Management program 2004-2006
Of 1,890,000 vested options at a strike price of
NOK 33.10, 957,050 are today redeemed.
Employee program 2004-2009
Of 550,000 vested options at a strike price of
NOK 40.10, 106,416 are today redeemed.
There has not been any share issues or shares
sold from treasury stock held by the company, as
the employees and managers will be compensated in
cash for the gain, NOK 10,421,481 in total. The
gain per option equals the difference between
today`s closing price of NOK 43.60 and the strike
prices of NOK 33.10 and 40.10 respectively.
The redemptions under the management program 2004-
2006, includes the following primary insiders
(the numbers below refer to number of options
redeemed, shareholding, and number of options
kept after the redemption)
Trond Johannessen (50.000, 2.000, 50.000)
Svanaug Bergland (32.500, 0, 50.000)
Håkon Volldal (25.000, 0, 25.000)
Espen Gundersen (60.000, 0, 100.000)
Heiner Bevers (30.000, 2.000, 65.000)
Håkan Erngren (27.000, 0, 30.000)
Fredrik Witte (20.000, 1.100, 70.000)
The redemption will not have any P&L-impact, as
the Group accounts for the option programs in
accordance with IFRS 2, where the calculated
market value for the options is expensed over the
For further information, please contact:
President and CEO Amund Skarholt +47 97 55 94 25.
Asker, 28 October 2005
Tomra Systems ASA