Badger Explorer ASA - Further Information Regarding the Notice of the Company’s Annual General Meeting
Some of the shareholders have contacted the Board of Directors of Badger Explorer ASA regarding the notice of the Company's Annual General Meeting (AGM) for the fiscal year 2015 concerning the election of members to the Nomination Committee. The Board would like to clarify that, according to the Norwegian Code of Practice for Corporate Governance, one of the tasks for the Nomination Committee is to propose to the AGM the members for the Nomination Committee:
“The independence of the nomination committee from the company's board of directors and executive management dictates that candidates for election to the nomination committee should be put forward by the nomination committee itself.”
As one can see, the Nomination Committee is also independent of the Board of the Company. The task for the Board of the Company in this relation is to secure that the proposal from the Nomination Committee is included in the notice of the AGM. The members of the Nomination Committee are then elected after shareholders have voted at the AGM.
The proposal from the Nomination Committee for the AGM is:
The Nomination Committee proposes to reduce the members from three to two members to be elected:
• Rolf E. Ahlqvist (Chairman), re-elected until AGM in 2018
• Knut Åm (Committee member), re-elected until AGM in 2018.
The third Committee member, Richard Urbanski, has resigned from the Nomination Committee.
Also shareholders have a right to propose candidates, both before the notice for the AGM is sent out, but also at the AGM itself. It is then up to the AGM to elect the Nomination Committee.
For further information, please contact:
Marcus Hansson, Chairman of the Board, Badger Explorer ASA, cell phone +44 782 446 0691