Kvaerner sells 1 430 429 shares to employees

27 November 2019

Today, Nordea Markets has on behalf of Kværner ASA sold 1 430 429 shares in relation with the company’s share purchase programme for employees.

Following the transaction, Kværner ASA holds a total of 1 093 77 own shares. The price was based on the average volume weighted share price on Oslo stock exchange over the five days period from 18 November to 22 November 2019 giving a price per share of NOK 12.46 More than 2 450 employees in Norway were invited to participate in Kvaerner’s fifth share purchase programme where they were offered to buy shares for up to NOK 60 000 each. The participants in the employee share purchase programme were offered a discount of up to NOK 3 000 in addition to a price reduction of 20 percent on the share price. The shares purchased by the employees through the programme are subject to a two year lock-up period from the date of delivery.

Attached is an overview of the primary insiders’ share purchases in connection with the programme.

ENDS

For further information, please contact:

Media inquiries:

Torbjørn Andersen, Head of IR & Communications, Kvaerner, Mob: +47 928 85 542, email: torbjorn.andersen@kvaerner.com

Investor inquiries:

Idar Eikrem, EVP & CFO, Kvaerner, Mob: +47 950 28 363, email: ir@kvaerner.com

About Kvaerner:

Kvaerner is a project execution specialist and a trusted advisor for our clients. We provide engineering, procurement and construction (EPC) services and deliver advanced offshore and onshore installations around the world. We have offices in seven countries and approximately 2 800 employees. Health, Safety, Security and Environment (HSSE) has the highest priority in our work, and we aim to deliver technology and solutions in a safe and sustainable way.

Our passion, experience and expertise realise values for clients and societies. Kværner ASA, through its subsidiaries and affiliates (“Kvaerner”), is an international contractor and preferred partner for operators and contractors within oil and gas, renewable energy and in the field of engineering and fabrication.

In 2018, Kvaerner’s Field Development segment had consolidated annual revenues of NOK 7.3 billion and the company reported an order backlog at 30 September 2019 of NOK 8.3 billion. Kvaerner is publicly listed with the ticker “KVAER” at the Oslo Stock Exchange. For further information, please visit www.kvaerner.com

To subscribe or unsubscribe to our press releases, please see our web page:

https://www.kvaerner.com/investors/news-and-stock-exchange-
announcements/subscribe-to-releases/

Related Articles

Correction – Mandatory notification of trade Primary Insiders – Kværner ASA

14 January 2020

Idar Eikrem, EVP & CFO in Kværner ASA purchased through a private company on Friday 20 December 2019, 40 000 shares in Kværner ASA at a price of NOK 10.75. Following the transaction, Idar Eikrem holds 181 329 shares in Kværner ASA, this including shareholding owned through a private company. In the release 20 December […]

Kværner ASA: Mandatory notification of trade primary insiders

20 December 2019

Mandatory notification of trade primary insiders 20 December 2019 – The following primary insider has purchased shares in Kværner ASA: Idar Eikrem, EVP & CFO in Kværner ASA through a private company has today Friday 20 December 2019 purchased 40 000 shares in Kværner ASA at a price of NOK 10,75. Following the transaction, Idar […]

Awarded NOK 16 million in research funding

19 December 2019

Kvaerner, together with SINTEF and local business partners at Stord, has been awarded NOK 16 million from the Research Council of Norway to strengthen competitiveness against emerging markets. The project is called COM-FLEX (Competitive Flexibility) and is a continuation of Simplex, a project with the same partners, which also was implemented with support from the […]