Pursuant to the terms of the Long-term Incentive Programme for the Executive Management implemented by the Board of Directors, based on approval from the annual general meeting in 2016, the Executive Management may receive a cash amount, where the net amount less tax shall be used to purchase A-shares in Odfjell SE (the 'Company'). On 15 March 2017, the Board of Directors decided, in accordance with the terms of such incentive programme, to pay out a cash amount to members of the Executive Management, which in turn (after tax) has been used to acquire a total of 72,073 Class A shares in the Company on 16 March 2017. The purchase price paid for the shares is NOK 30.36, corresponding to the volume weighted average share price on the Oslo Stock Exchange the last 14 trading days prior to 16 March 2017.
To facilitate the abovementioned acquisition of shares by the Executive Management, the Company has on 16 March 2017 sold 72,073 Class A shares (treasury shares) to the members of the Executive Management at a purchase price of NOK 30.36 per share. The acquired shares are restricted with a holding period of three years with certain customary exemptions.
The following primary insiders in the Company has acquired shares in connection with the abovementioned incentive plan, and have, following this, the following number of shares in the Company:
Name and title
Shares acquired
Total number of shares
held in the Company
Kristian V. Mørch, CEO
52,913
86,913 Class A shares/3,500 Class B shares
Terje Iversen, SVP/CFO
6,939
11,939 Class A shares
Harald Fotland, SVP Odfjell Tankers
7,807
7,807 Class A shares/4,000 Class B shares
Øistein Jensen, SVP/Chief of Staff
4,414
10,414 Class A shares
Following the sale of 72,073 Class A shares, the Company holds 5,819,093 Class A and 2,322,482 Class B shares (treasury shares) in the Company.
Odfjell SE published this content on 16 March 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 17 March 2017 05:08:28 UTC.
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Odfjell SE is a Norway-based company engaged in the marine industry. The Company is engaged in the provision of seaborne transportation and storage of chemicals and other specialty bulk liquids. The Company has two reportable operating segments: Chemical Tankers and Tank Terminals. The Chemical Tankers involve around the world' service, servicing ports in Europe, North and South America, the Middle East and Asia, Australia and Africa. The Tank Terminals segment offers storage of various chemical and petroleum products and is operated through joint ventures with its share owned by the subsidiary Odfjell Terminals BV. In addition, this segment plays an important operational role in cargo consolidation program so as to reduce the time its vessels spend in ports, reduce thereby emission in port, and enable the Company to be one of the world leaders in combined shipping and storage services.
ODFJELL SE 
