The Company has appointed Mr
In accordance with the terms of the option agreement, the share options will vest one third 10 months from the Date of Grant, one third 22 months after the Date of Grant, and one third 34 months after the Date of Grant, respectively. The share options will lapse 6, 6 and 16 months after their respective vesting dates.
The exercise price shall be
The Company may at its choice fulfill its obligations under the option agreement through issuance of new shares, by selling its treasury shares to the option holders or through a cash settlement.
The agreement is conditional upon the annual general meeting in 2014 granting a mandate to the board of directors to issue shares under share option agreements with the employees of the Company.
For more information, please contact:
Jens Ismar, Chief Executive Officer Tel: +47 9009 0897 E-mail: firstname.lastname@example.org HÅvard Furu, Chief Financial Officer Tel: +47 9912 3443 E-mail: email@example.com
This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe," "expect," "anticipate," "intends," "estimate," "will," "may," "continue," "should" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although Western Bulk believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements.
The information, opinions and forward-looking statements contained in this release speak only as at its date, and are subject to change without notice Western Bulk disclaims any obligation to update and 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.
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