News

(January 18th 2012)

Christopher J. Dohrmann joins Norse Solutions as Executive Director Business Development USA

Norse Solutions is pleased to announce the addition of a new key employee strengthening our experienced and competent team. Former Morgan Stanley Smith Barney (MSSB) Executive Director Christopher J. Dohrmann has joined Norse as Executive Director and is to focus on Business Development for the US market. Chris has spent 16 years in the share-plan administration industry in various positions and is a seasoned professional and subject matter expert in the Equity Compensation administration. Chris will be based in New York and will focus on business development in the US and UK as well as managing large accounts world-wide, contributing to Norse Solutions’ high growth.

Arne Peder Blix, President and CEO of Norse Solutions, is excited to have Chris join the Norse team; “Being able to welcome Chris on our solid team proves that we continue to attract the best talent in the industry. With our rapid growth, Chris’ tremendous experience and know-how, combined with his high-energy pace and “can-do” attitude, fits well with the soul of our growing company. Chris is a most welcomed asset and we look forward to benefit from his long experience, world-wide network, deep knowledge of the subjects and ability to focus on finding working solutions to our Clients’ needs.

(Read the Press Release)

(January 17th 2012)

Nick Clegg, the Deputy Prime Minister of UK, calls for decade of employee share ownership

UK's Deputy Prime Minister, Nick Clegg, called for a "decade of employee share ownership" in a speech to CentreForum on January 16th.

The Deputy Prime Minister made clear that he believes in employee share ownership and he stated that: "I am kickstarting a drive in Government to get employee ownership into the bloodstream of the British economy."

He also stated that:"Firms that have engaged employees, who own a chunk of their company, are just as dynamic, just as savvy, as their competitors. In fact, they often perform better: lower absenteeism, less staff turnover, lower production costs. In general, higher productivity and higher wages. They weathered the economic downturn better than other companies." and said that "the evidence and success stories cannot be ignored, and we have to tap this well if we are serious about growth. The 80s was the decade of share ownership. I want this to be the decade of employee share ownership."

(Deputy Prime Minister's speech at Mansion House)

(December 9th 2011)

Excentive International and Norse Solutions announce strategic partnership

Excentive International, the fastest growing solution provider for Total Compensation Management, and Norse Solutions, the established provider of software and services for administration, accounting and disclosure of share plans, announce today an agreement to partner together on a global basis.

(Read the Press Release)

(October 7th 2011)

Hoogervorst challenges IFRS convergence fears

Chairman Hans Hoogervorst and trustee Harvey Goldschmid addressed the American Institute of CPAs (AICPA) and IFRS Foundation conference held in Boston, USA where both argued strongly for convergence.

Whereas Hoogervorst sought to answer US stakeholders’ major concerns such as quality of standards, consistent application, cost of adopting global standards and the independence of the IASB, Goldschmid outlined why he believes US adoption of IFRS is a National Imperative; Goldschmid discussed the consequences of the US failing to commit to IFRS adoption and warned about two possible scenarios if SEC says No; one bad for the US and the other far worse.

(Read more)

(August 1th 2011)

Norse Solutions proudly introduces the American Coalition of Stock Plan Administrators

As part of our ever increasing presence in the U.S. share-based payment administration market, Norse Solutions has actively contributed as a co-founder in the establishment of ACSPA.

With the fast changing regulations impacting U.S based companies who offer equity compensation and broad based stock plans to their employees, Norse Solutions and 11 other leading equity plan administration and technology companies (including Morgan Stanley Smith Barney, Schwab, E*trade, UBS, Fidelity and others) have come together to form the American Coalition of Stock Plan Administrators (ACSPA).

ACSPA was created to work closely to educate government officials to the challenges and limitations from both the technology as well as the administrative functions employed by companies sponsoring these plans. In addition, ACSPA is working closely with various equity plan industry, education and training organizations to enhance opportunities for industry professionals and supporting research and industry surveys.

Download the press release or visit the ACSPA webpages: www.acspa.info for more information

(July 27th 2011)

IFRS strategic update (GEO webinar)

Arne Peder Blix and Norse Solutions held the GEO webinar: “IFRS strategic update” on the 27th of July. The adoption of the Internatial Financial Reporting Standard (IFRS) continues to take place at a varied pace across the world. In this webinar we shared input and our views on:

• Update from the SEC Roundtable
• IFRS – will SEC adopt?
• Discussion on the importance of and how to attract foreign investment to U.S. issuers
• Good Corporate Governance and the importance of disclosure
• Transparancy and quality for all industries
• Share-based payment and Good Corporate Governance
• Availability of technology for adoption of IFRS in the U.S.

