Incentive Shares for 2005 Awarded to Employees

This article originates from the news archive of Det norske.

8. June 2006

On 6 March 2006, Pertra’s Board of Directors approved an incentive share program for Pertra’s employees. Following its assessment of Pertra’s total achievements in the previous year, the Board will decide whether the employees are to be awarded bonus shares.

Incentive shares and bonus for one year shall not exceed a maximum of 40 % of the basic salary, and the allotment will take place subsequent to an Ordinary General Meeting.

Based on power of attorney issued in connection with the Extraordinary General Meeting held 24 February 2006, Pertra’s Board of Directors has approved to issue 8,007 bonus shares in recognition of the good result for 2005. All who were employed in Pertra in 2005 and still work for the company are eligible for bonus shares. 18 persons were qualified for allotment, and all employees are treated equally. A maturity period of 12 months applies to these shares.