SATS ASA – Notice of Extraordinary General Meeting – New Investment Programme

Oslo, 25 February 2020: The board of directors of SATS ASA (“SATS” or the “Company”, OSE ticker “SATS”) has resolved to propose a new share investment programme for employees with a view to align the interests of the employees with those of the Company’s shareholders.

Under the proposed investment programme, employees of the Company and its subsidiaries will be offered to subscribe for shares in the Company at a discount.

A part of the investment programme will only be available for the executive management and certain other key employees. The Company’s nomination committee has further proposed that the members of the board of directors, except from the chairman Hugo Maurstad due to his role and restrictions as partner of Altor Equity Partners, may participate in the programme. A declaration regarding the salary and other remuneration to the executive management, including a description of the investment programme, has been prepared in accordance with the Norwegian Public Limited Liability Companies Act.

On this basis, the board of directors proposes that the general meeting of SATS resolves to approve the following:

• The determination of salary and other remuneration to the executive management and the board of directors.
• An authorization to the board of directors to increase the share capital in connection with the Company’s investment programme.

An extraordinary general meeting for this purpose is scheduled to be held at the Company’s headquarter on 18 March 2020 at 13:00 hours (CET).

More information about the investment programme, including its main terms and conditions, and the proposed shareholder resolutions in this regard is provided in the notice of the extraordinary general meeting. The part of the investment programme for the members of the Company’s board of directors has been prepared and is proposed by the Company’s nomination committee. The declaration regarding the salary and other remuneration to the executive management is appended to the notice. The notice is attached to the orginal stock excahnge announcement and is also available on the Company’s website www.satsgroup.com.

For further information, please contact:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Stine Klund, Finance and Investor Relations Manager, phone: +47 986 99 259