1. Participants in the Company's share option program have on 23 March 2012 exercised a total number of 944 493 options.
Based on the power of attorney granted at the annual general meeting of EMGS on 22 June 2011, the Board of Directors of EMGS has in board proceedings on 23 March 2012 approved a share issue of 944,493 shares, each with a face value of NOK 0.25 at the option price of NOK 4.28 per share for 219,000 of the new shares, NOK 5.50 for 25,000 of the new shares, NOK 5.77 for 687,500 of the new shares and NOK 11.70 for 12,993 of the new shares. As a result, the share capital will be increased by NOK 236,123.25 from NOK 49,360,390.50 to NOK 49,596,513.75. The number of shares after the issue is 198,386,055.
2. Options exercised by primary insiders on 23 March 2012
- Arve Furunes has exercised 12,000 options at NOK 4.28 per share.
- Marianne Bjørkhaug has exercised 3,000 options at NOK 4.28 per share and 2,500 options at 5.77 per share.
- Roar Bekker has exercised 90,000 options at NOK 4.28 per share and 50,000 options at NOK 5.77
3. Transfer of rights
On 23 March 2012, the primary insiders listed below transferred their rights to receive shares resulting from the exercise of 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. Still, primary insiders cannot be held liable for losses incurred by the third party if the shares are later sold below the strike price. Final compensation for the transferred rights will be reported to Oslo Børs when known.
- Marianne Bjørkhaug has transferred 5,500 rights
- Roar Bekker has transferred 140,000 rights
4. Purchase of shares
On 23 March 2012, the primary insider Roar Bekker 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 holding
After exercising options, Arve Furunes holds 8,000 unexercised at the strike price of NOK 4.28, 30,000 unexercised options at the strike price of NOK 5.77 and 25,000 unexercised options at the strike price of NOK 19.30. After exercising options, the primary insider holds 12,000 shares in the Company.
After exercising options, Marianne Bjørkhaug holds 2,000 unexercised options at the strike price of NOK 4.28, 3,000 shares at the strike price of NOK 5.77 and 5,000 unexercised options at the strike price of NOK 19.30. After exercising options, the primary insider holds zero shares in the Company.
After exercising options, Roar Bekker holds 60,000 unexercised options at the strike price of NOK 4.28, 435,000 unexercised options at the strike price of NOK 5.77 and 250,000 unexercised options at the strike price of NOK 19.30. After exercising options, the primary insider holds 130,000 shares in the Company.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.