All employees in Norway have been offered to purchase shares valued at NOK 25,000, with a 50 percent discount. For employees taking part in this arrangement, the share price is NOK 28.20 per share, for 443 shares, and will be transferred by the end of April 2018.
The following primary insiders have under the above-mentioned scheme each agreed to purchase 443 shares:
- President and CEO Svein Richard Brandtzæg
- Executive Vice President CFO and Interim Head of Bauxite & Alumina, Eivind Kallevik
- Executive Vice President Primary Metal, Hilde Merete Aasheim
- Executive Vice President Energy & Corporate Business Development, Arvid Moss
- Executive Vice President Rolled Products, Kjetil Ebbesberg
- Executive Vice President Extruded Solutions, Egil Hogna
- Executive Vice President CSR & General Counsel, Anne-Lene Midseim
- Executive Vice President Communication & Public Affairs, Inger Sethov
- Executive Vice President People & HSE, Katarina Nilsson
- Employee representative to the Board of Directors Billy Fredagsvik
- Employee representative to the Board of Directors Svein Kåre Sund
- Employee representative to the Board of Directors Sten Roar Martinsen
- Observer to the Board of Directors Tor Egil Skulstad
- Company Secretary Hans Eide Aarre
Certain statements included in this announcement contain forward-looking information, including, without limitation, information relating to (a) forecasts, projections and estimates, (b) statements of Hydro management concerning plans, objectives and strategies, such as planned expansions, investments, divestments, curtailments 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, and (i) qualified statements such as "expected", "scheduled", targeted", "planned", "proposed", "intended" or similar.
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 businesses; 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.