Aker Solutions employees buy shares for NOK 140 million

Tue Jun 25, 2013 1:45am EDT

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25 June 2013 - Employees of Aker Solutions acquired shares for about NOK 140 million as part of the company's share purchase programmes.
"Aker Solutions in 2012 introduced a new share purchase programme giving each employee the option to buy shares for as much as 60,000 kroner. We also offered a group of senior managers at Aker Solutions the option to buy shares for a maximum amount of 25 percent of their base salary. The response was overwhelming and I am happy to see the trend continue in 2013 with more employees signing up and investing," says Sissel Lindland, chief HR officer at Aker Solutions.
In total, 3,587 participants signed up for the 2013 employee share purchase programme, representing approximately 19 percent of the eligible employees. The average purchase amount was NOK 39,000.
"The programme gives our employees the opportunity to take part in the long-term development of our business and it creates an even stronger connection between the company and our employees," says Sissel Lindland.
Participants were offered a price reduction of 25 % on the share price. Acquired shares will be locked up for a period of three years during which employees will not be able to sell the shares. Participants in the ordinary employee share programme were also offered a discount of NOK 1,500. The subscription period for employee and manager programmes ran from 8 May 2013 to 24 May 2013. Allocation of the shares to be received by each participant in the share programmes was carried out on 24 June 2013, and the shares will be transferred to each participant's VPS account on or about 25 June 2013.
The share price was based on the average volume weighted share price on the Oslo Stock Exchange over the five-day period from 17 to 21 June 2013, giving a price per share of NOK 85.3822 before the discount and price reduction.
Aker Solutions sold a total of 1,822,233 own shares in connection with the programmes. Following the transactions, Aker Solutions holds a total of 2,256,668 own shares.
Enclosed is the overview of shares acquired by primary insiders in relation with the programmes.
For further information, please contact:
Investor relations:
Kate Tonkin, Senior Consultant Investor Relations, Aker Solutions. Tel: +47 22 94 61 68, Mob: +47 454 19 456, E-mail: kate.tonkin@akersolutions.com
Bunny Nooryani, Chief Communications Officer, Aker Solutions. Tel: +47 67 59 42 71, Mob: +47 480 27 575, E-mail: bunny.nooryani@akersolutions.com
Career opportunities:
Visit http://www.akersolutions.com/careers
Aker Solutions provides oilfield products, systems and services for customers in the oil and gas industry world-wide. The company's knowledge and technologies span from reservoir to production and through the life of a field.
Aker Solutions brings together engineering and technologies for oil and gas drilling, field development and production. The company employs approximately 28 000 people in more than 30 countries. We apply the knowledge and create and use technologies that deliver our customers' solutions.
Aker Solutions ASA is the parent company in the group, which consists of a number of separate legal entities. Aker Solutions is used as the common brand and trademark for most of these entities. In 2012 Aker Solutions had aggregated annual revenues of approximately NOK 45 billion. The company is listed on the Oslo Stock Exchange.
This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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Source: Aker Solutions ASA via Thomson Reuters ONE