REACH – STOCK OPTION SCHEME- MANADATORY NOTIFICATION
OF TRADE
Reach Subsea ASA (“Reach Subsea” or the “Company”)
announces that its board of directors has approved a
stock option scheme to align the interests of the
participating employees in Reach Subsea with those of
the shareholders.
Management and Employees of the Reach Group has been
granted the right to acquire up to a certain maximum
number of shares in the Company at a fixed strike
price (“the Option”). The strike price is equal the
subscription price in the private placement conducted
by the Company in May 2013 (i.e. NOK 3.20). The
options can be exercised over a period of three
years.
The options are non-tradable and conditional upon the
participant being employed by the Reach group at the
vesting date. The stock option plan is expected to
constitute 2.191.404 options equivalent to
2.191.404 Reach shares.
Further information can be found in the full press release issued at www.newsweb.no .