Ownership Structure
At the end of the year Norwegian Air Shuttle ASA had a total of 4 598 shareholders split between institutional and private investors. Overseas shareholders controlled 20 percent of the shares at year-end, compared to 18 percent at the beginning of the year. Apart from Norway the largest shareholdings are in the United Kingdom, Finland, the United States, and Sweden with a 6 percent, 5 percent, 5 percent and 3 percent share, respectively.
The company’s “Employee Share Saving Plan” purchased 57 165 shares for the company’s employees.
In 2008 Norwegian issued options to employees who agreed to join a voluntary option program where their salary was reduced in exchange for options. The initiative was part of the Group’s cost-cutting program precipitated by the record high fuel prices in 2008. The rest of the outstanding options connected to this program was exercised in 2010, a total of 326 601 options.
In 2010 a new voluntary option program where introduced to all employees where part of their salary would be reduced in exchange for options. A total of 292 021 options where granted. All options connected to this program vests in 2011 and 2012 and must be exercised within October 2012.
The Executive Management and leading employees exercised 45 000 options in connection with the company’s incentive program.
The company did not own any own shares at year end.
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The Share
The share price at year-end was NOK 117.5, an increase of 2 percent since the end of 2009. The share is included in the OB Match Liquidity Group on the Oslo Stock Exchange. The average daily traded volume in 2010 was 225 976 shares, equivalent to an annual turnover ratio of 1.7.
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