(Download the presentation)

You can also find the entire webinar with Q&A recorded on the GEO webpages http://www.globalequity.org/geo/webinarlibrary
You need to login as a member to view the recording.

(June 2011)

Comments on Commission Statement in Support of Global Convergence

(Read more)

(May 27th 2011)

Norse Solutions in the South China Morning Post

(Read more)

(May 2011)

Economic survey of employee ownership in European countries in 2010

The most recent numbers show that employee ownership was continuously progressing across Europe since the financial crisis. This is the main conclusion of the economic survey of employee ownership in the European countries in 2010. The survey brings exhaustive information about the 2.467 largest European companies, employing 32.6 million people in 2010.

(Download summary)

(April 20th 2011)

SEC Announces Roundtable on International Financial Reporting Standards

The Securities and Exchange Commission staff announced today that it will sponsor a roundtable in July to discuss benefits or challenges in potentially incorporating International Financial Reporting Standards (IFRS) into the financial reporting system for U.S. issuers.

(March 15th 2011)

Could a Stock Exchange Merger Accelerate Adoption of IFRS?

The recent announcement of a merger between Deutsche Boerse AG and the New York Stock Exchange leads many to believe that an acceleration of the conversion from U.S. GAAP to International Financial Reporting Standards for public companies may occur.

(Read more)

(March 11th 2011)

U.S Needs To Commit To IFRS This Year, Says Tweedie

In remarks at the U.S. Chamber of Commerce's Future of Financial Reporting-Convergence or Not? conference yesterday, International Accounting Standards Board Chairman Sir David Tweedie "ma[d]e the case...on the pressing need for the United States to commit itself this year to a clear, defined, and workable timetable for the incorporation and use of IFRSs, as published by the IASB."

(Read more)

(March 2011)

Norse Solutions in Computerworld

Europeisk pris til norsk programvare

(March 1st 2011)

Norse Solutions is honored to have won a Gold European Seal of e-Excellence 2011.

The European Seal of e-Excellence rewards ICT and Digital Media companies with an excellent track record in innovation marketing. Awarded annually since 2003 by the EMF and its Partner Organisations, the Seal is widely known for recognizing companies with:

• innovative products and services; and
• excellence in the marketing thereof.

"Norse Solutions has since 2002 improved and expanded our comprehensive web-based software with a continuous focus on quality and precision. We aim to deliver the best and most comprehensive software and service for the efficient administration, accounting and disclosure of share-based payment programs. Norse Options™ has proven itself as the preferred IFRS-2 compliant software for SMEs, global corporations and large banks in its market. We are very proud and honored to have been awarded the European Seal of E-Excellence in Gold for the second consecutive year.”

Please see

• Press Release
• European Seal of e-Excellence
• Winners 2011

(January 28th 2011)

The Path to Global Standards?

The new FASB chairman spells out an ambitious agenda that could produce a clear road to the adoption of international financial reporting standards by U.S. companies.

(Read more)

(January 14th 2011)

Norse Solutions is pleased to announce the establishment of Norse Solutions Sweden AB

As of January 2011 Norse Solutions Sweden AB has been established as a wholly owned subsidiary of the Norway-based Norse Solutions AS. Norse Solutions Sweden AB has its office in Kungsgatan 44, 4th floor, Stockholm.

Norse Solutions Sweden AB will support Swedish clients directly on Plan Administration and Accounting as well as carry out marketing activities. This will enable a tighter relationship with our Clients and a closer follow-up of Swedish market practices.

(Press release)

(December 10th 2010)

BNP Paribas Securities Services and Norse Solutions enter agreement

Norse Solutions is pleased to announce that we have been entered an agreement with BNP Paribas Securities Services covering software and services related to IFRS accounting and disclosure of share based payment programs.

BNP Paribas Securities Services is the leading provider in stock plan administration in France and Southern Europe and this agreement will enable BNP Paribas Securities Services to offer a one stop shopping solution comprising plan administration as well as all aspects related to IFRS 2 reporting.

(Article Dagens Næringsliv)
(Press release)

(December 1st 2010)

Global Equity Organization Scandinavian Chapter

December 1st 2010 the Scandinavian Chapter of the Global Equity Organization was launhed. The daily national financial newspaper, Finansavisen was also present and published an article covering the event.

