Norsk Hydro: Sale of shares to employees
04 May 2015 - 4:04PM
Norsk Hydro employees have purchased shares under a general
arrangement offered to employees employed by Norsk Hydro in Norway
each year. All employees employed by Norsk Hydro in Norway have
been offered to purchase shares valued at NOK 25,000 or NOK 12,500
with a 50 percent discount. 88 percent of the employees entitled to
the offer have subscribed, and have each been allocated 536 or 268
shares at NOK 23.35 per share. The total number of shares allocated
and transferred on May 4, 2015 is 1,694,564. Norsk Hydro ASA holds
27,410,584 own shares after this transaction and the number of
outstanding shares are 2,041,587,692. With reference to the stock
exchange announcement as of April 1, 2015, the following primary
insiders have under the above mentioned scheme each purchased 536
shares: - President and CEO Svein Richard Brandtzæg, new holding is
181,055. - Executive Vice President and CFO Eivind Kallevik, new
holding is 29,636 - Executive Vice President Arvid Moss, new
holding is 126,304 - Executive Vice President Hilde Merete Aasheim,
new holding is 59,903 - Executive Vice President Anne-Lene Midseim,
new holding is 3,939 - Executive Vice President Inger Sethov, new
holding is 3,663 - Executive Vice President Hanne Simensen, new
holding is 2,764 - Executive Vice President Kjetil Ebbesberg, new
holding is 25,784 - Employee representative to the Board of
Directors Billy Fredagsvik, new holding is 3,698 - Employee
representative to the Board of Directors Ove Ellefsen, new holding
is 8,083 - Employee representative to the Board of Directors Sten
Roar Martinsen, new holding is 4,754 - Company Secretary Ingeborg
Margrethe Liahjell, new holding is 4,750 Investor contact Contact
Pål Kildemo Cellular +47 97096711 E-mail Pål.Kildemo@hydro.com
Press contact Contact Halvor Molland Cellular +47 92979797 E-mail
Halvor.Molland@hydro.com Certain statements included within this
announcement contain forward-looking information, including,
without limitation, those relating to (a) forecasts, projections
and estimates, (b) statements of management's plans, objectives and
strategies for Hydro, such as planned expansions, investments or
other projects, (c) targeted production volumes and costs,
capacities or rates, start up costs, cost reductions and profit
objectives, (d) various expectations about future developments in
Hydro's markets, particularly prices, supply and demand and
competition, (e) results of operations, (f) margins, (g) growth
rates, (h) risk management, as well as (i) statements preceded by
"expected", "scheduled", "targeted", "planned", "proposed",
"intended" or similar statements. Although we believe that the
expectations reflected in such forward-looking statements are
reasonable, these forward-looking statements are based on a number
of assumptions and forecasts that, by their nature, involve risk
and uncertainty. Various factors could cause our actual results to
differ materially from those projected in a forward-looking
statement or affect the extent to which a particular projection is
realized. Factors that could cause these differences include, but
are not limited to: our continued ability to reposition and
restructure our upstream and downstream aluminium business; changes
in availability and cost of energy and raw materials; global supply
and demand for aluminium and aluminium products; world economic
growth, including rates of inflation and industrial production;
changes in the relative value of currencies and the value of
commodity contracts; trends in Hydro's key markets and competition;
and legislative, regulatory and political factors. No assurance can
be given that such expectations will prove to have been correct.
Hydro disclaims any obligation to update or revise any forward
looking statements, whether as a result of new information, future
events or otherwise. This information is subject of the disclosure
requirements pursuant to section 5-12 of the Norwegian Securities
Trading Act.
HUG#1918193