Employee share purchase program 2010

Sandvika, November 16, 2010; REC has on November 15, 2010, as part of the employee share purchase program 2010 approved by the Annual General Meeting on May 19, 2010, purchased 351,347 own shares at an average price of NOK 17.22 per share. The shares will be allocated to the employees who have subscribed for shares under the employee share purchase program.

Under the share purchase program for employees, the following primary insiders in REC purchased in total 22,478 shares at a price of NOK 13.70 per share after the discount offered to the employees, with the exception of Tore Torvund as specified below.

Primary insider Ole Enger, President and CEO in REC, purchased 2,044 shares. After this transaction Mr. Enger and related parties hold 32,941 shares and 559,146 share options in the company.

Primary insider John Andersen Jr., Executive Vice President, REC Solar and Group COO, purchased 2,043 shares. After this transaction Mr. Andersen and related parties hold 292,798 shares and 395,503 share options in the company.

Primary insider Tore Torvund, Executive Vice President, REC Silicon, purchased 2,043 shares at a price of NOK 14.56. After this transaction Mr. Torvund and related parties hold 16,486 shares and 444,241 share options in the company.

Primary insider Bjørn Brenna, Executive Vice President and CFO in REC, purchased 2,043 shares. After this transaction Mr. Brenna and related parties hold 85,511 shares and 382,380 share options in the company.

Primary insider Øyvind Hasaas, Executive Vice President, Organizational Development & HR in REC, purchased 2,044 shares. After this transaction Mr. Hasaas and related parties hold 6,065 shares and 251,162 share options in the company.

Primary insider Kristine Ryssdal, Senior Vice President and Chief Legal Officer in REC, purchased 2,043 shares. After this transaction Ms. Ryssdal and related parties hold 3,085 shares and 306,575 share options in the company.

Primary insider Erik Sauar, Senior Vice President and CTO in REC, purchased 2,043 shares. After this transaction Mr. Sauar and related parties hold 257,467 shares and 334,756 share options in the company.

Primary insider Mikkel Tørud, Vice President and Investor Relations Officer in REC, purchased 2,044 shares. After this transaction Mr. Tørud and related parties hold 4,666 shares and 94,949 share options in the company.

Primary insider Kjell Christian Bjørnsen, Director Strategy and Business Development in REC, purchased 2,044 shares. After this transaction Mr. Bjørnsen and related parties hold 5,703 shares and 52,954 share options in the company.

Primary insider Bjørg Inger Sæther, Executive Assistant in REC, purchased 2,043 shares. After this transaction Ms. Sæther and related parties hold 2,043 shares in the company.

Primary insider Silje Johnsen, alternate employee representative on the Board of Directors and Corporate Legal Counsel of REC, purchased 2,044 shares. After this transaction Ms. Johnsen and related parties hold 3,569 shares in the company.


About REC

REC is a leading vertically integrated player in the solar energy industry. REC is among the world's largest producers of polysilicon and wafers for solar applications, and a rapidly growing manufacturer of solar cells and modules. REC is also engaged in project development activities in selected PV segments. Founded in Norway, REC is an international solar company, employing more than 4,100 people worldwide. REC had revenues in excess of NOK 9 billion in 2009.  Please visit www.recgroup.com to learn more about REC.

 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)