Oslo, 31 January 2020: Reference is made to the extraordinary general meeting held on 8 November 2018 regarding approval of the option program for Norwegian Energy Company ASA («Noreco» or «the Company»). Further to the general meeting's resolution, the Board of Directors of the Company has allocated 120,000 options with a strike price of NOK 230. The options must be exercised within five years after award. Options vest over three years, with one-third per year.
The options have been allocated to:
Atle Sonesen, Chief Operating Officer & MD: 100,000 options as described above. Following the allocation, Mr Sonesen owns no shares and 100,000 options in Noreco; and
Cathrine Torgersen, EVP Investor Relations & Communications: 20,000 options as described above. Following the allocation, Ms Torgersen owns no shares and 20,000 options in Noreco.
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