OKEA ASA - issuance of shares pursuant to long-term retention incentive programs – notifiable trading

The General Meeting in OKEA ASA ("OKEA" or the "company") granted on May 9 2019 an authorisation to the board of directors to issue up to 1,650,000 new shares for the implementation of the company's incentive programs.

Pursuant to the company’s approved long-term retention incentive program and the above authorisation given to the board of directors, the board has today resolved to issue a total of 438 600 shares. The shares will be subject to a 12 months lock-up period, with an exemption for sales necessary to cover any directly related tax limited to 50 % of the shares received.

The subscription price is NOK 0.1 per share.

The following primary insiders are participating in the program, and have subscribed for and been allocated the following numbers of shares (the total number of shares in the company following this issue in brackets): Erik Haugane 86,000 shares (101,000 shares, Haugane also holds shares through Kjørven AS), Andrew McCann 47,300 shares (90,595 shares), Marit Moen Vik-Langlie 43,000 shares (55,884 shares), Kjersti Hovdal 34,400 shares (155,000 shares), Tor Bjerkestrand 34,400 shares (92,662 shares).

Following the above share issuances, the total number of outstanding shares in the company will increase from 102,064,050 shares to 102,502,650 shares. The company's share capital will increase from NOK 10,206,405.00 to NOK 10,250,265.00.


Contact persons:

Erik Haugane, CEO, +47 90 72 16 55

Marit Moen Vik-Langlie, VP Legal, + 47 40 76 36 71