Kitron

Allocation of options

(2017-12-14) In 2015 the Board introduced a new share option program for executive management comprising up to 5,500,000 shares running for three years from the start of the second calendar quarter 2016.

The share option program entails that executive management, on certain terms, may be granted a right to subscribe for shares in Kitron ASA ("Kitron"). The share option program is further described in more detail in note 18 in Kitron's annual financial statements.

In accordance with the abovementioned share option program and the board of director's Declaration on salaries and other remuneration to the senior executive management, as approved by Kitron annual general meeting held 21 April 2016, the Board of Kitron decided, on 14 December 2017, to issue another 1,700,000 options under the share option program.

The options are allocated to the management as follows:

CEO and President Peter Nilsson received 500,000 options in addition to the 1,250,000 he has been granted previously. After the allocation Peter Nilsson holds 1,750,000 options and 1,148,876 shares in Kitron.

CFO Cathrin Nylander received 148,575 options in addition to the 437,500 she has been granted previously. After the allocation Cathrin Nylander holds 586,075 options and 515,064 shares in Kitron.

COO Israel Losada Salvador received 331,420 options in addition to the 437,500 he has been granted previously. After the allocation Israel Losada Salvador holds 768,920 options and 460,064 shares in Kitron.

CHRO Anne Lise Hjelseth received 114,285 options, in addition to the 100,000 she has been granted previously. After the allocation Anne Lise Hjelseth holds 214,285 options in Kitron.

MD Norway Hans Petter Thomassen received 137,145 options in addition to the 375,000 he has been granted previously. After the allocation Hans Petter Thomassen holds 512,145 options and 155,087 shares in Kitron.

MD Lithuania Mindaugas Sestokas received 137,145 options in addition to the 375,000 he has been granted previously. After the allocation Mindaugas Sestokas holds 512,145 options and 339,265 shares in Kitron.

Director Stefan Hansson Mutas received 137,145 options in addition to the 375,000 he has been granted previously. After the allocation Stefan Hansson Mutas holds 512,145 options and 4,000 shares in Kitron.

MD China Zygimantas Dirse received 194,285 options in addition to the 187,500 he has been granted previously. After the allocation Zygimantas Dirse holds 381,745 options and 204,170 shares in Kitron.

After the above allocation, 162,500 options remain under the share option program as non-allocated.

For further information please contact:
Tuomo Lähdesmäki, Chairman Kitron ASA, Tel.: [phone].

Kitron is one of Scandinavia's leading electronic manufacturing services companies for the Data/Telecoms, Defence, Energy, Industry, Medical devices and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, China and the United States. Kitron had revenue of about NOK 2.1 billion in 2016 and has about 1,350 employees. www.kitron.com

This information is subject to disclosure pursuant to section 4-2 of the Norwegian Securities Trading Act (Norwegian: verdipapirhandelloven) and made public in accordance with requirements set out in section 5-12 of the Norwegian Securities Trading Act.

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Source: Kitron ASA via Globenewswire