Based on the power of attorney granted at the annual general meeting of EMGS on 22 June 2011, the Board of Directors of EMGS has in board proceedings on 20 December 2011 approved a share issue of 845,000 shares, each with a face value of NOK 0.25 at the option price of NOK 4.28 per share for 151,000 of the new shares, NOK 5.50 for 50,000 of the new shares, NOK 5.77 for 604,000 of the new shares and NOK 10.95 for 40,000 of the new shares. As a result, the share capital will be increased by NOK 211,250 from NOK 49,149,140.50 to NOK 49,360,390.50. The number of shares after the issue is 197,441,562.
The share issue is completed through exercising of stock options in connection with EMGS's stock option program.
The following primary insiders in EMGS have subscribed for shares in connection with the above mentioned share issue:
Svein Knudsen has on 20 December 2011 exercised 150,000 options at NOK 5.77 per share and 40,000 shares at NOK 10.95 per share. After the transaction, Svein Knudsen holds 207,694 shares and 195,000 options in EMGS.
Dag Reynolds has on 20 December 2011 exercised 50,000 options at NOK 5.50 per share and 60,000 shares at NOK 5.77 per share. After the transaction, Dag Reynolds holds 220,000 shares and 165,000 options in EMGS.
Contact
Svein Knudsen, EMGS chief financial officer, +47 22 01 14 00
Svein Knudsen, EMGS chief financial officer, +47 22 01 14 00
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.