All employees employed by Norsk Hydro in Norway have been offered to purchase shares valued at NOK 12,500 with a 50 percent discount. 85 percent of the employees entitled to the offer have subscribed, and have each been allocated 378 shares at NOK 16.55 per share. The total number of shares allocated and transferred on April 28, 2016 is 1,184,274.
Norsk Hydro ASA holds 26,104,160 own shares after this transaction and the number of outstanding shares are 2,042,894,116.
With reference to the stock exchange announcement as of April 1, 2016, the following primary insiders have under the above mentioned scheme each purchased 378 shares:
- President and CEO Svein Richard Brandtzæg, new holding is 210,613.
- Executive Vice President and CFO Eivind Kallevik, new holding is 41,802
- Executive Vice President Arvid Moss, new holding is 138,470
- Executive Vice President Hilde Merete Aasheim, new holding is 72,943
- Executive Vice President Anne-Lene Midseim, new holding is 14,139
- Executive Vice President Inger Sethov, new holding is 12,661
- Executive Vice President Hanne Simensen, new holding is 12,564
- Executive Vice President Kjetil Ebbesberg, new holding is 38,631
- Employee representative to the Board of Directors Billy Fredagsvik, new holding is 4,076
- Employee representative to the Board of Directors Ove Ellefsen, new holding is 8,461
- Employee representative to the Board of Directors Sten Roar Martinsen, new holding is 5,132
- Company Secretary Ingeborg Margrethe Liahjell, new holding is 5,128
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.