In accordance with the resolution in the ordinary general meeting held 10th of June 2013, the Board of TTS Group ASA has been authorized to issue a maximum of 600,000 shares to leading employees in the TTS Group. The Board has decided to issue 170,000 purchase options in addition to the 360,000 options allocated in June 2013.
The exercise price for the options is the closing price on 10th June 2013 at 6.42 NOK per share after adjustment for 1.0 NOK in dividend payment approved at the ordinary general meeting 10th June 2013. The options have a duration period to 10th June 2015. The exercise price will be adjusted for possible future dividend payments.
The first possible exercise of the options is after the publication of the 1st quarter results in 2014, for a maximum of 50% of the options. Thereafter an additional 12.5% of the options may be exercised after publication of the results for the 2nd, 3rd and 4th quarters, respectively, in 2014, and for the 1st quarter 2015, in addition to options that have not been exercised earlier.
Distribution of the options:
| Name | Position | Options |
| Björn Andersson | President & CEO | 70,000 |
| Geir Storaas | EVP, Offshore & Heavy lift | 50,000 |
| Stefan Gleuel | EVP, Services | 50,000 |
| Total | 170,000 |
Distribution of options and shares after issue of options:
| Name | Position | Shares | Options |
| Björn Andersson | President & CEO | 70,000 | |
| Geir Storaas | EVP, Offshore & Heavy lift | 50,000 | |
| Stefan Gleuel | EVP, Services | 50,000 | |
| Ivar K. Hanson | EVP, Marine | 182,422 | 120,000 |
| Miao Reinlund | VP Communications | 120,000 | |
| Arild Apelthun | CFO | 120,000 | 120,000 |
| Nina Seter | VP HR & HSE | 60,000 |
Bergen, March 11th 2014
TTS Group ASA
Contact person:
Arild Apelthun
CFO
Mobile: +47 918 19 265