The following primary insiders (or their related parties as described below) have agreed to buy shares in Ocean Yield ASA ("the Company") from the Company:
* Lars Solbakken, CEO, has (through his wholly owned company Finmarine AS) agreed to buy 29 911 shares in Ocean Yield ASA at a price of NOK 30.40 per share. After this transaction, Lars Solbakken owns 600 155 shares in the Company (all shares are owned indirectly through the wholly owned company Finmarine AS).
* Eirik Eide, CFO, has (through his wholly owned company Kleiver Invest AS) agreed to buy 76 012 shares in Ocean Yield ASA at a price of NOK 30.40 per share. After this transaction, Eirik Eide owns, directly or indirectly, 169 072 shares in the Company.
* Axel M. Busch-Christensen, VP Investments, has (through his wholly owned company Como Invest AS) agreed to buy 36 008 shares in Ocean Yield ASA at a price of NOK 30.40 per share. After this transaction, Axel M. Busch-Christensen owns, directly or indirectly, 64 815 shares in the Company.
The purchase of shares is made as part of the Company's management incentive program. The purchase price equals the closing share price of the Ocean Yield share on 9th May 2014, less a discount of 20%, reflecting that the shares have a lock-up period of three years. The share price as of close 9th May 2014 was NOK 38.00.
An order for the acquisition of up to 350,000 shares will be placed in the market with an investment bank on 13th of May 2014. These shares will be used in settlement of the abovementioned transactions and the remaining shares will be held as treasury shares and used towards the management incentive program going forward.
This information is subject of the disclosure requirements pursuant to section 4-2 of the Norwegian Securities Trading Act.
For further information, please contact: Lars Solbakken, CEO of Ocean Yield ASA Phone: +47 24 13 01 90 E-mail: firstname.lastname@example.org
Eirik Eide, CFO of Ocean Yield ASA Phone: +47 24 13 01 91 E-mail: email@example.com
About Ocean Yield:
Ocean Yield is a ship owning company with investments within oil-service and industrial shipping. The company focuses on modern assets with long-term charters to solid counterparties. The company has a significant contract backlog that offers visibility with respect to future earnings and dividend capacity. Ocean Yield has an ambition to pay attractive and growing dividends to its shareholders.