Kitron: Allocation of options

On 23 October 2019, the board of directors of Kitron ASA resolved to issue 1,250,000 options to senior management. The options are issued in accordance with Kitron's long term incentive program 2019-2022 and the board of directors declaration on salaries and other remuneration to the senior executive management, as approved by Kitron annual general meeting held 30 April 2019.

The share option program and properties of the options are described in note 28 in Kitron's annual financial statements for 2018.

The options are allocated to the management as follows:

• CEO and President Peter Nilsson received 200,000 options. After the allocation Peter Nilsson holds 200,000 options and 2,079,182 shares in Kitron.
• CFO Cathrin Nylander received 150,000 options. After the allocation Cathrin Nylander holds 150,000 options and 868,752 shares in Kitron.
• COO Israel Losada Salvador received 150,000 options. After the allocation Israel Losada Salvador holds 150,000 options and 743,831 shares in Kitron.
• CHRO Anne Lise Hjelseth received 150,000 options. After the allocation Anne Lise Hjelseth holds 150,000 options and 113,846 shares in Kitron.
• MD Norway Hans Petter Thomassen received 150,000 options. After the allocation Hans Petter Thomassen holds 150,000 options and 431,770 shares in Kitron.
• MD Lithuania Mindaugas Sestokas received 150,000 options. After the allocation Mindaugas Sestokas holds 150,000 options and 516,978 shares in Kitron.
• MD Sweden Stefan Hansson Mutas received 150,000 options. After the allocation Stefan Hansson Mutas holds 150,000 options and 219,261 shares in Kitron.
• MD China Zygimantas Dirse received 150,000 options. After the allocation Zygimantas Dirse holds 150,000 options and 452,622 shares in Kitron.

For further information, please contact:
Tuomo Lähdesmäki, Chairman of the Board of Kitron
Tel.: +358-50-5879648
E-mail: investorrelations@kitron.com  

About Kitron
Kitron is one of Scandinavia's leading electronics manufacturing services companies for the Energy/Telecoms, Industry, Defence/Aerospace, Medical devices and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Poland, Germany, China and the United States. Kitron had revenues of about NOK 2.6 billion in 2018 and has about 1,700 employees. www.kitron.com  

This information is subject to the disclosure requirements pursuant to section 5-12 and 4-2 of the Norwegian Securities Trading Act