Oslo, 1 February 2019: the board of directors of Scatec Solar ASA ("Scatec Solar") has resolved to issue 341,240 shares to key employees following exercise of employee share options, pursuant to the company's share option program established in 2016.
Through the share option exercise, Scatec Solar is increasing the number of shares by 0.003% to 113,753,672.
In connection with the company's share option program, Scatec Solar has on 1 February 2019 resolved to purchase up to 20,000 own shares. The shares will be used for settlement under the share option program.
Upon exercise, all primary insiders are utilising at least the after-tax gain from the option program to buy new shares. This implies that some shares are sold to fund the tax on the options gain as is customary when exercising share options.
Exercise of options by primary insiders:
Raymond Carlsen, Chief Executive Officer has exercised options for 64,141 shares.
Terje Pilskog, EVP Project Development & Project Finance has exercised options for 42,179 shares.
Roar Haugland, EVP Sustainable Business & HSSE has exercised options for 36,946 shares.
Mikkel Tørud, Chief Financial Officer has exercised options for 48,453 shares.
Snorre Valdimarsson, EVP General Counsel has exercised options for 36,946 shares.
Torstein Berntsen, EVP Power Production & Asset Management har exercised options for 39,999 shares.
The primary insiders mentioned above have transferred their rights to receive shares resulting from the exercise of options to a third party. The sales amount will be finally determined on the basis of the price subsequently obtained by the third party in the market. The results of the sales process and final number of new shares for primary insides will be announced in a separate stock exchange notice when known.
An overview of shares and options held by primary insiders after the exercise, but before any purchase of shares in relation to the option exercise, is attached hereto.
All options granted to primary insiders as mentioned above are granted in accordance with the company's share option program established in 2016, as described in the company's annual financial statements for 2017. Please also refer to the announcements made by the company on 6 October 2016, 3 January 2018 and 3 January 2019 for additional details regarding options held by primary insiders.
Share capital after the option exercise:
Scatec Solar's share capital will be increased with NOK 8,531 by issuing 216,203 new shares each at a subscription price of NOK 28.08 and 125,037 new shares at a subscription price of NOK 47.65. Following completion of the share capital increase, the company's share capital will be NOK 2,843,841.80 divided on 113,753,672 shares, each with a nominal value of NOK 0.025.
For further information, please contact:
Ingrid Aarsnes, VP Communication & IR tel: +47 950 38 364 ingrid.aarsnes@scatecsolar.com
About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. A long- term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants and has an installation track record of more than 1 GW. The company has a total of 1.7 GW in operation and under construction in Argentina, Brazil, the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South Africa and Ukraine.
With an established global presence and a significant project pipeline, the company is targeting a capacity of 3.5 GW in operation and under construction by end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'SSO'. To learn more, visit www.scatecsolar.com.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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