Cermaq ASA : Exercise of stock option program

In May 2006, an option scheme was established for the management of the Cermaq Group. A total of 216,654 options are outstanding. Since 2008 no new option agreements has been entered into, no options have been granted, nor will it be done in the future.

On May 31 2013, 31,668 options have been exercised by the following primary insiders:

Name, number of options
Geir Sjaastad, 11,666
Geir Molvik, 8,334
Einar Wathne, 8,334
Andres Tagle, 3,334

The options held were settled in cash based on the difference between the average stock price on May 31 of NOK 109,09 per share and the exercise price of NOK 71,92 per share.

There is no change in the primary insiders' shareholding in Cermaq ASA as a result of this transaction. The second tranche in the option program expired 31 May without being exercised. As of 31 May there are 3,334 options outstanding.

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

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Source: Cermaq ASA via Thomson Reuters ONE

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