Johan Andreassen, Chairman and primary insider, has today been granted a total of one (1) million share options (the “Share Options”) by the annual general meeting of Atlantic Sapphire ASA (the “Company”). The Share Options have been granted as part of his compensation package, following a recommendation from the Company’s Compensation Committee. The grant of Share Options is structured as set out below:
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(1) 200,000 share options with a strike price of NOK 160 are granted with effect from the annual general meeting in 2021;
(2) 200,000 share options with a strike price NOK 200 are granted with effect from 1 May 2022;
(3) 200,000 share options with a strike price NOK 250 are granted with effect from 1 May 2023;
(4) 200,000 share options with a strike price NOK 312 are granted with effect from 1 May 2024; and
(5) 200,000 share options with a strike price NOK 400 are granted with effect from 1 May 2025.
Each share option gives the right to receive one (1) share in the Company against payment of the abovementioned strike price, for a total amount equivalent to each share option tranche.
Each tranche of Share Options shall vest over a period of four (4) years, with 25% of the Share Options in each tranche vesting annually. Each tranche of Share Options shall have a duration of 10 years following the grant date (term), which implies that the Share Options shall expire automatically if they have not been exercised within such term
Please refer to the attached notification form for further details on the 200,000 Share Options granted with effect from the annual general meeting held today.
Following the grant, Johan E. Andreassen holds 9,759,540 shares in the Company through Alsco AS (a company jointly owned by Johan E. Andreassen and Bjørn-Vegard Løvik), corresponding to 12.1% of the outstanding shares. In addition, Johan E. Andreassen personally holds 1,073,770 shares in the Company, corresponding to 1.3% of the outstanding shares, and 311,188 share options.
For further information, please contact:
Johan E. Andreassen
Chairman, Atlantic Sapphire ASA;
Karl Øystein Øyehaug
Chief Financing Officer & Managing Director, Atlantic Sapphire ASA
investorrelations@atlanticsapphire.com
This information is such that Atlantic Sapphire ASA is required to disclose in accordance with the EU Market Abuse Regulation.
About Atlantic Sapphire ASA
Atlantic Sapphire is pioneering Bluehouse® (land-raised) salmon farming, locally, and transforming protein production, globally. Atlantic Sapphire has been operating its innovation center in Denmark since 2011 with a strong focus on R&D and innovation to equip the company with technology and procedures that enable the company to commercially scale up production in end markets close to the consumer.
In the US, the Company has since 2010 worked to identify and permit the ideal location for Bluehouse® farming in Miami, Florida. The Company is close to completion of its phase 1 build out which is projected to harvest approximately 10,000 tons of salmon annually and performed its first commercial harvest in the US in September 2020. The Company has secured the key US water permits to produce up to 90,000 tons onsite, and has a targeted harvest volume in 2031 of 220,000 tons.
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