Aqua Bio Technology ASA ("the Company") has appointed Espen Kvale as new Chief Operating Officer ("COO"). He comes from the position as Global Brand Director Dermatology at Photocure ASA. Kvale has a PhD in immunology from the University of Oslo and a broad experience from the biomedical industry, including positions with Nycomed Pharma, Pronova Biocare, Immunocorp, and NutraQ.
In connection with the appointment, the Board of Directors of the Company has, as authorized by the Annual General Meeting on 14th June 2012, awarded 100,000 options to Kvale.
Each option gives the right to subscribe for one share in Aqua Bio Technology ASA and is earned from and including 1 March 2014 until and including 1 March 2017 with 1/4 each year. The strike price is the average closing price on the Oslo Stock Exchange in the Company during the ten preceding trading days from today. The options are awarded without consideration, as part of the COO's salary and incentive agreement.
Espen Kvale has after the award a total of 100,000 options and 0 shares in the Company. The Company owns no own shares.
For further information, please call Arvid Lindberg, CEO, telephone +47 9824 5410
Aqua Bio Technology ASA (ABT) develops, produces and markets patented ingredients and technologies to the international cosmetic and skin care industry. ABT's ingredients Aquabeautine XL, Dermaclarine and Beauty Propelline are marine solutions derived from the hatching fluid of salmon, while Oceanx Oil in Serum is based on extract from seaweed. ABT is listed on the Oslo Stock Exchange's Axess market.