“Local ownership has a significance, and more employees should own shares in the company they work for” said the Conservative Party leader Erna Solberg in the opening of GEO Scandinavien Chapter.

GEO is a non-profit organization that works to create a forum for information, knowledge and experience among companies and individuals for share-based compensation and incentive programs for companies both nationally and internationally. In Scandinavia GEO co-operates with AksjeNorge and Norse Solutions.

(Article Finansavisen)
(Translated version)

(November 26th 2010)

Norse Solutions ranked number 491 on Deloitte’s EMEA Fast 500 List

We are proud to announce that Norse Solutions was ranked number 491 on the Deloitte Technology Fast 500 EMEA 2010, a ranking of the 500 fastest growing technology companies in Europe, the Middle East and Africa.

To determine the fastest growing companies, the DTTL TMT global industry group calculated the revenue growth percentage over the past five years. Being included in this list is quite an accomplishment for Norse Solutions.

The Awards Ceremony was held in London on November 25th 2010. The entire report can be found here.

In addition to making the Deloitte Technology Fast 500, Norse Solutions ranked number 45 on the Deloitte Technology Fast 50 in Norway, which is a ranking of the 50 fastest growing technology firms in Norway.

(October 21th 2010)

Norse Solutions makes the Deloittes Fast50 List

Deloitte announced on October 21th 2010 ranking of Deloitte Technology Fast 50 for Norwegian companies based on percentage revenue growth over a five-year period. Norse Solutions is proud to be qualified and ranked number 45. Deloitte has also informed that Norse will be ranked on the Deloitte EMEA Fast 500, which will be announced on 25th of November 2010.

Deloitte's Fast 50 List

(June 2010)

StepStone Case Study

StepStone ASA, recently acquired by Axel Springer, has volunteered to participate in a Case Study where we examined the results and benefits of using the software Norse Options to administer and account for their option plans. The Case Study is available here.

(March 2010)

Norse Solutions is honored to have won a Gold European Seal of e-Excellence 2010.

The European Seal of e-Excellence rewards ICT and Digital Media companies with an excellent track record in innovation marketing. Awarded annually since 2003 by the EMF and its Partner Organisations, the Seal is widely known for recognizing companies with:

1) innovative products and services;
2) excellence in the marketing thereof.

"Since our beginning in 2002, we have focused continuously on quality and precision in everything we do. Norse Solutions aims to provide the best software solutions in the share-based payment administration market and thereby ensure that our software Norse Options™ will become the preferred solution for Plan Administration, accounting and disclosure worldwide. We are very proud and honored to have been awarded the European Seal of E-Excellence in Gold."
-Arne Peder Blix, CEO

Please see:

• Press Release
• http://www.sealofexcellence.org/
• Winners 2010

(December 15th 2009)

Norse Solutions enters new partnership

(November 24th 2009)

Norse Solutions ranked number 183 on Deloittes
EMEA Fast 500 List

Today Deloitte announced the 2009 ranking of the Deloitte Technology Fast 500 for EMEA companies. Despite global economic turmoil, there were some high performers among technology companies in Europe, Middle East, and Africa (EMEA) and the Fast 500 in 2009 exceeded that of 2008.

The Fast 500 encompasses all technology industry segments including: Biotech, Pharmaceutical and Medical Equipment, Telecommunications and Networking, Computers and Peripherals, Internet, Semiconductors, Components and Electronics, Media and Entertainment, Software, and Greentech.

Norse Solutions is proud to be ranked number 183 on this exclusive list. The Awards Ceremony was held in London on November 24th 2009. The entire report can be found here.

Deloitte's EMEA Fast 500 List

(October 20th 2009)

Norse Solutions makes the Deloittes Fast50 List

Today, Deloitte announced the 2009 ranking of Deloitte Technology Fast 50 for Norwegian companies based on percentage revenue growth over a five-year period. Norse Solutions is proud to be qualified and ranked number 23. Deloitte has also informed that Norse will be ranked on the Deloitte EMEA Fast 500, which will be announced on 24th of November 2009.

