REC ASA - Purchase of treasury shares
Sandvika, May 19, 2009; REC has today on the basis of the REC 2006 and 2007 Long Term Incentive Plan (LTIP) purchased 206 shares at an average price of NOK 167.97 per share.
According to the LTIP agreement, shares allocated under the 2006 and 2007 Long Term Incentive Plan shall be transferred back to REC at the original transfer price when an employee leaves the Company before expiry of the LTIP period.
REC is the leading vertically integrated player in the solar energy industry. REC Silicon and REC Wafer are among the world's largest producers of polysilicon and wafers for solar applications, and REC Solar is a rapidly growing manufacturer of solar cells and modules. REC Group had revenues of NOK 8,191 million and an operating profit of NOK 2,529 million in 2008. About 2,500 employees work in REC's worldwide organization. Please also see www.recgroup.com