D/S Norden
Statement of leading employees’ transactions in NORDEN shares and related securities

D/S Norden 

04.05.2015 15:48

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                                                              Announcement no. 8
                                                                      4 May 2015

Dampskibsselskabet NORDEN A/S
Statement of leading employees' transactions in NORDEN shares and related
securities 

As stated in NORDEN's annual report of 4 March 2015, Jan Rindbo is included by
NORDEN's share option programme for leading employees and receives 50,000 share
options of the 400,000 share options granted in 2015. 

Each share option entitles the recipient to acquire one NORDEN share with a
nominal value of DKK 1. The share options may be exercised in the period from
23 April 2018 to 23 April 2021. 

The exercise price of the options is determined as the five-day average of the
market price following 23 April 2015, less all dividend payments after 23 April
2015 plus an addition of 10%. 

According to section 28A of the Danish Securities Trading Act, the Company
shall report the following information about the transactions of leading
employees and employee-elected board members in the Company's shares and
related securities: 

Name:                                            Jan Rindbo                     
Occasion:                                        Reporting duty, President &
                                                  CEO                           
Issuer:                                          Dampskibsselskabet NORDEN A/S  
ISIN code:                                       DK0010269844                   
Description:                                     Shares                         
Transaction:                                     Allotment of share options     
Commercial date:                                 4 May 2015                     
Market:                                          NASDAQ OMX Copenhagen A/S      
Number:                                          50,000                         
Black-Scholes value of allocated share options   879,000                        
 in DKK:                                                                        
Holding after the transaction:                   0 shares and 50,000 options    

The theoretical Black-Scholes value of each option is DKK 17.58 based on the
exercise price determined as the five-day average of the market price (all
transactions) from 24 April 2015. The estimated value is based on the following
assumptions: that all options are exercised after 3.25 years, a volatility of
26.7%, an annual dividend rate of DKK 0 per share (from 2015) and a risk free
interest rate of 0%. 

                                        

                                  Kind regards,
                          Dampskibsselskabet NORDEN A/S
                                        

                            Michael Tønnes Jørgensen
                     Executive Vice President & CFO

                                        

Further information: Michael Tønnes Jørgensen, Executive Vice President & CFO,
tel. +45 3315 0451. 

________________________________________________________________________________

    DAMPSKIBSSELSKABET NORDEN A/S, 52, STRANDVEJEN, DK-2900 HELLERUP, CVR NO.
                                    67758919
News Source: NASDAQ OMX



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Language:     English
Company:      D/S Norden
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0060083210
WKN:          
 
End of Announcement                             DGAP News-Service
 
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