Aker Solutions Sells Shares to Employees With 25% Reduction

Aker Solutions employees bought shares for NOK 60 million as part of share purchase programs for staff and managers. About 1,400 employees, or 15 percent of eligible staff, participated.

Eligible staff could buy Aker Solutions shares for as much as NOK 60,000 each. The shares were offered at a 25 percent reduction on the market price and a one-off discount of up to NOK 3,000 on each participant’s total share purchase. 

Selected managers were also offered the chance to buy additional shares for as much as 25 percent of each individual’s salary. These were also at a 25 percent price reduction. 

The subscription period for the employee and manager programs ran from November 1 to November 22. The shares were allocated on December 9 and priced at NOK 21.7207 each before the price reduction and discount, which was the average volume-weighted share price of Aker Solutions on the Oslo Stock Exchange from December 2 to December 6, 2019.

Aker Solutions ASA sold a total of 2,710,165 own shares in connection with the programs, leaving the company with 101,636 own shares.

Acquired shares under both programs are subject to a three-year lock-up during which participants will not be able to sell the shares.