Business
Long-term incentive program rewards the Oslo Stock Exchange: BWO
New Long Term Incentive Program Awards
With reference to the stock market press release of April 8, 2019.
The Board of Directors of BW Offshore Limited ("BWO" or the "Company") approved the allocation of stock options under the long-term incentive program (LTIP ) adopted on 14e March 2019, to align the interests of participating employees with those of the Company's shareholders. This is the second annual prize under the RILT. The RILT is discretionary and participants are invited on an annual basis.
The total number of options granted under LTIP for 2020 is 1,832,250, each option giving the holder the right to acquire one BW Offshore share. A total of 59 BW Offshore employees were invited to participate in the program.
The exercise price of options is calculated on the basis of the volume-weighted average price five trading days before the grant date, increased by a premium of 15.76% (corresponding to an annual increase of 5% over 3 years). The exercise price of the options granted on March 6, 2020 is NOK 41.88.
The options will have a three-year vesting period, followed by a three-year exercise period. Exercise windows will be defined by the Company. The options will expire 6 years after the grant date.
The Company's exposure relating to the 2020 allotment will be covered by a total return swap agreement (TRS) with financial exposure to 1,832,250 BWO shares.
Options are non-negotiable and are conditional on the option holder being employed by the Company and not resigning or being dismissed for just cause before the date of the option. 39; acquisition.
The following key insiders of the Corporation have obtained options under the LTIP for 2020:
1. Managing Director, Marco Beenen
Options granted: 306,250
Total number of options: 656,250
Shares held: 41,455
2. Commercial Director, Rune degaard Bjorbekk
Options granted: 100,625
Total number of options: 215,625
Shares held: 153,145
3. CFO, Stle Hkon Andreassen
Options granted: 100,625
Total number of options: 137,625
Shares held: 229,273
4. Director of operations, Kei Ikeda
Options granted: 100,625
Total number of options: 215,625
Shares held: 11,901
5. General Counsel, Magda Iqbal Karim Vakil
Options granted: 100,625
Total number of options: 137,625
Shares held: 14,834 (including the property of a close associate)
6. Head of Corporate Finance, Anders Stoud Platou
Options granted: 32,375
Total number of options: 69,375
Shares held: 0
7. Senior Legal Counsel, Yip Ming Yen
Options granted: 21,875
Total number of options: 40,875
Shares held: 0
8. IR & Communications Manager, Una Skram Holmen
Options granted: 16,625
Total number of options: 35,625
Shares held: 4,507 (including the property of a close associate)
For further information, please contact:
Stle Andreassen, CFO, +65 97 27 86 47
Anders S. Platou, Corporate Finance Manager, +47 99 50 47 40
[email protected] or www.bwoffshore.com
Sure BW Offshore:
BW Offshore is a leading provider of floating production services for the oil and gas industry. The company is also involved in the development of proven offshore oil tanks. BW Offshore is represented in all the main oil and gas regions of the world with a fleet of 15 FPSOs held. The company has over 30 years of production experience, having executed 40 FPSO and FSO projects. BW Offshore is listed on the Oslo Stock Exchange.
This information is subject to disclosure requirements in accordance with section 5-12 of the Norwegian Securities Trading Act
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
picture credit
to request, modification Contact us at Here or [email protected]
 |
 |
 |
