Following a good share price development for the Hydro share during 2007, all employees in Norway have been offered to purchase shares valued at NOK 20,000 with a 50 percent discount. 84 percent of the employees entitled to the offer have subscribed, and have been allocated 266 shares at NOK 37.57 per share. The total number of shares allocated is 1,364,846. Hydro announced the purchases by the primary insiders under this offer April 16, 2008. The terms are according to Hydro`s share purchase plan for employees in Norway where at least a 12 percent total shareholder return is required to obtain the 50 percent discount.
Norsk Hydro ASA holds 37,287,724 own shares after this transaction and the number of outstanding shares is 1,210,669,225.
Contact Halvor Molland
Telephone +47 22532421
Cellular +47 92979797
Contact Stefan Solberg
Telephone +47 22539280
Cellular +47 91727528
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.
: May 02, 2008