1. Participants in the Company's share option program have on 2 March 2015 exercised a total number of 466,500 options.
Based on the power of attorney granted at the annual general meeting of SPU on 23 May 2014, the Board of Directors of SPU has in board proceedings on 2 March 2015 approved a share issue of 466,500 shares, each with a face value of NOK 1.0 per share at the option price of NOK 11.50 for 462,000 of the new shares, and NOK 13.36 for 4,500 of the new shares. As a result, the share capital will be increased by NOK 466,500 from NOK 42,860,125 to NOK 43,326,625. The number of shares after the issue is 43,326,625.
2. Options exercised by primary insiders on 2 March 2015
- Henning Olset has exercised 195,000 options at NOK 11.50 per share.
- Richmond Miller has exercised 195,000 options at NOK 11.50 per share.
3. Transfer of rights
On 2 March 2015, the primary insiders listed above 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 March 2015, the primary insider Richmond Miller 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, excluding the shares resulting from the exercise of the options, the primary insiders listed in item 2 have the following holdings:
- Henning Olset holds 21,351 shares in the Company.
- Richmond Miller holds 200,000 options at a strike price of NOK 36.82 per share, and 97,455 shares in the Company.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.