Under its share option programme for senior management, Orkla has awarded Managing Direcor Håkon Chr. Andersen, Orkla Foods, 4,000 new options. He will be entitled to buy a corresponding number of Orkla shares at a strike price of NOK 205.70.
These options may not be exercised until after the publication of Orkla's financial results for 2007 (in February 2008) and will expire on 15 December 2010.
Moreover, Orkla ASA is obliged to award Andersen additionally 4,000 options in November next year assumed a permanent post without given notice of termination of employment.
After this Håkon Chr. Andersen holds 17,334 options and 9,368 shares in Orkla ASA.
After this transaction a total of 1,928,845 options in Orkla have currently been issued.
Moreover, Orkla has an exposure through a cash-settled financial derivative of 450,000 underlying shares in the hedge position related to the remaining part of the cash bonus programme.
Orkla currently holds 6,521,071 own shares.