Reference is made to previous stock exchange notices of 22 June 2020 and 29 June
2020 made by SATS ASA (the "Company"), regarding the Share Investment Program
for employees and certain members of the board of directors.
Under the Share Investment Program a total of 204 employees and members of the
board have subscribed for a total of 1,770,636 new shares, each with a nominal
value of NOK 2.125. The Company reserved the right to cancel any subscription if
the subscriber failed to make timely payment for the new shares. Certain
subscribers failed to make payment within a reasonable time after the payment
date 1 July and the Company has cancelled their subscriptions. In addition there
are some subscribers who have not deposited the entire amount payable for the
shares they have subscribed for and consequently the number of shares will be
reduced. As a result the number of shares subscribed for under the Share
Investment Program is 1,763,386.
The subscriptions for shares under the Share Investment Program have been
reduced for the following primary insiders:
Anna Raftheim, HR director, subscription has been reduced with 13 shares to
6,149 shares. After the transaction the primary insider holds 10,462 shares, in
addition to the shares held by her in SATS Management Invest AS, which owns own
9,376,376 shares in the Company, corresponding to approximately 5.5% of the
shares in the Company.
Jussi Raita, Country Manager Finland, subscription has been reduced with 6
shares to 27,592 shares. After the transaction the primary insider holds 27,592
shares, in addition to the shares held by him in SATS Management Invest AS,
which owns own 9,376,376 shares in the Company, corresponding to approximately
5.5% of the shares in the Company.
For shares subscribed for by other primary insiders, reference is made to the
stock exchange announcement of 29 June 2020.
The share capital increase pertaining to the issuance of shares is expected to
be registered with the Norwegian Register of Business Enterprises (Nw.
Foretaksregisteret) on or about 9 July 2020.
Investor Relations:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Stine Klund, Finance and Investor Relations Manager, phone: +47 986 99 259
