Ice Group ASA – New share option program

Oslo, 24 February 2020: The Board of Directors of Ice Group ASA (the "Company") has approved a new long-term incentive (LTI) program aimed to align the interests of the participating employees with those of the Company's shareholders. The program is discretionary, and participants are invited on an annual basis.

The total number of options granted in this year’s program is 2,800,000 where each option will give the holder the right to acquire one Ice Group ASA share. The options are granted with 800,000 options to CEO, 250,000 options to each other member of the executive management team and up to 250,000 options in total to other key employees. The program includes a cap on profit equal to 5x annual salary per employee.

The strike price of the options is NOK 25. The options will have a vesting period of four years, with 25% of the options vesting each year and first vesting one year after the grant date. Two exercise periods per year will be set by the Company. The options will expire 7 years after the grant date.

After these grants, the members of the management team in the Company has the following holdings in the Company’s shares and bonds:

Name

Position

Shares

Options

Eivind Helgaker

Chief Executive Officer

152,476

1,345,000

Henning Karlsrud

Chief Financial Officer

25,000

300,000

Shiraz Abid

Chief Commercial Officer

3,292

400,000

Hans Heggenhaugen

Chief Product Officer

6,000

285,000

Jan-Erik Hvidsten

Chief Technology Officer

-

250,000

Reynir Johannesson

Communications Director

-

250,000

Cathrine Wiig Ore

General Counsel

-

250,000

Martin Westersø

Chief of Staff

15,194

365,000

Contact:
Henning Karlsrud, CFO, tel: +47 930 45 389, email: henning.karlsrud@icegroup.com

About Ice Group ASA
Ice Group is a telecommunications company with nationwide networks in Norway and Denmark. In Norway, the company operates a pure 4G mobile network, providing smartphone, m2m, IoT and mobile broadband services to B2C and B2B customers. Ice Group also offers mobile broadband, m2m and IoT services in Denmark through its own network. For more information, see www.icegroup.com.