BankNordik P/F
Introduction of a share-based remuneration-programme
BankNordik P/F 01.09.2014 15:34 Dissemination of a Adhoc News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- I accordance with the Bank's remuneration policy, approved by the general meeting, the Board of Directors of BankNordik has decided to introduce a share-based remuneration programme for the Executive Board - Mr. Janus Petersen, CEO and Mr. John Rajani, Deputy CEO. Due to the introduction of the above mentioned share-based remuneration programme, new employment contracts have been made between the company and the Executive Board, which implies that share options becomes part of their total remuneration. The Bank's total costs related to the remuneration of the Executive Board will not increase by the introduction of the above mentioned share-based remuneration programme. The allocation of share options is based on calculations made by the independent auditor Deloitte. The first allocation of share options will be effected on September 1st 2014 where the Executive Board will be granted a total of 46.619 share options at an exercise price of DKK 112,90 pr. share. The exercise price is calculated as the average price of a share in P/F BankNordik the recent 5 trading days prior to the allocation date. The share options can be exercised in trading windows in the period from 10th August 2018 to 10th December 2018. BankNordik has reserved own shares corresponding to the outstanding share options comprised by the above mentioned share-based remuneration programme Please direct any questions regarding this announcement to Klaus Rasmussen, Chairman of the Board of Directors, on tel. (+45) 61 33 72 43. Yours sincerely BankNordik Klaus Rasmussen, Chairman of the Board of Directors News Source: NASDAQ OMX 01.09.2014 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: BankNordik P/F Faeroe Islands Phone: Fax: E-mail: Internet: ISIN: FO0000000088 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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