Stockholm, April 12, 2017
The ContextVision AB:s Profit Sharing Foundation has sold and purchased shares in ContextVision AB in accordance with the rules related to the foundation.
The ContextVision AB:s Profit Sharing Foundation has sold 29,300 shares during the period March 24 – April 4, at an average price of 62,05 NOK/share, in accordance with the rules related to the foundation. The sold shares were originally purchased in 2013, 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 company achieved important goals during 2016 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 1,238,000 were allocated to the foundation, and after tax deduction SEK 996,298 were transferred to the foundation. The foundation thereafter purchased 15,420 shares during the period April 7 – April 10, 2017, at the average price of 61,70 NOK/share.
The ContextVision AB:s Profit Sharing Foundation’s total ownership after the transactions is now 81,020 shares.
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 3 full calendar years. After that period, the shares will be sold and funds (less tax) will be paid to the employees.