Scatec ASA: Subscriptions for the Employee Share Purchase Programme 2025
The price per share has been set at NOK 89.45, based on the average volume-weighted share price on the Oslo Stock Exchange over the last five trading days during the subscription period.
In total, employees have subscribed for 68,533 shares under the share purchase programme. The allocation of shares and delivery to employees is expected to take place by 4 July 2025.
See attachment for an overview of the number of shares to be allocated to primary insiders who have subscribed as per end of the subscription period, as well as the notifications of the transactions in accordance with the Market Abuse Regulation Article 19.
For further information, please contact:Andreas Austrell, SVP IRandreas.austrell@scatec.com+47 974 38 686
About Scatec Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy in emerging markets. As a long-term player, we develop, build, own, and operate renewable energy plants, with 6.2 GW in operation and under construction across five continents today. We are committed to grow our renewable energy capacity, delivered by our passionate employees and partners who are driven by a common vision of 'Improving our Future'. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'SCATC'. To learn more, visit www.scatec.com or connect with us on LinkedIn.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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Primary insiders subscription - Scatec
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San Francisco Chronicle
34 minutes ago
- San Francisco Chronicle
He left fine dining to make sandwiches. Now, his popular Bay Area shop is expanding
Since leaving the fine dining world behind, an alum of San Francisco's Michelin-starred Californios and Lazy Bear has quietly made a name for himself with a surprising specialty in an unlikely location: deli sandwiches in a gym. Raul Lopez's sandwich counter, the Local, has thrived since opening three years ago in Wine Country — despite being difficult to find. Sandwich seekers must drive through a maze of Petaluma office parks and past Lagunitas Brewing to the Active Wellness Center. There's no signage indicating that the Local is inside, tucked between the check-in desk and the pool deck. 'You gotta know,' said Chris Osborne, co-owner of the Local. 'It's as far north and as far east as Petaluma gets. You have to cross many barriers to find us.' Location notwithstanding, the Local has grown into one of Sonoma County's hottest fast-casual lunch spots, and now, it's growing. Set to open Aug. 18, the Local's second Petaluma location (229 N. McDowell Blvd.) will offer more space, an expanded menu and, most notably, convenience. A Petaluma native, Lopez was working at Californios when the COVID-19 pandemic forced the restaurant to temporarily close. 'For about a year and a half, I was out of the industry,' he said. 'I never thought I'd go back to it unless I owned my own space.' A cousin told him that the gym was leasing a spot, but it was tiny — just 160 square feet — and the kitchen was extremely basic. The only pieces of cooking equipment were a panini press and a countertop oven. Sandwiches seemed like the best option, said Lopez, who was adamant that he'd still apply his fine dining training to his menu by, for example, vacuum sealing fruits and vegetables in their juices to 'give them more flavor.' In his view, most Petaluma sandwich shops use 'mass-produced' ingredients, while Lopez has established close relationships with local farmers and only uses what's in season, making do without common sandwich ingredients, like tomatoes and pesto, during certain times of the year. For the first couple of months, the Local 'relied on gym traffic,' said Osborne, who met Lopez years ago when they were both working at a restaurant in Petaluma. But word of Lopez's sandwiches — often named after Sonoma County geographical landmarks, like the Petaluma, the 101 and Adobe Road — quickly spread. The Local's clientele grew beyond red-faced gym rats and hungry kids in bathing suits, dripping a trail of water from the pool. By the time the shop hit the five-month mark, a majority of its traffic was coming from outside the gym. 'We're a trek to get to, but people still find us six days a week, and we're busy all six days,' Osborne said. Lopez has made his corner of the gym work, but the new location — at a busy shopping center alongside a Starbucks, a bagel shop and a frozen yogurt spot — brings new possibilities. The space is nearly 10 times the size of the original. It has a full kitchen, including dry storage and a walk-in freezer. A new bread station will enable the Local to make sandwich breads in-house, though it will still source some from Petaluma's famed Della Fattoria bakery. Lopez said he'll finally have the tools to experiment with more high-end techniques, like water baths for a precise cook and foams to add new textures and flavors. 