Deloitte's Fast 50 List

(October 1st 2009)

Norse Options v3.1 was launched October 1st 2009

Main features included in the new launch were enhanced functionalities related to;

• Support for performance-based programs
• Basis-reports and trail for calculation of taxable benefits
• Improved overview of equity holdings for employees (free and locked-in shares)
• Customizable Graphic User Interface (GUI) for employee login
• Calculation and reporting of bonus shares

(August 11th 2009)

Our client Norwegian Air Shuttle in the Norwegian financial newspaper; Finansavisen

Norwegian-ansatte har gjort aksjekupp

(June 5th 2009)

Norse Solutions in the Norwegian financial magazine; Kapital

Aksjelønnsomt Kapital 10/2009

(February 19th 2009)

Norse Solutions in the Norwegian financial newspaper; Finansavisen

Aksjelønn virker

(December 15th 2008)

Norse Solutions in the Norwegian financial newspaper; Finansavisen

Satser på USA-banker

(October 2008)

NASPP Annual Conference 2008

Norse Solutions' staff participated in the NASPP Annual Conference in New Orleans. This was the first time Norse Solutions has attended an exhibition. Our web-page visits have more than doubled after this. A number of other exhibitors have been contacting us the last couple of weeks and we are overwhelmed and humbled by all the positive feedback we have received.

(19th. August 2008)

Study Finds Broad-Based Options in Venture-Backed Companies Both Common and Effective

Data on the extent and effectiveness of broad-based equity plans in closely held companies are scarce and based on samples too limited to be persuasive, but we recently came across one significant exception. In "Give Everyone a Prize? Employee Stock Options in Private Venture-Backed Firms" (2005, unpublished), John R.M. Hand of the Kenan-Flagler Business School looked at data from 2004 and 2005 provided by VentureOne, a provider of data on venture-backed firms. The sample consisted of 1,032 venture-backed companies responding to the survey for which adequate data were available. The study found the mean percentage of employees getting options was 89%, and 74% of the companies granted options to everyone. In other words, contrary to the conventional wisdom that broad-based equity awards have been disappearing in venture-backed companies, they are in fact almost universal.

Hands study looks at whether granting options deeply into the organization is a good strategy for venture investors. He correlates the fraction of the firms employees receiving shares and finds that granting options to more employees results in better performance than granting them more narrowly. The specific measures are too complex to describe here, but they essentially create a hypothetical optimal depth of options granted. Using that optimal depth, Hand concludes that firms that err of on the side of too many people getting options do better than those that err on the side of too few.

The argument here is that granting options too far down poses minimal risk because lower-level employees usually get smaller grants. In contrast, not granting far enough down the ladder can create a substantial risk that potentially critical people will not be retained or motivated. So it is better to err on the side of caution.

This article is on loan from www.nceo.org

(30. June 2008)

Norse Options v2.2 was delivered on time on target 30th of June 2008

The updated version launches two major new features;

• New and improved Graphical User Interface (GUI)
• Possibility to calculate expected attrition

The upgrade also included several smaller improvements.

(31. January 2008)

Norse Options v2.1 was delivered on time on target 31st of January 2008

New functionality including elaborate functionality aiding employees' private tax reporting statements in share purchase and share saving programs.

(October 2007)

Norse Solutions AS in Dagens Industri in Sweden.

Press release 16 October 2007

Dagens Industri 13.10.2007

(June 2007)

Arne Peder Blix, CEO in Norse Solutions AS interviewed by Legally yours in Sweden.

Legally yours no. 6 - 2007

(22. February 2007)

Norse Solutions AS has entered into a cooperation agreement with VP Services A/S (VP), a wholly owned subsidiary by Værdipapircentralen AS in Denmark.

The Agreement gives VP the exclusive rights in Denmark to use and grant their customers access to Norse’s proprietary services technology, Norse Options.

Press release 22 February 2007

VP Website

(February 2007)

Norse Options v2.0 was delivered on time on target in
February 2007.

The updated version launches two major new features;

• Possibility to modify (re-price) granted options. This calculation has previously been performed manually by Norse Solutions and is a vital part of reporting correctly when e.g. the strike price of the option is modified.
• Expected life of the option can be set manually when granting options.

Other improvements include:

• Possibility to set (override) volatility for various durations.
• Format for time/date is shown on all screens.
• E-mail confirmations are sent to employees when they update critical information such as bank account, security deposit account etc.

In connection with the release of v2.0, Norse Solutions is changing supplier of hosting services to ErgoGroup. For further information related to the hosting platform, refer to our “Downloads” – section.

(31. January 2007)

Norse Solutions AS received a SAS 70, Report of Independent Auditors, 31 st January 2007.

Independent auditors have examined option processes and IT general controls related to the Norse Options environment.

Norse Solutions AS can therefore, from this point onwards, provide the SAS 70 report to our Clients upon request.

