Oslo, 16 May 2013 - DNO International ASA ("DNO") has established an Employee Share Saving Scheme (the "Scheme"). The Scheme is a savings plan pursuant to which DNO employees can set aside up to five percent of their gross annual salary for conversion into synthetic shares that track the DNO share price on the Oslo Stock Exchange.
The conversion of the saved amount into synthetic shares takes place at certain regular intervals, normally subsequent to DNO announcing its quarterly interim results. The conversion price is equal to the closing price of the DNO share discounted for a two-year mandatory restriction period.
On 15 May 2013, the following primary insiders have been allocated synthetic shares through the Scheme at a price of 7.5160 per synthetic share based on the closing price on 14 May 2013:
|Name||Position||Synthetic shares purchased||Total holding of synthetic shares||Total holding of regular shares|
|Anita Aarnæs||Director Human Resource||1,209||1,209||-|
|Bjørn Dale||Acting General Manager and General Counsel||2,404||2, 404||-|
|David Grassick||Country Manager Oman||3,248||3,248||-|
|Colin Kramer||Country Manager Yemen||2,600||2,600||338,888|
|Trond Myrseth||Vice President Operations||2,767||2,767||-|
|Michel Pick||Country Manager Tunisia||2,880||2,880||-|
|Haakon Sandborg||Chief Financial Officer||1,330||1,330||-|
|Per Øyvind Stene||Controller||1,149||1,149||1,000|
Oslo, 16 May 2013
DNO International ASA
This information is subject to disclosure pursuant to section 5-12 of the Norwegian Securities Trading Act.