ABG Sundal Collier — Director's Dealing 2019

Mar 11, 2019

11 March 2019

Share transactions

Shares sold to partners

On 8 March 2019 ABG Sundal Collier Holding ASA ("ABGSC") sold a total of 42,980,500 ASC shares to new and existing partners in a combination of an extended share incentive program for partners, a share sale to specially identified staff who according to local regulations have to purchase shares as part of their variable compensation, and shares offered in connection with the agreements with Knut Brundtland and Jonas Ström as stated in the stock exchange notice on 3 September 2018. The shares were sold at a price of NOK 3.57 per share, reflecting the restrictions imposed on such shares.

Of the 42,980,500 shares sold, 40,995,000 shares were sold on forward contracts with a forward price of NOK 4.01 per share and settlement on 1 June 2024.

The Board has this year decided to extend the partner share program in order to accommodate an interest from several key partners to significantly increase their financial investment in the firm and establish an incentive which also is aligned with the broader performance of the group. The Board appreciates this long-term commitment to the firm and views this as a statement of belief in the ABG Sundal Collier franchise.

Settlement of forward contracts

With reference to our press releases of 4 October 2016 and 10 March 2017, two partners purchased on 8 March 2019 538,700 ASC-shares from ABGSC as settlement of forward contracts that were previously entered into. The shares were sold at an average price of NOK 3.3644 per share. The previously agreed prices of NOK 4.56 and NOK 5.17 have been adjusted for dividends, interest adjustments and earlier settlement of the forward contracts.

Insider transactions

The following partners who hold executive positions in the firm ("insiders") participated in the transactions:

Current Group CEO and to be nominated Chairman, Knut Brundtland purchased through the family owned company Giotto AS 5,000,000 shares on a forward contract with settlement 1 June 2024 at a forward price of NOK 4.01 per share. Brundtland, incl. the family owned companies Giotto AS and Piero AS, owns 5,083,000 shares plus 5,000,000 shares on the forward contract following the transaction.

Jonas Ström, who will assume the position as CEO of the firm from 30 April 2019, purchased 2,000,000 shares on a forward contract with settlement 1 June 2024 at a forward price of NOK 4.01 per share. Ström owns 263,000 shares plus 3,962,000 shares on forward contracts following the transaction.

Group CFO, Geir B. Olsen, incl. a 100% owned company, purchased 500,000 shares on forward contracts with settlement 1 June 2024 at a forward price of NOK 4.01 per share. Olsen, incl. a 100% owned company, owns 900,000 shares plus 600,000 shares on forward contracts following the transaction.

Head of Investment Banking, Are Andersen purchased through a 100% owned company 2,000,000 shares on a forward contract with settlement 1 June 2024 at a forward price of NOK 4.01 per share. Andersen, incl. 100% owned companies, owns 3,190,184 shares plus 2,000,000 shares on the forward contract following the transaction.

Head of Investment Banking Sweden, Johan Lindén purchased 3,250,000 shares on a forward contract with settlement 1 June 2024 at a forward price of NOK 4.01 per share. Lindén owns 150,000 shares plus 3,975,000 shares on forward contracts following the transaction.

Head of Debt Capital Markets, Tarjei Unneland, incl. a 100% owned company, purchased 2,000,000 shares on a forward contract with settlement 1 June 2024 on a forward price of NOK 4.01 per share. In addition Unneland purchased 5,200 shares at a price of NOK 3,57 per share. In addition Unneland purchased 500,000 shares as settlement of a forward contract that was previously entered into at a price of NOK 3.34 per share. The previously agreed price of NOK 4.56 per share has been adjusted for dividends and earlier settlement of the forward contract. Unneland, incl. the 100% owned company, owns 1,000,000 shares plus 2,700,000 shares on forward contracts following the transactions.

Head of Markets Norway, Hans Øyvind Haukeli purchased 2,000,000 shares on a forward contract with settlement 1 June 2024 at a forward price of NOK 4.01 per share. In addition Haukeli purchased 623,200 shares at a price of NOK 3.57 per share. Haukeli owns 3,123,200 shares plus 2,350,000 shares on forward contracts following the transactions.

Head of Markets Sweden and International, Per Flostrand purchased through a 100% owned company 2,000,000 shares on a forward contract with settlement 1 June 2024 at a forward price of NOK 4.01 per share. Flostrand, incl. the 100% owned company, owns 865,000 shares plus 2,800,000 shares on forward contracts following the transaction.

Joint Head of Research, John Olaisen purchased through a 100% owned company 2,000,000 shares on a forward contract with settlement 1 June 2024 at a forward price of NOK 4.01 per share. Olaisen, incl. the 100% owned company, owns 1,130,000 shares plus 2,750,000 shares on forward contracts following the transaction.

Joint Head of Research, Christer Linde purchased 250,000 shares on a forward contract with settlement 1 June 2024 at a forward price of NOK 4.01 per share. Linde owns 150,000 shares plus 900,000 shares on forward contracts following the transaction.

Head of Compliance, Roar Hatling purchased 100,000 shares on a forward contract with settlement 1 June 2024 at a forward price of NOK 4.01 per share. Hatling, incl. a 100% owned company, owns 312,100 shares plus 100,000 shares on the forward contract following the transaction.

Compliance Officer Rune Ruud purchased 42,000 shares at a price of NOK 3.57 per share. Ruud owns 207,330 shares following the transaction.

Compliance Officer Anette Terkelsen purchased 42,000 shares at a price of NOK 3.57 per share. Terkelsen owns 68,700 shares plus 50,000 shares on a forward contract following the transaction.

Treasury shares

ABGSC owns 10,948,039 treasury shares following the transactions above. ABGSC has forward contracts with partners purchasing a total of 79,720,300 with settlement in 2019 – 2024. ABGSC has authorization to re-purchase its shares in the market or to issue new shares.

Contacts:
Knut Brundtland, CEO	+47 22 01 60 07
Geir B. Olsen, CFO	+47 22 01 60 35