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ABL Group ASA: Exercise of employee share options and share capital increase

Oslo, Norway, 31 August 2022: Participants in ABL Group ASA’s (“ABL Group” or the “Company”) share option program have on 31 August 2022 exercised a total of 5,265,000 options according to the option program for 2019 at a strike price of NOK 3.32.

Each option gives a right to receive one share in the Company. The share options are described in note 16 in ABL Group’s annual financial statements for 2021.

Following the exercise, the Board of Directors, pursuant to authorisation granted by the Company’s Annual General Meeting, has decided to increase the Company’s share capital by NOK 526,500 by issuing 5,265,000 new shares, of par value NOK 0.1. Subsequent to the transaction, ABL Group’s share capital will be NOK 10,476,986.20 divided into 104,769,862 shares, each share having a par value of NOK 0.1 and carrying one vote in the Company’s general meeting.

The following options are exercised by primary insiders:

  • 135,000 options are exercised by primary insider of the Company Reuben Segal, CEO. Following the transaction, Segal and his close associates will own 1,933,003 shares in the Company.
  • 135,000 options are exercised by primary insider of the Company Bader Diab, COO. Following the transaction, Diab will own 1,652,695 shares in the Company.
  • 135,000 options are exercised by primary insider of the Company Will Cleverly, Managing Director Renewables. Following the transaction, Cleverly will own 178,931 shares and 100,000 share options in the Company.
  • 135,000 options are exercised by primary insider of the Company Haakon Brandrud, Director of Strategy and Corporate Development. Following the transaction, Brandrud will own 413,084 shares in the Company.

Primary insider notifications pursuant to the market abuse regulation article 19 are attached below.

A total of 630,000 vested options were not exercised and will be extended by 1 year.

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