As previously announced, the company will issue 2,555,000 shares at average NOK 15 per share to options holders who exercised 2,555,000 options in exchange for shares. These option holders have been granted 1,937,500 options in the new option program.
Net cash effect to the company associated with the 2003 Option Program is NOK 24.5 mill including employers' tax estimated at NOK 17.9 mill.
In total, 3,406,303 new shares will be issued as a result of the exercise of the 7,670,000 options under the 2003 Option Program, increasing the number of shares in Ocean Rig ASA from 83,506,423 to 86,912,726 shares, pending registration in the Share Registry. In addition, 5,297,500 options have been granted with a strike price at NOK 28.5650 and expiring January 4, 2006.
Most Popular Articles