Kitron - Allocation of options

(2014-10-22) The board of directors of Kitron ASA ("Kitron") has decided to allocate 1 500 000 share options to the new CEO Peter Nilsson. Peter Nilsson will after the allocation have 1 500 000 share options in Kitron. Peter Nilsson owns no shares in Kitron.

Peter Nilsson will join the option program on the same terms and conditions as the other participants in the program, which was approved by the Annual General Meeting on 22 April 2013 (see Stock market announcement on 2013-07-02).

After this allocation of options, the Executive management have, together with related parties, the following holding of shares and rights to shares in the Company:  ExecutivePositionOptionsShares Peter Nilsson CEO 1 500 000   Cathrin Nylander CFO 600 000   Israel Losada Salvador COO 600 000   Dag Songedal MD Norway 550 000   Thomas Löfgren MD Sweden 500 000   Mindaugas Sestokas MD Lithuania 500 000   Tommy P. Storstein Sales Director 425 000   Bengt Enbom HR Director 400 000 10 000 [unallocated]   400 000   Total 5 475 00010 000

For further information please contact:
Tuomo Lähdesmäki, Chairman, Tel.: +358-50-5879648.

Kitron is one of Scandinavia's leading electronics manufacturing services companies for the Defence, Energy/Telecoms, Industry, Medical equipment and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, China and the United States. Kitron had revenues of about NOK 1.6 billion in 2013 and has about 1,200 employees. www.kitron.com

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act).

This announcement is distributed by Nasdaq OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kitron ASA via Globenewswire
HUG#1864878