Reference is made to the announcement on 5 April, 2017, in which Hexagon Composites ASA (the "Company") announced the grant of 1,640,000 share options to employees under its employee share option program, each at a strike price of NOK 27 per share. Of the 1,640,000 options, 1,175,000 options were granted to senior executives and managers listed as primary insiders.
The options may be exercised in part or in full within three weeks following the official announcement of the financial results for the fourth quarter of 2019, first quarter of 2020 and second quarter of 2020.
| Primary insider | Options exercised | Shares received upon exercise of options | Shares held before shares received upon exercise of options | Shares held after exercise of options | Numbers of options held after exercise | Number of PSUs held |
| Jack Schimenti | 150,000 | 40,836 | 98,803 | 139,639 | 80,000 | 165,924 |
The Company has resolved to settle the economic value of the exercised options through transfer of shares held in treasury and has therefore initiated the transfer of 57,170 treasury shares to the employees as settlement of the exercised options. This also includes transfer of treasury shares to non-primary insiders. After the transaction, the Company will hold 1,635,745 treasury shares.
For more information:
David Bandele, CFO, Hexagon Composites
Telephone: +47 920 91 483 | david.bandele@hexagongroup.com
About Hexagon Composites
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility, industrial and consumer applications.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act