Aker Offshore Wind Holding AS

07/16/2021 | Press release | Distributed by Public on 07/16/2021 00:55

Aker Offshore Wind: Share purchase program and buyback of own shares

16 July 2021 - Aker Offshore Wind AS ('Aker Offshore Wind' or the 'Company') will implement a share purchase program and offer employees the opportunity to purchase shares in the Company. The share purchase program will allow the participants to acquire shares in the Company for a trading value of up to 13 % of their estimated 2021 gross annual salary. A price reduction of 30 % of the share price will apply in exchange for the purchased shares being subject to a three-year lock-up period. In addition, the Norwegian participants will be offered a general discount of of 25% of the purchase amount up to a maximum of NOK 7,500, as permitted under Norwegian Tax Law. The participants are responsible for the financing and upfront cash settlement of the purchases. The subscription period for the program is expected to take place on 2 August to 4 August 2021. The price per share in the program (the 'Subscription Price') will be based on the average volume-weighted price on Euronext Growth (Oslo) of the Company's shares being purchased in order to implement the share purchase program. Final number of shares will be allocated to participants on or about 11 August 2021, and the allocated shares are expected to be delivered to participants on or about 13 August 2021, subject to timely payment. To settle subscriptions under the share purchase program, Aker Offshore Wind will purchase own shares on Euronext Growth (Oslo), in accordance with the authorization granted to the Board of Directors in the extraordinary general meeting held on 23 September 2020. DNB Markets, a part of DNB Bank ASA ('DNB') will under an irrevocable mandate issued by Aker Offshore Wind, in accordance with the EU Market Abuse Regulation article 5, buy shares with a trading value of up to NOK 12,241 million in the open market for onwards allocation to the share purchase program participants. Under the mandate, DNB will make its own trading decisions independently of, and uninfluenced by, Aker Offshore Wind. The actual purchasing volume depends on the final Subscription Price. To the extent required, Aker Offshore Wind will issue a new mandate for acquisition of additional shares for use in the program. Any excess shares may be sold by the Company. The buyback of shares will be initiated immediately and is expected to be completed on 10 August 2021. ENDS Contact: Ivar Simensen, Communications, Tel: +47 46 40 23 17, [email protected] Christian Yggeseth, Investor Relations, Tel: +47 915 10 000, [email protected] About Aker Offshore Wind Aker Offshore Wind is an offshore wind developer headquartered in Norway with focus on assets in deep waters. With global operations, the current portfolio consists of development projects and prospects located in Asia, North America and Europe. Aker Offshore Wind effectively deploys cost effective technologies from decades of offshore energy development. The Company is majority-owned by Aker Horizons, an investment company dedicated to creating value and reducing emissions from renewable energy and decarbonization technologies. Aker Offshore Wind (ticker: AOW) is admitted to trading on Euronext Growth in Oslo, Norway. *** The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia) or in any other jurisdiction where such publication or distribution is unlawful. This release is an announcement issued pursuant to legal information obligations, and is subject to Euronext Growth (Oslo)'s disclosure requirements. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the 'US Securities Act'). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.