Norsk Hydro
oslo : NHY

April 25, 2013 02:12 ET

Norsk Hydro: Sale of shares to employees

OSLO, NORWAY--(Marketwired - Apr 25, 2013) - Norsk Hydro ASA`s employees have purchased shares under a general arrangement offered to the employees of Norsk Hydro ASA each year.

All employees in Norway have been offered to purchase shares valued at NOK 10,000 with a 25 percent discount. 77 percent of the employees entitled to the offer have subscribed, and have each been allocated 367 shares at NOK 20.39 per share. The total number of shares allocated and transferred on April 25, 2013 is 1,085,219.

Norsk Hydro ASA holds 30,209,243 own shares after this transaction and the number of outstanding shares is 2,038,789,033.

The following primary insiders have under the above mentioned scheme each purchased 367 shares (see also stock exchange announcement as of April 2, 2013):

- President and CEO Svein Richard Brandtzæg, new holding is 123 618

- Executive Vice President and CFO Eivind Kallevik, new holding is 3 454

- Executive Vice President Wenche Agerup, new holding is 42 387

- Executive Vice President Arvid Moss, new holding is 98 949

- Executive Vice President Hilde Merete Aasheim, new holding is 37 065

- Executive Vice President Johnny Undeli, new holding is 38 605

- Employee representative to the Board of Directors Billy Fredagsvik, new holding is 2 826

- Employee representative to the Board of Directors Ove Ellefsen, new holding is 3 211

- Employee representative to the Board of Directors Sten Roar Martinsen, new holding is 3 882

- Company Secretary Anne-Lene Midseim, new holding is 3 067

Certain statements included within this announcement contain forward-looking information, including, without limitation, those relating to (a) forecasts, projections and estimates, (b) statements of management's plans, objectives and strategies for Hydro, such as planned expansions, investments or other projects, (c) targeted production volumes and costs, capacities or rates, start up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro's markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, as well as (i) statements preceded by "expected", "scheduled", "targeted", "planned", "proposed", "intended" or similar statements.

Although we believe that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty. Various factors could cause our actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized. Factors that could cause these differences include, but are not limited to: our continued ability to reposition and restructure our upstream and downstream aluminium business; changes in availability and cost of energy and raw materials; global supply and demand for aluminium and aluminium products; world economic growth, including rates of inflation and industrial production; changes in the relative value of currencies and the value of commodity contracts; trends in Hydro's key markets and competition; and legislative, regulatory and political factors.

No assurance can be given that such expectations will prove to have been correct. Hydro disclaims any obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Norsk Hydro via Thomson Reuters ONE


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