Norsk Hydro AS Norsk Hydro: Primary Insiders Purchase Shares Under Long Term Incentive Program And Shares To Employees

 
TIDMNHY 
 
 
   Norsk Hydro ASA has a share-based Long Term Incentive (LTI) in the form 
of a remuneration of 30 percent and 25 percent of annual base salary for 
the President and CEO and the other members of the Corporate Management 
Board respectively. The LTI payment requires that Hydro had a positive 
underlying EBIT in the previous year. The participants will be required 
to invest the net amount after tax in Hydro shares and such shares must 
be held for at least three years. 
 
   The terms of the LTI-plan are changing in 2017, to a potential of 30% 
remuneration for all members of the CMB and payments will hereafter be 
based partly on achieved return on capital employed, and partly on 
return on capital employed measured against a weighted average of return 
on capital employed from comparable companies. 
 
   The following primary insiders have on April 3rd 2017, acquired Hydro 
shares under the above-mentioned program at NOK 48.83 per share. 
 
 
 
 
Name                               Acquired shares  Holding after LTI purchase 
President and CEO Svein Richard 
 Brandtzæg                             20 351                     230 964 
Executive Vice President and CFO 
 Eivind Kallevik                             8 222                      50 024 
Executive Vice President Arvid 
 Moss                                        8 222                     146 692 
Executive Vice President Hilde 
 Merete Aasheim                              8 833                      81 776 
Executive Vice President Kjetil 
 Ebbesberg                                   8 715                      47 346 
Executive Vice President 
 Anne-Lene Midseim                           6 571                      20 710 
Executive Vice President Inger 
 Sethov                                      6 012                      18 673 
Executive Vice President Hanne 
 Karine Simensen                             6 571                      19 135 
 
 
   A total of 73 497 shares have been sold by Hydro to the participants in 
the Long Term Incentive program. Hydro holds 26 030 663 own shares after 
this transaction and the number of outstanding shares are 2 042 967 613. 
 
   In addition, all employees employed by Norsk Hydro in Norway have been 
offered to purchase shares valued at NOK 25 000, with a 50 percent 
discount, under a general arrangement offered each year. For employees 
taking part in this arrangement, the share price is NOK 24.41 per share, 
for 511 shares, which will be sold from Hydro's position of treasury 
shares by the start of May 2017. 
 
   The following primary insiders have under the scheme each agreed to 
purchase 511 shares: 
 
   - President and CEO Svein Richard Brandtzæg 
 
   - Executive Vice President and CFO Eivind Kallevik 
 
   - Executive Vice President Arvid Moss 
 
   - Executive Vice President Hilde Merete Aasheim 
 
   - Executive Vice President Kjetil Ebbesberg 
 
   - Executive Vice President Anne-Lene Midseim 
 
   - Executive Vice President Inger Sethov 
 
   - Executive Vice President Hanne Simensen 
 
   - Employee representative to the Board of Directors Billy Fredagsvik 
 
   - Employee representative to the Board of Directors Ove Ellefsen 
 
   - Employee representative to the Board of Directors Sten Roar Martinsen 
 
   - Company Secretary Ingeborg Margrethe Liahjell 
 
   Investor contact 
 
   Contact Stian Hasle 
 
   Cellular [phone] 
 
   E-mail [e-mail] 
 
   Press contact 
 
   Contact Halvor Molland 
 
   Cellular [phone] 
 
   E-mail [e-mail] 
 
   Cautionary note 
 
   Certain statements included in this announcement contain forward-looking 
information, including, without limitation, information relating to (a) 
forecasts, projections and estimates, (b) statements of Hydro management 
concerning plans, objectives and strategies, such as planned expansions, 
investments, divestments, curtailments or other projects, (c) targeted 
production volumes and costs, capacities or rates, start-up costs, cost 
reductions and profit objectives, (d) various expectations about future 
developments in Hydro's markets, particularly prices, supply and demand 
and competition, (e) results of operations, (f) margins, (g) growth 
rates, (h) risk management, and (i) qualified statements such as 
"expected", "scheduled", "targeted", "planned", "proposed", "intended" 
or similar. 
 
   Although we believe that the expectations reflected in such 
forward-looking statements are reasonable, these forward-looking 
statements are based on a number of assumptions and forecasts that, by 
their nature, involve risk and uncertainty. Various factors could cause 
our actual results to differ materially 
 
   from those projected in a forward-looking statement or affect the extent 
to which a particular projection is realized. Factors that could cause 
these differences include, but are not limited to: our continued ability 
to reposition and restructure our upstream and downstream businesses; 
changes in availability 
 
   and cost of energy and raw materials; global supply and demand for 
aluminium and aluminium products; world economic growth, including rates 
of inflation and industrial production; changes in the relative value of 
currencies and the value of commodity contracts; trends in Hydro's key 
markets and competition; and legislative, regulatory and political 
factors. 
 
   No assurance can be given that such expectations will prove to have been 
correct.  Hydro disclaims any obligation to update or revise any 
forward-looking statements, whether as a result of new information, 
future events or otherwise. 
 
   This information is subject to the disclosure requirements pursuant to 
section 5-12 of the Norwegian Securities Trading Act. 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Norsk Hydro via Globenewswire 
 
 
  http://www.hydro.com/en/?WT.mc_id=Pressrelease 
 

(END) Dow Jones Newswires

April 03, 2017 06:32 ET (10:32 GMT)

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