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NORBIT – Share issue in connection with incentive programs to employees

NORBIT ASA
·2-min read

Trondheim, 2 July 2021: The Board of Directors of NORBIT ASA (the ‘Company’) has decided to approve incentive share purchase programs for all employees in the NORBIT group of companies. In total, 98 employees participated in the programs.

Under the first program, 81 224 shares have been subscribed for, subject to a lock-up period of 12 months. Upon allocation, the subscription price of the shares was set to NOK 14.97, based on a valuation of NOK 18.71, which corresponds to the five-day average volume weighted price of NORBIT ASA’s share prior to 24 June to which a 20 per cent discount was applied.

Under the second program, 378 995 shares have been subscribed for, subject to a lock-up period of 24 months. Upon allocation, the subscription price of the shares was set to NOK 18.38, which corresponds to the five-day average volume weighted price of NORBIT ASA’s share prior to 28 June.

In connection with the incentive share purchase programs, the Board of Directors of the Company has resolved to increase the Company’s share capital by NOK 46 021.90 through the issuance of 460 219 new shares, each with a par value of NOK 0.10. The resolution is based on the authorization to increase the share capital granted by the Company’s general meeting on 4 May 2021.

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Following registration of the share capital increase with the Norwegian Register of Business Enterprises, the Company will have a share capital of NOK 5 724 713.70, divided into 57 247 137 shares, each with a par value of NOK 0.10.

For further queries, please contact:
Per Jørgen Weisethaunet, CEO, +47 959 62 915
Per Kristian Reppe, CFO, +47 900 33 203

About NORBIT ASA
NORBIT is a global provider of tailored technology to carefully selected niches. The company’s business is structured to address its key markets; Oceans is offering tailored technology solutions to global maritime markets, Intelligent Traffic Systems (ITS) is offering connectivity solutions for vehicle identification and tracking, and Product Innovation and Realization (PIR) is offering R&D services and contract manufacturing to key customers.

NORBIT is headquartered in Trondheim, Norway. The company has manufacturing facilities in Selbu and Røros, Norway, and 15 offices and subsidiaries around the world.

For more information: www.norbit.com

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.