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Otello Corporation ASA

07/09/2019 | Press release | Distributed by Public on 07/09/2019 00:16

Exercise of employee share options and release of employee restricted share units

Exercise of employee share options and release of employee restricted share units

09.07.2019 08:00

1. Participants in the Company's option and RSU program have on July 8th 2019 exercised 25,000 options and settled 14,742 RSU's. Following the release, 39,742 shares will be transferred from the Company's holding of own shares. Subsequent to the transaction Otello Corporation ASA holds 2,387,258 own shares. 2. Options exercised and RSU's released by primary insiders July 8th 2019: Jason Arthur Hoida has exercised 25,000 options, which expired, in the Company, corresponding to 25,000 shares at the strike price of NOK 11.90. Lars Boilesen has received 14,742 shares. 3. Transfer of rights and sale of shares. On July 8th, 2019, the primary insider mentioned below transferred their rights to receive shares resulting from the exercise of options to a third party. Jason Arthur Hoida has transferred 25,000 rights. When the participants receive the shares they will be subject to pay salary tax on the total value of the shares received. In order to cover the taxes the employees must at minimum sell a predetermined rate of the shares set by Opera. On July 8th, 2019 the primary insider mentioned below ordered for the received shares to be immediately sold by a third party. Lars Boilesen has sold 8,099 shares to cover taxes. The sales amount will be finally determined on the basis of the price subsequently obtained by the third party when selling the shares in the market. The payment has been determined based on a selling price of NOK 14.8634 per share. 4. New Holding After completion of the abovementioned transactions, Jason Arthur Hoida holds 280,000 unexercised options in the Company. As of today the primary insider holds 8,579 shares in the Company. After completion of the abovementioned transactions, Lars Boilesen holds 1,200,000 unexercised options in the Company. As of today the primary insider holds 258,381 shares in the Company. Petter Lade, CFO Phone: +47 91143878 E-mail: [email protected] About Otello: Otello holds shares in several different businesses, including (i) AdColony which helps publishers monetize their content through advertising and advertisers reach the audiences that build value for their businesses, capitalizing on a global consumer audience reach that exceeds 2 billion ; (ii) Bemobi, a Mobile Media and Entertainment company which integrate people and mobile content through technology and offers a leading subscription-based discovery service for mobile apps in Latin America and beyond ; (iii) Skyfire which offers cloud-based network solutions for mobile operators and (iv) Vewd which offers OTT services in the Connected TV space.