Company Announcements

NORBIT – Share issue in connection with incentive programs to employees

Source: OMX
NORBIT – Share issue in connection with incentive programs to employees

Trondheim, 4 July 2022: 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, 133 employees participated in the programs.

Under the first program, a share investment program with a discount, 83 829 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 19.92, based on a valuation of NOK 24.89, which corresponds to the five-day average volume weighted price of NORBIT ASA’s share prior to 20 June to which a 20 per cent discount was applied.

Under the second program, a share matching program, 296 879 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 25.15, which corresponds to the five-day average volume weighted price of NORBIT ASA’s share prior to 27 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 38 070.80 through the issuance of 380 708 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 2022.

Following registration of the share capital increase with the Norwegian Register of Business Enterprises, the Company will have a share capital of NOK 5 890 113.90, divided into 58 901 139 shares, each with a par value of NOK 0.10.

For more information, 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 selected niches, solving challenges and promoting sustainability through innovative solutions, in line with its mission to Explore More. The company is structured in three business segments to address its key markets: Oceans, Connectivity and Product Innovation & Realization (PIR). The Oceans segment delivers tailored technology solutions to global maritime markets. The Connectivity segment providing wireless solutions for identification, monitoring and tracking. The PIR segment offers R&D services, proprietary products and contract manufacturing to key customers. NORBIT is headquartered in Trondheim with manufacturing in Norway, has around 400 employees and a worldwide sales and distribution platform.

For more information: www.norbit.com

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