World News: 21:28 GMT Wednesday 12th June 2019. [Data Respons ASA via Globe Newswire via SPi World News]
The Board of Directors of Data Respons ASA has today approved a capital increase of 252 989 shares in connection with the company's yearly employee share saving scheme.
The company has established a share savings programme for employees in order to create dedication for value creation and ensure convergence of the financial interests of the employees and the shareholders.
Employees can subscribe to shares at a 25 % discount of market value on the time of share subscription. Maximum subscription amount, after discount, is NOK 40 000. The shares are subject to a lock-up period of two years, and given that the employee is still employed in Data Respons, he or she will receive one bonus share for every fifth share purchased at the end of the lock-up period. Employees are offered the option to finance the purchase through monthly payroll deductions for the remaining months of 2019. In addition to the programme for all employees described above, Data Respons has a share savings programme for the senior management in the company. This programme offer senior management personnel to subscribe additional shares at the same terms as the programme offered to all employees, however with no financing offered.
The subscription price is NOK 20.69 per share, equal to the weighted average traded price of the Data Respons share on the Oslo Stock Exchange of the ten trading days before the start of the subscription period the 22nd of May 2019 of NOK 27.59 , less a discount of 25%. On the basis of an authorization granted by the Annual General Meeting held on 12 April 2019, the Board of Directors has in this regard resolved to increase the share capital by NOK 126 494.50 from NOK 36 190 334.50 to NOK 36 316 829.00 through the issue of 252 989 new shares with a nominal value of NOK 0.50 per share. The total number of outstanding shares will increase from 72 380 669 to 72 633 658 shares after the issue.
Rune Wahl, CFO, Data Respons ASA, tel. + 47 950 36 046 Data Respons is a full-service, independent technology company and a leading player in the IoT, Industrial digitalisation and the embedded solutions market. We provide R&D services and smarter solutions to OEM companies, system integrators and vertical product suppliers in a range of market segments such as Transport & Automotive, Industrial Automation, Telecom & Media, Space, Defence & Security, Medtech, Energy & Maritime, and Finance & Public Sector. Data Respons ASA is listed on the Oslo Stock Exchange (Ticker: DAT), and is part of the information technology index. The company has offices in Norway, Sweden, Denmark, Germany and Taiwan. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Globe Newswire: 21:28 GMT Wednesday 12th June 2019
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