Sandvika, November 9, 2009; REC has, as part of the employee share purchase program approved by the Annual General Meeting May 19, 2009, purchased 274,540 own shares at an average price of NOK 34.91 per share. The shares will be allocated to the employees under the employee share purchase program.
Under the share purchase program for employees, four primary insiders in REC purchased in total 3,436 shares at a price of NOK 27.94 per share after the discount offered to the employees.
Primary insider Ole Enger, President and CEO purchased 1,002 shares. After this transaction Mr. Enger and related parties hold 3,716 shares and 138,962 share options in the company.
Primary insider Rolf Birger Nilsen, employee representative on the Board of Directors, purchased 1,002 shares. After this transaction Mr. Nilsen and related parties hold 1,681 shares in the company.
Primary insider Silje Johnsen, alternate employee representative on the Board of Directors, purchased 1,002 shares. After this transaction Ms. Johnsen and related parties hold 1,002 shares in the company.
Primary insider Lena Beate Lorentzen, alternate employee representative on the Board of Directors, purchased 430 shares. After this transaction Ms. Lorentzen and related parties hold 721 shares in the company.
For more information, please contact:
Jon André Løkke, SVP and Investor Relations Officer, Tel: +47 907 44 949
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. REC Solar is a rapidly growing manufacturer of solar cells and modules, and are also engaging in project development activities in selected segments of the PV market. REC had revenues of NOK 8 191 million and an operating profit of NOK 2 529 million in 2008. More than 3 000 employees work in REC's worldwide organization. Please also see www.recgroup.com