'Everything we've done we've had to do under these extreme conditions,' Osborne said of the original space. '(Raul) will now have all the equipment and toys that his heart can desire.' The expanded menu will break the sandwiches (also available as wraps) into two tiers: classic ($13) and specialty ($17). The classics all have a fancy twist, like a BLT with Havarti, avocado and Carolina barbecue aioli, or the pastrami sandwich with chimichurri, Fresno chile hot sauce and pickled mustard seed aioli. New specialty sandwiches include the Bodega Bay, a soft roll topped with braised chicken thigh, pickled vegetables, pepper jack and chile lime aioli. The Gold Coast, another newcomer, integrates bacon jam and Carolina barbecue aioli with chicken breast. Lopez said he's 'big on using the whole animal and having minimal waste,' which means using parts of a whole chicken for multiple sandwiches, including roasting the bones for sauces. The Local offers an unusually robust selection of vegetarian options, like the Helen Putnam; named after Petaluma's first female mayor, it features roasted beet hummus and artichoke hearts. 'When I thought about opening a sandwich shop, I ate at a bunch, and every time I got to the vegetarian menu, I realized there were only one or two options,' Lopez said. 'I was vegetarian for (a few) years, and working in fine dining, I learned a lot of cool techniques when it comes to vegetables.' The shop can accommodate most dietary restrictions — another takeaway from Lopez's years spent in Michelin-starred kitchens. The Local sources gluten-free bread from Mama Mel's in Petaluma and makes pestos without nuts or dairy. Like the gym counter, the new location will offer smoothies ($10-$12) and salads (from $13). Lopez has added a new section for seasonal bowls ($15), like a polenta bowl with braised chicken, fermented carrots, roasted broccolini and salsa verde. Drinks include specialty sodas, aguas frescas and shrubs. The menu will continue to grow over time, Lopez said, as he envisions adding flatbreads and sides, such as housemade potato chips and potato salad. The Local will be open Monday-Friday from 10:30 a.m. to 6 p.m., but Lopez has ambitions for a future dinner concept after hours that's closer to his fine dining roots. The new spot's interior is also a major upgrade from the gym's inconspicuous counter: Bright and minimalist, it features wood paneling, a classic sandwich board menu and fancy picnic tables, plus plants and flowers for decor. Windows provide a view into the kitchen and a side patio has additional seating. 'We're trying to make everything a little more elevated,' said Osborne. 'We wanted the dining area to match the food.' The Local. Opens Aug. 18. 229 N. McDowell Blvd., Petaluma.

Epoch Times
2 hours ago
- Epoch Times
Australia Opens New PNG Naval Base Amid $300 Million Cost Blowout
Australian taxpayers have footed a $500 million redevelopment bill for Papua New Guinea's (PNG) Lombrum Naval Base—over double the $175 million price tag initially announced by the previous Liberal-National government in 2018. Labor's Defence Minister Richard Marles confirmed the blowout during a rain-soaked opening ceremony on Manus Island alongside PNG Prime Minister James Marape. The expansion, now officially His Majesty's Papua New Guinea Naval Base (HMPNGS) Tarangau sits north of mainland PNG and is the largest security infrastructure project Australia has delivered in the region The project's inflated cost was partly due to the elongated delivery timeline. 'There have been a number of factors which have led to the cost, and part of that is the time that has been taken to deliver the project,' Marles told the ABC. He cited COVID-19 disruptions and landowner disputes as key causes for the delay. 'But ultimately we're really pleased with what has been delivered—at $500 million this is the biggest infrastructure project that Australia has ever undertaken in the Pacific,' he added. The redeveloped base includes new working and living accommodation for the PNG Defence Force (PNGDF) and a medical centre for the base and surrounding community. It also features upgraded water and sewerage systems, enhanced maritime infrastructure, and combined mess facilities for about 200 personnel. A government statement says the facility will significantly expand PNG's sovereign defence capabilities and allow greater cooperation with Australia through joint training exercises.


