{"id":53407,"date":"2024-01-08T13:05:00","date_gmt":"2024-01-08T13:05:00","guid":{"rendered":"https:\/\/abl-group.com\/abl\/?p=53407"},"modified":"2024-01-09T02:31:20","modified_gmt":"2024-01-09T02:31:20","slug":"abl-group-asa-exercise-of-employee-share-options-and-share-capital-increase-2","status":"publish","type":"post","link":"https:\/\/abl-group.com\/abl\/all-media\/news\/investor-news\/2024\/abl-group-asa-exercise-of-employee-share-options-and-share-capital-increase-2\/","title":{"rendered":"ABL Group ASA: Exercise of employee share options and share capital increase"},"content":{"rendered":"\n<p>Oslo, Norway, 8 January 2024: Reference is made to the stock exchange notice<br>issued by ABL Group ASA (&#8220;ABL Group&#8221; or the &#8220;Company&#8221;) on 14 December 2023<br>regarding vesting of employee share options as part of the Company\u2019s long-term<br>incentive plan (\u201cLTIP\u201d).<\/p>\n\n\n\n<p>Participants in ABL Group\u2019s share option program have on 8 January 2024<br>exercised a total of 4,127,500 options distributed as follows:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>180,000 options issued as part of the LTIP 2019 program at an exercise price<br>of NOK 3.09; and<\/li>\n\n\n\n<li>3,947,500 options issued as part of the LTIP 2020 program at an exercise price<br>of NOK 5.26.<\/li>\n<\/ul>\n\n\n\n<p>Each option gives a right to receive one share in the Company. For more<br>information on the LTIP and outstanding share options, please see the Company\u2019s<br>Annual Report as well as the notice to the Annual General Meeting 2023.<\/p>\n\n\n\n<p>Following the exercise, the Board of Directors, pursuant to authorisation<br>granted at the Company&#8217;s Annual General Meeting, has decided to increase the<br>Company&#8217;s share capital by NOK 412,750.00 by issuing 4,127,500 new shares, of<br>par value NOK 0.1. Subsequent to the transaction and the registration of the new<br>shares in the Norwegian Register of Business Enterprises, ABL Group\u2019s share<br>capital will be NOK 12,747,786.70 divided into 127,477,867 shares, each share<br>having a par value of NOK 0.1 and carrying one vote in the Company&#8217;s general<br>meeting.<\/p>\n\n\n\n<p>The following options are exercised by primary insiders:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>135,000 options are exercised by David Wells, board member. Following the<br>transaction, Wells and his close associates will own 1,208,051 shares in the<br>Company.<\/li>\n\n\n\n<li>135,000 options are exercised by Svein Staalen, General Counsel. Following the<br>transaction, Staalen will own 337,864 shares in the Company.<\/li>\n\n\n\n<li>100,000 options are exercised by Will Cleverly, CEO of OWC. Following the<br>transaction, Cleverly will own 278,931 shares in the Company.<\/li>\n\n\n\n<li>160,000 options are exercised by RV Ahilan, Chief Energy Transition Officer.<br>Following the transaction, Ahilan will own 897,705 shares and 100,000 share<br>options in the Company.<\/li>\n<\/ul>\n\n\n\n<p>Ahilan and certain other option holders have transferred their rights to receive<br>shares resulting from the exercised options to a third party. Following a sale<br>of shares, these option holders will receive the net proceeds after deduction of<br>the exercise price and accrued tax. The sales amount will be finally determined<br>on the basis of the price subsequently obtained by the third party in the<br>market. The results of the sales process for Ahilan will be announced in a<br>separate stock exchange notice when known.<\/p>\n\n\n\n<p>Primary insider notifications pursuant to the market abuse regulation article 19<br>are attached.<\/p>\n\n\n\n<p>A total of 5,047,500 vested options were not exercised and will be extended by 1<br>year. After the exercise, the following employee share options remain<br>outstanding:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>450,000 vested share options expiring 11 March 2025, with exercise price NOK<br>3.09;<\/li>\n\n\n\n<li>4,597,500 vested share options expiring 14 September 2025, with exercise price<br>NOK 5.26; and<\/li>\n\n\n\n<li>848,000 share options, vesting 11 July 2025 and expiring 11 April 2026, with<br>exercise price NOK 12.03.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Oslo, Norway, 8 January 2024: Reference is made to the stock exchange noticeissued by ABL Group ASA (&#8220;ABL Group&#8221; or the &#8220;Company&#8221;) on 14 December 2023regarding vesting of employee share options as part of the Company\u2019s long-termincentive plan (\u201cLTIP\u201d). Participants in ABL Group\u2019s share option program have on 8 January 2024exercised a total of 4,127,500 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[977],"tags":[],"sector":[],"service":[],"company":[],"class_list":["post-53407","post","type-post","status-publish","format-standard","hentry","category-977"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.6 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>ABL Group ASA: Exercise of employee share options and share capital increase - ABL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/abl-group.com\/abl\/all-media\/news\/investor-news\/2024\/abl-group-asa-exercise-of-employee-share-options-and-share-capital-increase-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ABL Group ASA: Exercise of employee share options and share capital increase\" \/>\n<meta property=\"og:description\" content=\"Oslo, Norway, 8 January 2024: Reference is made to the stock exchange noticeissued by ABL Group ASA (&#8220;ABL Group&#8221; or the &#8220;Company&#8221;) on 14 December 2023regarding vesting of employee share options as part of the Company\u2019s long-termincentive plan (\u201cLTIP\u201d). Participants in ABL Group\u2019s share option program have on 8 January 2024exercised a total of 4,127,500 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/abl-group.com\/abl\/all-media\/news\/investor-news\/2024\/abl-group-asa-exercise-of-employee-share-options-and-share-capital-increase-2\/\" \/>\n<meta property=\"og:site_name\" content=\"ABL\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-08T13:05:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-09T02:31:20+00:00\" \/>\n<meta name=\"author\" content=\"George Lenox\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"George Lenox\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/news\\\/investor-news\\\/2024\\\/abl-group-asa-exercise-of-employee-share-options-and-share-capital-increase-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/news\\\/investor-news\\\/2024\\\/abl-group-asa-exercise-of-employee-share-options-and-share-capital-increase-2\\\/\"},\"author\":{\"name\":\"George Lenox\",\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/#\\\/schema\\\/person\\\/1a54a8404066452ce3b217824eadc7f5\"},\"headline\":\"ABL Group ASA: Exercise of employee share options and share capital increase\",\"datePublished\":\"2024-01-08T13:05:00+00:00\",\"dateModified\":\"2024-01-09T02:31:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/news\\\/investor-news\\\/2024\\\/abl-group-asa-exercise-of-employee-share-options-and-share-capital-increase-2\\\/\"},\"wordCount\":436,\"publisher\":{\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/#organization\"},\"articleSection\":[\"2024\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/news\\\/investor-news\\\/2024\\\/abl-group-asa-exercise-of-employee-share-options-and-share-capital-increase-2\\\/\",\"url\":\"https:\\\/\\\/abl-group.com\\\/abl\\\/all-media\\\/news\\\/investor-news\\\/2024\\\/abl-group-asa-exercise-of-employee-share-options-and-share-capital-increase-2\\\/\",\"name\":\"ABL Group ASA: Exercise of employee share options and share capital increase - 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