1. Participants in the Company's share option program have on 2 May 2012 exercised a total number of 583,500 options.
Based on the power of attorney granted at the annual general meeting of SPU on 20 May 2011, the Board of Directors of SPU has in board proceedings on 2 May 2012 approved a share issue of 583,500 shares, each with a face value of NOK 1.0 at the option price of NOK 12.01 per share for 132,000 of the new shares, NOK 12.30 for 1,500 of the new shares and NOK 9.14 for 450,000 of the new shares. As a result, the share capital will be increased by NOK 583,500 from NOK 38,023,016 to NOK 38,612,516. The number of shares after the issue is 38,612,516.
2. Options exercised by primary insiders on 2 May 2012
- David Rowlands has exercised 15,000 options at NOK 12.01 per share.
- Graham Dearing has exercised 1,500 options at NOK 12.01 per share.
- Hege Buer has exercised 1,500 options at NOK 12.30 per share.
- Henning Olset has exercised 45,000 options at NOK 12.01 per share.
- Jan Schoolmeesters has exercised 52,500 options at NOK 12.01 per share.
- Jim Martin has exercised 7,500 options at NOK 12.01 per share.
- Rhys Edwards has exercised 7,500 options at NOK 12.01 per share.
- Rune Eng has exercised 450,000 options at NOK 9.14 per share.
3. Transfer of rights
On 2 May 2012, the primary insiders listed above, with the exception of Mr. Graham Dearing, transferred their rights to receive shares resulting from the exercise of the options to a third party. The sales amount will be finally determined on the basis of the price subsequently obtained by the third party when selling the shares in the market. Final compensation for the transferred rights will be reported to Oslo Børs when known.
4. Purchase of shares
On 2 May 2012, the primary insider Hege Buer entered into an agreement to use part or all of the compensation mentioned in item 3 to purchase shares. When known, the final number of shares, along with the compensation, will be reported to Oslo Børs.
5. New holdings
After exercising options, the primary insiders listed in item 2 have the following holdings:
- David Rowlands holds 85,000 options at a strike price of NOK 12.01 per share, and 168,800 shares in the Company.
- Graham Dearing holds 8,500 options at a strike price of NOK 12.01 per share, and 1,500 shares in the Company.
- Hege Buer holds 8,500 options at a strike price of NOK 12.30 per share.
- Henning Olset holds 255,500 options at a strike price of NOK 12.01 per share.
- Jan Schoolmeesters holds 647,500 options at a strike price of NOK 12.01 per share, and 10,000 shares in the Company.
- Jim Martin holds 42,500 options at a strike price of NOK 12.01 per share, and 14,184 shares in the Company.
- Rhys Edwards holds 42,500 options at a strike price of NOK 12.01 per share, and 55,500 shares in the Company.
- Rune Eng holds 2,550,000 options at a strike price of NOK 9.14 per share, and 35,000 shares in the Company.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.