Newsweek
3 hours ago
- Newsweek
US Hits Highest Layoffs Since COVID
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. U.S. layoffs surged in July to their highest level since the early months of the COVID-19 pandemic. In July, there were 62,075 job cuts announced, according to a report by outplacement firm Challenger, Gray & Christmas. That's a 29 percent jump from June and 140 percent higher than the 25,885 announced in July 2024. The July figure is well above the post-pandemic average for the month (23,584 between 2021 and 2024) and slightly higher than the past decade's July average of 60,398. It pushes the 2025 total to 806,383 layoffs—a 75 percent increase compared with the same period last year and already 6 percent higher than all of 2024. It's the highest January-to-July figure since 2020, when pandemic shutdowns drove layoffs above 1.8 million. The surge in layoffs in 2025 is due to a mix of government downsizing, corporate restructuring and the growing effects of artificial intelligence. Public agencies, tech firms and retailers are leading the cuts. "We are seeing the federal budget cuts implemented by DOGE impact nonprofits and health care in addition to the government. AI was cited for over 10,000 cuts last month, and tariff concerns have impacted nearly 6,000 jobs this year," said Andrew Challenger, a senior vice president and labor expert at Challenger, Gray & Christmas. Stock image/file photo: a laid off worker with a box of his things. Stock image/file photo: a laid off worker with a box of his things. GETTY Where Are the Layoffs Happening? The majority of layoffs this year have been from the federal government—a total of 292,294 since the year started—as President Donald Trump's Department of Government Efficiency (DOGE) continues its mission to scale down the size of numerous agencies. There have also been knock-on effects for contractors and organizations reliant on public funding, which the report calls the "DOGE Downstream Impact." Private sector cuts have been concentrated in industries under structural pressure. Technology and telecom firms are reducing head count as they shift investment toward AI and cloud infrastructure. Retailers have been hit by softer discretionary spending, higher costs and changing consumer habits, prompting store closures. Other sectors above historical layoff norms include finance, business services and transportation, where companies are scaling back capacity after pandemic-era expansions. Reasons Behind the Cuts Economic conditions—including inflation, shifting demand and global uncertainty—have been cited in more than 170,000 job cuts so far this year. Business restructuring, store or plant closures, and bankruptcies have also played a major role. Fabian Stephany, an assistant professor for AI and work at the University of Oxford, told Newsweek the current wave of layoffs was best understood as a combination of "late-cycle cost discipline and post-pandemic normalization," rather than a sign of a full-scale employment downturn. "Many firms are correcting for the overhiring of 2021 to 2022 while protecting margins through productivity gains, some of which are enabled by automation," he said. Technological change is another driver. Automation and AI have been linked to more than 20,000 layoffs in 2025, with another 10,000 explicitly attributed to AI. Stephany said AI's immediate effects were most visible in "transactional, routine, and standardized work—particularly in junior roles." Jason Leverant, the COO and president of AtWork Group, told Newsweek that automation tended to hit jobs that fell into what he called the "Three D's": dull, dirty or dangerous. Many white-collar positions in the "dull" category are already being replaced by AI tools. Both Leverant and Stephany said AI would keep reshaping the labor market this year. "The likely path is steady, incremental reshaping of roles through attrition and slower hiring, rather than sharp spikes in AI-related layoffs," Stephany said. Labor Market Outlook Despite the scale of layoffs, unemployment remains in the low 4 percent range, suggesting that many displaced workers are having luck finding new roles. But Leverant said that not all workers were likely to transition quickly. "I expect to see extended periods of unemployment for people in middle-management and highly specialized roles where openings are much more limited," he said. If cuts continue at the current pace, unemployment could edge higher later this year. Leverant said that while the concentration of layoffs in the government sector gave him some confidence in the health of private sector hiring, "if job cuts continue and the unemployment rate rises, it will only spark further concern, uncertainty, and potential volatility in the markets, creating a vicious cycle that we need to break."