OSLO, Norway, April 30, 2014 (GLOBE NEWSWIRE) -- Norsk Hydro employees have purchased shares under a general arrangement offered to employees employed by Norsk Hydro in Norway each year.
All employees employed by Norsk Hydro in Norway have been offered to purchase shares valued at NOK 10,000 with a 25 percent discount. 82 percent of the employees entitled to the offer have subscribed, and have each been allocated 336 shares at NOK 22.28 per share. The total number of shares allocated and transferred on April 30, 2014 is 921,984.
Norsk Hydro ASA holds 29,165,988 own shares after this transaction and the number of outstanding shares are 2,039,832,288.
With reference to the stock exchange announcement as of April 1, 2014, the following primary insiders have under the above mentioned scheme each purchased 336 shares:
- President and CEO Svein Richard Brandtzæg, new holding is 160,565
- Executive Vice President and CFO Eivind Kallevik, new holding is 21,075
- Executive Vice President Wenche Agerup, new holding is 55,034
- Executive Vice President Arvid Moss, new holding is 117,685
- Executive Vice President Hilde Merete Aasheim, new holding is 50,699
- Executive Vice President Johnny Undeli, new holding is 53,194
- Employee representative to the Board of Directors Billy Fredagsvik, new holding is 3,162
- Employee representative to the Board of Directors Ove Ellefsen, new holding is 3,547
- Employee representative to the Board of Directors Sten Roar Martinsen, new holding is 4,218
- Company Secretary Anne-Lene Midseim, new holding is 3,403
Contact Pål Kildemo
Cellular +47 97096711
Contact Halvor Molland
Cellular +47 92979797
Certain statements included within this announcement contain forward-looking information, including, without limitation, those relating to (a) forecasts, projections and estimates, (b) statements of management's plans, objectives and strategies for Hydro, such as planned expansions, investments or other projects, (c) targeted production volumes and costs, capacities or rates, start up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro's markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, as well as (i) statements preceded by "expected", "scheduled", "targeted", "planned", "proposed", "intended" or similar statements.
Although we believe that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty. Various factors could cause our actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized. Factors that could cause these differences include, but are not limited to: our continued ability to reposition and restructure our upstream and downstream aluminium business; changes in availability and cost of energy and raw materials; global supply and demand for aluminium and aluminium products; world economic growth, including rates of inflation and industrial production; changes in the relative value of currencies and the value of commodity contracts; trends in Hydro's key markets and competition; and legislative, regulatory and political factors.
No assurance can be given that such expectations will prove to have been correct. Hydro disclaims any obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.