The examination was performed in accordance with standards established by the American Institute of Certified Public Accountants (AICPA).
More about SAS 70

(September 2006)

Norse Options v1.9. was delivered on time on target in September 2006.

The upgrade includes three new functions;

• Share Savings and contribution module where employees may save a specified amount each month and buy shares in the company with a given contribution/matching from the Company at given intervals e.g. every sixth month.
• Purchase of Subscription Rights from employee module and all administrative routines related to this.
• Exercise of Synthetic Options as well as Equity Settled SARs.

There are also several new improvements and changes. Some of these include:

• Stock quotes are now updated automatically at Client request and from requested source
• Possible to change code if employee is an insider or not in the exercise module
• New routine to compute new exercise prices on split or reverse split of Shares
• Now possible to search on employee category and insiders in Grants overview

(2. May 2006)

Our office in Houston, Texas, was opened on the 2nd of May 2006.

(31. January 2006)

Norse Options v1.8. was delivered on time 31st of January 2006.

The upgrade includes a strengthening of the security features as well as a new Related Parties Share Holders (REPASH) module, for tracking of information on insiders (members of Board, General Assembley and Management etc) and their related parties share holdings according to the requirements by SEC and OSE. A new and updated version of the user-manual as well as improved online-help is also included in the v1.8 upgrade.

(Desember 2005)

Norse Options v1.7. Updated

With a mid-life upgrade where we pre-launch SSL- encryption (https) - secure. This was planned to be included in version 1.8., but is now already operational in v1.7.5.

(Desember 2005)

Norse Solutions is expanding

We are now hiring more people in Norway, and are planning to start up an office in Houston by end of 1st half 2006.

(October 2005)

Our customers in Norway now represent more than 60% of the value of the Oslo Stock Exchange.

(30. June 2005)

Version 1.7 was launched on the 30th of June 2005 according to plan.

The new version includes various improvements:

• Improved interaction design in the options-exercise module
• More flexibility in choices for optionees when exercising options -all exercise is electronic without use of paper-forms of any kind;
1. Pay share deposit and receive shares
2. Cashless exercise (bridge-finance and handling is carried out through our co-operation with DnB NOR ASA) with remuneration directly transferred to optionees account
3. As 2, but the employee may choose to retain some shares and get the rest paid out "in cash"
• Reporting module has been upgraded to include more flexibility in generating reports

(January 2005)

The EU Comission adopts the new IFRS-2

You can read more about this by clicking here

(January 2005)

Release of Norse Options version 1.6.

We released version 1.6 in January 2005 with Cashless exercise module and Online help as the main new features.

(October 2004)

Co-operation agreement with the largest bank in Norway.

After more than 8 months of development, structuring and planning of an exercise module, we were able to enter into an agreement with DnB NOR ASA, the largest bank in Norway, in order to co-operate on exercise and settlement of options.

Together, we have developed a smooth solution for effective, secure and flexible exercise and settlement of options and other share-based payment instruments. The "cashless exercise" is carried out electronically in Norse Options and has now been run "live" with excellent results.

(September 2004)

Release of Norse Options version1.5.

We relased version 1.5 in August 2004. The new version includes a new Budgeting and Simulation module as well as a wide range of upgrades to the interaction design to ensure quicker and more efficient use of the system.

(February 2004)

New IFRS standard - IFRS-2

The International Accounting Standards Board (IASB) issued on the 19th of February the new International Financial Reporting Standard 2 Share-based Payment (IFRS 2) on accounting for share-based payment transactions, including grants of share options to employees.

For more information, go to IASB"s homepage or contact us at Norse Solutions.

(October 2011)

Hoogervorst challenges IFRS convergence fears

Read newsletter (pdf) - Online newsletter

(July 2011)

Norwegian Air Shuttle - GEO Awards Winner 2011

Read newsletter (pdf) - Online newsletter

(May 2011)

Norse Solutions sponsors the GEO Conference in Amsterdam June 15th to 17th June 2011

Read newsletter (pdf) - Online newsletter

(March 2011)

Could a Stock Exchange Merger Accelerate Adoption of IFRS?

Read newsletter (pdf) - Online newsletter

(June 2010)

In April this year Norse Solutions exhibited and had the opportunity to speak at the annual Global Equity Organization (GEO) Conference in Chicago as well as exhibiting at the Financial Executives International (FEI) Conference in Las Vegas.

Read newsletter (pdf) - Online newsletter