SATS ASA: Award of matching shares and shares under the 2020 share investment program and mandatory notification of trade
Reference is made to the stock exchange announcement on February 23, 2021, published by SATS ASA (the "Company") in connection with the share investment program implemented in 2020 (the "2020 Share Investment Company").
As part of the 2020 Share Investment Program, certain senior executives and other key employees (the "Participants"), could be rewarded additional shares in the Company without consideration (the "Matching Shares") in the ratio 0.33:1 based on the number of shares originally acquired under the program, subject to certain conditions being fulfilled.
The conditions for awarding Matching Shares have been fulfilled. The board of directors has therefore today resolved to award a total of 12,124 shares to two participants in the 2020 Share Investment Program.
The value of the Matching Shares is NOK 15.77 each, representing the trading price of the Company's shares at the close of trading on March 22, 2024, with a 13.33% discount to reflect the one-year lock-up obligation.
The Company's obligation to award Matching Shares will be settled by existing shares in the Company, held in treasury. Prior to the award of Matching Shares, the Company owned 291,856 shares. Following the award, the Company will have 279,732 shares in treasury, representing approximately 0.14% of the issued share capital.
Certain primary insiders and close associates of primary insiders of the Company have been awarded Matching Shares. See details below and in the attached forms:
- Evert Holding AS, a close associate of Wenche Evertsen (Country Manager Norway), has been awarded 9,255 Matching Shares in the Company.
- Jussi Raita (Country Manager Finland), has been awarded 2,869 Matching Shares in the Company.
The above transactions are notifiable pursuant to Article 19 of the Market Abuse Regulation.
For further information, please contact:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Jonas Sortland Fougner, Investor Relations, phone: +47 948 05 851
This information is subject to disclosure under the Norwegian Securities Trading Act, §5-12.