Share programme for employees
To strengthen alignment of interests between the owners and the employees Telenor has established a general share purchase plan for employees.
Since Telenor was listed on the stock exchange in 2001, employees have been offered to purchase shares with discount and potential bonus shares. In 2006 employees in subsidiaries in the Nordic countries and Hungary was offered to purchase shares to a value of NOK 7,500 with 20% discount and potential bonus shares to a value of NOK 5,000. Bonus shares may be earned if the average closing price for the last 30 days of trade ending 1 December 2007 turns out to be at least 10 per cent higher than the average closing price in the corresponding period in 2006, i.e. NOK 113.50.
In 2006 4,988 employees, around 1/3 of those offered, participated. The 2005 program was offered in the Nordic countries with the same design. 3,590 participated and 3000 received bonus shares, in total 147,000 bonus shares to a cost of NOK 15 Million.
