Veidekke ASA: to increase share capital and issue new shares to employees

Veidekke ASA: to increase share capital and issue new shares to employees

13.11.2019 - 18:01

On the basis of an authorization resolved by the Annual General Meeting on 8 May 2019 to increase the share capital, the Board of Directors has resolved a share issue directed towards the employees in the Veidekke Group. In the share issue it may be issued up to 1,5 million new shares.

The 2019 employee share purchase program allows participants to acquire between 50 and 1 500 shares. The shares are subject to a two-year lock-up period.

The subscription period starts on 15 November 2019 and expires on 22 November 2019. The subscription price will be equal to the volume-weighted average share price on the Oslo Stock Exchange in the subscription period, with a deduction for a discount of 20%. The total discount may not exceed NOK 30 million. In the case of oversubscription or if the total discount for the shares subscribed for exceeds NOK 30 million, the number of shares allocated to each subscriber will be reduced. Allocation of shares are expected to take place on or about 25 November 2019, while the new shares are expected to be issued on or about 20 December 2019.

For more information, please contact :

Finance Director Jørgen G. Michelet, tel. +47 917 43 856, jorgen.michelet@veidekke.no

For press images, see www.flickr.com/photos/veidekke

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This information is subject to a disclosure duty pursuant to section 5-12 of the Securities Trading Act.

Veidekke is one of Scandinavia's largest construction and property development companies. The company undertakes all types of building construction and civil engineering contracts, develops residential projects, maintains roads, and produces asphalt and aggregates. The company is known for its involvement and local knowledge. Its annual turnover is approximately NOK 36 billion, and half of its 8,600 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has always posted a profit since it was founded in 1936.