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Acquisition of shares in Ocean Yield

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Dry Bulk,


As part of the incentive programme of Ocean Yield, a ship owning company, a number of primary insiders have committed to acquire shares in the company.

These are:

  • Lars Solbakken, CEO, has through his wholly owned company Finmarine AS, committed to acquire 30 000 shares in Ocean Yield. Upon completion of such acquisition, Lars Solbakken will own 1 430 880 shares in the company (all shares are owned indirectly through the wholly owned company Finmarine AS).
  • Eirik Eide, CFO, has through his wholly owned company Kleiver Invest AS committed to acquire 20 000 shares in Ocean Yield. Upon completion of such acquisition, Eirik Eide will own, directly or indirectly, 335 051 shares in the company.
  • Andreas Røde, Head of Business Development & M&A., has through his wholly owned company Vulpes Holding AS committed to acquire 10 000 shares in Ocean Yield. Upon completion of such acquisition, Andreas Røde will own, directly or indirectly, 20 000 shares in the company.
  • Andreas Reklev, SVP Investments, has through his wholly owned company Reklev Invest AS committed to acquire 5000 shares in Ocean Yield. Upon completion of such acquisition, Andreas Reklev will own, directly or indirectly, 10 000 shares in the company.
  • Marius Magelie, SVP Finance & IR, has through his wholly owned company MGM Invest AS committed to acquire 6000 shares in Ocean Yield. Upon completion of such acquisition, Marius Magelie will own, directly or indirectly, 106 120 shares in the company.

The acquisition price equals the closing share price of the Ocean Yield share on 19 September 2018, less a discount of 20%, reflecting that the shares have a lock-up period of three years. The share price as of close 19 September 2018 was NOK 63.10.

The company intends to deliver the shares in the form of treasury shares held by or acquired by the company, and will in order to have shares available for the incentive programme buy back a total of up to 50 000 shares in the company through open market purchases, adding to the company's current holding of 37 117 treasury shares.

Read the article online at: https://www.drybulkmagazine.com/shipping/21092018/acquisition-of-shares-in-ocean-yield/

 

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