Kongsberg Gruppen : initiating a share buy-back program for employees*

KONGSBERG initiating a share buy-back program for employees*

KONGSBERG has since 1996 executed a share program for all employees, where shares in KONGSBERG is offered at a spot rate minus 20% discount. The Board of Directors of KONGSBERG has resolved to reiterate this program in 2020. For 2020 the company has issued DNB Markets a mandate to purchase own shares for a total value* of up to MNOK 160. The purchase period and the mandate are valid as from 14th February 2020 and until the earlier of the annual general meeting in 2020 and June 15th 2020. DNB Markets will make its trading decisions in relation to the company's shares independently of, and without influence by, the company with regard to the timing of the purchases. The Company has been granted an approval from the annual general meeting of 14th May 2019 to acquire shares to a price between NOK 25 and 300 per share and up to a total nominal value of MNOK 9.749, for the purpose of the share program for employees and long-term incentive (LTI) program for executive managers. A buy-back of a total value* of up to MNOK 160 is estimated for this purpose. The share buy-back program will be conducted in accordance with the applicable regulations of the Oslo Stock Exchange and the Norwegian Securities Trading Act. For further information, KONGSBERG refers to the minutes from KONGSBERG's annual general meeting of 14th May 2019, available at www.kongsberg.com and www.newsweb.no. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.