Stockholm, May 19, 2016
The ContextVision AB:s Profit Sharing Foundation has purchased and sold shares in ContextVision AB in accordance with the rules related to the foundation.
The company achieved important goals during 2015 related to sales, the operational margin within the core business of image enhancement, successful product development as well as business development activities. As a result, SEK 1,094,000 were allocated to the foundation, and after tax deduction SEK 880,412 were transferred to the foundation. The foundation has purchased 30,500 shares during the period March 2 – March 16, 2016, at the average price of 28,80 NOK /share.
Following the purchases, the Foundation has also sold 16,000 shares during the period April 26 – May 18, at an average price of 31,87 NOK/share, in accordance with the rules related to the foundation.
The sold shares were originally purchased in 2012, and according to the rules they must be sold after a period of 3 full calendar years, the year of purchase thereby not included. The net contribution after tax deductions, will be paid out to the employees.
The ContextVision AB:s Profit Sharing Foundation’s total ownership after the transactions is now 94,900 shares.
Background:
In 2011, the board and management of ContextVision decided to introduce an incentive program through the creation of a profit-sharing foundation for its employees.
The program is intended to streamline the focus and efforts of all employees by allocating a part of the company’s net profits to a foundation that, in turn, will use the allocated funds to purchase ContextVision’s common stock on the Oslo Stock Exchange.
Senior management and the board of directors will each year formulate a number of operational and strategic targets to be achieved during the coming fiscal year.
According to the rules of the foundation, the shares bought each year will be kept for a period of 4 years. After that period the shares will be sold, and funds (less tax) will be paid to the employees.
For further information, please contact CFO Ann-Charlotte Linderoth,
e-mail: