Reference is made to the stock exchange notice on 22 June 2020 published by SATS
ASA (the "Company"), regarding the implementation of the Share Investment
Program for employees and certain members of the board of directors. The
Application Period expired today, on 29 June 2020 at 10:00 CEST.
A total of 204 employees have applied for a total of 1,770,636 new shares in the
Company by the end of the Application Period. In accordance with the
authorisation to increase the share capital by the issuance of new shares
granted by the Company’s annual general meeting 26 May 2020, the board of
directors have today resolved to increase the share capital in connection with
the Company’s share investment program by minimum NOK 2,125,000 and maximum NOK
3,762,601.50 by the issuance of up to 1,770,636 new shares. All 1,770,636 new
shares have been subscribed for by the employees and board members who have
applied for shares in the Share Investment Program. The Company reserves the
right to cancel subscriptions by any subscriber if the subscriber fails to make
timely payment for the shares to the Company.
The offer price (before discount) for the new shares is NOK 18.66, which equals
the volume weighted average share price for the Company's shares on the Oslo
Stock Exchange during the 10 trading days prior to the expiry of the Application
Period. The subscribers will receive a discount of 20% or 15% of the offer
price, depending on the length of the lock-up period and the subscription prices
for the new shares are hence NOK 14.93 and NOK 15.86, respectively.
As part of the Investment Program for the Executive Management and other
management personnel, management employees may after the expiration of their
respective lock-up period be awarded additional shares in the Company without
consideration ("Matching Shares") in the ratio of 0.33:1 based on the number of
shares originally acquired under the Share Investment Program, subject to
certain conditions being fulfilled.
The following primary insiders have subscribed for shares in the Company at a
subscription price of NOK 14.93 in the Share Investment Program and been awarded
matching shares:
Sondre Gravir, CEO, has through his wholly owned company Gravir Invest AS
purchased 201,766 shares. 66,987 Matching Shares have been awarded following the
investment, subject to certain conditions being fulfilled. After the transaction
the primary insider holds 329,425 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.
Cecilie Elde, CFO, has through her wholly owned company Moneypenny Invest AS
purchased 201,766 shares. 66,987 Matching Shares have been awarded following the
investment, subject to certain conditions being fulfilled. After the transaction
the primary insider holds 201,766 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.
Christian Øvregaard, Chief Digital Officer, has through his wholly owned company
Tolian Invest AS purchased 134,778 shares. 44,658 Matching Shares have been
awarded following the investment, subject to certain conditions being fulfilled.
After the transaction the primary insider holds 134,778 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.
Anna Raftheim, HR director, has purchased 6,162 shares. 1,786 Matching Shares
have been awarded following the investment, subject to certain conditions being
fulfilled. After the transaction the primary insider holds 10,475 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.
Silje Garberg Ree, Nordic Director of Product and Retail, has through her wholly
owned company Silje Ree Invest AS purchased 134,778 shares. 44,658 Matching
Shares have been awarded following the investment, subject to certain conditions
being fulfilled. After the transaction the primary insider holds 134,778 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.
Gaute Sandal, Nordic Dir. of Customer Journey and Sales Process, has through his
wholly owned company Skogstua Invest AS purchased 134,778 shares. 44,658
Matching Shares have been awarded following the investment, subject to certain
conditions being fulfilled. After the transaction the primary insider holds
134,778 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.
Marianne Orderud, Director of Marketing, Comm. and Digital Sales, has through
her wholly owned company Marianne Orderud AS purchased 134,778 shares. 44,658
Matching Shares have been awarded following the investment, subject to certain
conditions being fulfilled. After the transaction the primary insider holds
134,778 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.
Wenche Evertsen, Country Manager Norway, has through her wholly owned company
Evert Holding AS purchased 134,778 shares. 44,658 Matching Shares have been
awarded following the investment, subject to certain conditions being fulfilled.
After the transaction the primary insider holds 134,778 shares.
Jussi Raita, Country Manager Finland, has purchased 27,598 shares. 8,931
Matching Shares have been awarded following the investment, subject to certain
conditions being fulfilled. After the transaction the primary insider holds
27,598 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.
Eivind Roald, Board Member, has through his wholly owned company CR Holding AS
purchased 21,436 shares. After the transaction the primary insider holds 21,436
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.
Rebekka Herlofsen, Board Member, has through her wholly owned company Ferdinand
Invest AS purchased 16,077 shares. After the transaction the primary insider
holds 16,077 shares.
Siren Sundby, Board Member, has purchased 6,698 shares. After the transaction
the primary insider holds 6,698 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.
Investor Relations:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Stine Klund, Finance and Investor Relations Manager, phone: +47 986 99 259
