On 1 April 2011, the Board of Directors of Marine Harvest ASA resolved to issue 6,242,214 new shares. The share issue was directed towards 64 senior executives who took part in the 2008 allotment of the Marine Harvest Share Price Based Incentive Scheme ("Scheme").
In 2008, the individuals participating in the Scheme were allotted a number of calculatory units (where each unit corresponds to one share in Marine Harvest) ("Units") and an appurtenant value (which corresponds to the market price of Marine Harvest's share + 7.5 %) (the "Base Value").
3 years after allotment, the individual participating in the Scheme are being paid a cash bonus corresponding to the positive difference between the Marine Harvest share's market value at such time and the Base Value, multiplied with the number of Units ("Bonus"). Full adjustment for dividend payments from Marine Harvest ASA, from the date of allotment to the date of maturity, is taken into account when calculating the Bonus for each participant (in accordance with the Oslo Stock Exchange Derivative Rules (A.2.2.8 (1)b)).
The payment of Bonus is conditional upon the individual under the Scheme being employed in the Marine Harvest Group during the whole earning period. The bonus amount is, for each individual, limited to 2 years' salary.
The individuals participating in the Scheme are obligated to invest the Bonus after income tax has been deducted in Marine Harvest shares at market price. The shares were subscribed based on the volume weighted average share price of 30 March 2011 (NOK 6.743 per share), which is in line with the contractual terms between Marine Harvest and the participants under the Scheme. As a consequence the shares were issued at the same price. Marine Harvest is covering the individual's expenses for purchasing the shares.
The individuals under the Scheme are obligated to own the subscribed shares for a 12 months period following their acquisition.
As a result of the share issue, the share capital of Marine Harvest ASA is increased by NOK 4.681.660,50 to NOK 2,685,855,407.25. Furthermore the share premium account is increased by NOK 37,409,588,50. The new number of shares in Marine Harvest ASA is 3,574,898,329.
The shareholdings of the below primary insiders have changed as a result of subscription of shares under the Scheme:
Jørgen K Andersen (CFO) subscribed 241,349 shares and has a total shareholding of 294,572
Henrik Heiberg (VP Finance & Treasury/Finance Director) subscribed 80,450 shares and has a total shareholding of 180,450 shares.
Lise M Holen (VP Controlling and Accounting) subscribed 80,450 shares and has a total shareholding of 82,206 shares.
Pedro S Leite (VP/Director of Tax and Legal) subscribed 80,450 shares through his wholly owned company PSL Holding. PSL Holding has a total shareholding of 83,673.
Rune Hegrestad (VP/Group Director IT) subscribed 80,450 shares and has a total shareholding of 81,917 shares.
Øyvind Oaland (Group Technical Director) subscribed 80,450 shares, which equals his total shareholding.
Marit Solberg (COO Farming) subscribed 241,349 shares and has a total shareholding of 242,816 shares.
Jo Dekeyzer (MD Marine Harvest VAP Europe) subscribed 219,430 shares and has a total shareholding of 229,430 shares.
Vincent Erenst (MD Marine Harvest Canada) subscribed 176,926 shares, which equals his total shareholding.
Alan Sutherland (MD Marine Harvest Scotland) subscribed 154,198 shares and has a total shareholding of 204,198 shares.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.