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Marine Harvest Employees To Purchase Shares

by 5m Editor
22 December 2009, at 12:00am

NORWAY - The Board of Directors of Marine Harvest ASA resolved, in their meeting in November, to offer all permanent employees in the Company and its Norwegian subsidiaries the opportunity to purchase shares in the Company within the scope of the Norwegian Tax Act 5-14.

The offer to the employees is based on the price for the Company's shares on 26 November 2009, NOK 4.27 per share.

The relevant rules in the Tax Act provide the employees with a right to purchase shares with a rebate of up to NOK 1,500 in such offer. Based on the above, the permanent employees have been offered to purchase 1,756 shares in the Company at a value of approx. NOK 7,500 against a purchase price of approx. NOK 6,000.

At the end of the acceptance period on 21 December this year, the Company had received acceptances of this offer for a total of 505,728 shares. In order to comply with its obligations under the acceptances received, the Company has, on 21 December 2009, purchased 505,728 shares in the market at an average price of NOK 4.3194. These shares will be sold to the employees having accepted to participate in the share programme on the terms referred to above.

Six primary insiders in the Company have chosen to participate in the share purchase programme for employees. These participants have on aggregate subscribed to purchase 10,536 shares.

Primary insider Åse Aulie Michelet (CEO) has purchased 1,756 shares. After the purchase, Mr Michelet holds 139,756 shares and 4,500,000 synthetic options in the Company.

Primary insider Jørgen K Andersen (CFO) has purchased 1,756 shares. After the purchase, Mr Andersen holds 51,756 shares and 1,350,000 synthetic options in the Company.

Primary insider David Carnes (Director Corporate Development) has purchased 1,756 shares. After the purchase, Mr Carnes holds 251,756 shares and 375,000 synthetic options in the Company.

Primary insider Pedro S Leite (VP Director of Tax) has purchased 1,756 shares. After the transaction, Mr Leite hold 375,000 synthetic options and through the PSL Holding AS (a company 100 per cent owned by Leite) holds 1,756 shares in the Company.

Primary insider Lise M Holen (VP Controlling and Accounting) has purchased 1,756 shares. After the transaction, Ms Holen holds 1,756 shares and 500,000 synthetic options in the Company.

Primary insider Hedvig Lima (Senior Accounting Manager) has purchased 1756 shares. After the transaction, Mr Lima holds 11,756 shares in the Company.

5m Editor