Hexagon Purus AS: Executive management buys maximum number of shares under management investment program
December 14, 2020 - Press Release
Reference is made to section 6.8 “Shareholdings and stock options” of the Information Document for Hexagon Purus AS (“the Company” or “Hexagon Purus”), published on Friday 11 December, and prepared in relation to the listing of Hexagon Purus on Euronext Growth Oslo.
Hexagon Purus’ management investment program with PSU matching aims to align the objectives of shareholders and key employees in order to increase the value of the company in the long term.
Key members of Hexagon Purus’ management team have exercised their right to purchase the maximum number of shares allowable in the management investment program. Each member will in 2024 be entitled to up to three new shares in the Company per share invested, at no consideration, provided that the member is still employed in the Company at such date. The entitlement depends on fulfilment of three criteria, one per matching share. One criterion is tied to increase in share price, one is tied to Company performance and one is tied to continued employment.
The following members of the executive management team have purchased shares under the management investment program:
|Name||Title||Number of shares acquired||Price per share (NOK)||Value of shares acquired (NOK)||Number of shares held after the transaction*|
|Morten Holum||CEO||73 260||27.3||1 999 998||74 471|
|Michael Kleschinski||EVP LDC||45 787||27.3||1 249 985||52 000|
|Todd Sloan||EVP Systems||45 787||27.3||1 249 985||45 787|
|Frank Häberli||SVP Asia||45 787||27.3||1 249 985||50 355|
*includes a preliminary estimate on the effect of a dividend distribution of shares in Hexagon Purus to shareholders of Hexagon Composites, but does not include the effect of any withholding tax affecting the number of shares distributed.
The shares are purchased from Hexagon Composites ASA and are under lock-up until the maturity date of the management investment program, which ordinarily occurs upon approval of the Company's financial statements for 2023.
For more information, please contact:
Morten Holum, CEO, Hexagon Purus
Telephone: +47 995 09 930 | firstname.lastname@example.org
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | email@example.com
About Hexagon Purus AS: Hexagon Purus, a Hexagon Composites company, is a world leading provider of hydrogen type 4 high-pressure cylinders, battery packs and vehicle systems integration for fuel cell electric and battery electric vehicles. Hexagon Purus enables zero emission solutions for light, medium and heavy-duty vehicles, buses, ground storage, distribution, marine, rail, aerospace and backup power solutions.
Learn more at www.hexagonpurus.com.