Mowi staff buy discounted shares

EMPLOYEES of Mowi have been offered the chance to buy shares in the company at a discounted price. The deal applies to Norwegian, Scottish and Canadian permanent staff.

The offer is based on the average purchasing price for the company\’s shares on December 10 of NOK 230.0521 per share.

The Norwegian Tax Act provides Norwegian employees with a right to purchase shares with a discount of up to NOK 3,000 in such an offer.

Based on the above, eligible employees in Norway have been given three alternative offers:

• Purchase 33 shares at a value of approximately NOK 7,500, with a tax free discount of NOK 1,500 and a purchase price around NOK 6,000;
• Purchase 66 shares at a value of approximately NOK 15,000, with a tax free discount of NOK 3,000 and a purchase price around NOK 12,000;
• Purchase 131 shares at a value of approximately NOK 30,000, with a tax free discount of NOK 3,000, a taxable discount of NOK 3,000 and a purchase price around NOK 24,000.

Eligible employees in Scotland and Canada were given the same offers, but without the tax free discount.

At the end of the acceptance period, the company had received acceptances of these offers from 887 employees for a total of 103,791 shares.

To comply with its obligation in relation to the acceptances received, Mowi purchased 103,791 shares in the market, on December 10, at an average price of NOK 230.0521.

In total, 103,791 shares will be sold to the employees participating in the share programme.

Among those who increased their shareholding are CEO Ivan Vindheim, who now holds 1,248 shares; CFO Kristian Ellingsen (who now has 588 shares); Per-Roar Gjerde, COO Farming (911 shares); Ola Brattvoll, COO Sales and Marketing (9,819 shares); Ben Hadfield, COO Fish Feed and Mowi Scotland managing director (7,458); and Øyvind Oaland, global director R&D (4,976). All the above purchased 131 shares each under the new offer.