global provider of tailored technology to selected applications, solving challenges and promoting sustainability through innovative solutions, in line with its mission to Explore More. The company is structured in three business segments to address its key markets: Oceans, Connectivity and Product Innovation & Realization. The Oceans segment delivers tailored technology solutions to global maritime markets. The Connectivity segment provides wireless solutions for identification, monitoring and tracking. The Product Innovation & Realization segment offers R&D services, proprietary products, and contract manufacturing to key customers. NORBIT is headquartered in Trondheim with manufacturing in Europe, has around 550 employees, and a worldwide sales and distribution platform.
For more information: www.norbit.com
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
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