NPRO: ANNUAL GENERAL MEETING HELD IN NORWEGIAN PROPERTY ASA
Norwegian Property ASA has today held its annual general meeting. All matters were resolved as proposed in the notice.
The board of directors’ proposal to the annual accounts and the annual report for Norwegian Property ASA for the financial year 2016 was approved by the general meeting.
The annual general meeting re-elected Martin Mæland (Chair), Bjørn Henningsen (Deputy Chair), Kjell Sagstad, Kathrine Astrup Fredriksen, Cecilie Astrup Fredriksen and Merete Haugli as ordinary board members for a period until the annual general meeting in 2018. Lars Erich Nilsen was elected as a new ordinary board member for a period until the annual general meeting in 2018.
The annual general meeting re-elected Robin Bakken and Marianne E. Johnsen as Chair and member of the Nomination Committee, respectively for a period of two years.
The board of directors was granted a power of attorney to increase the share capital by up to NOK 27,420,000 by subscription of new shares, equivalent to just below 10 per cent of the current share capital. In addition, the board of directors was granted a power of attorney to raise a convertible loan of NOK 750,000,000 in total. If the power of attorney is used, the company’s share capital may be increased by up to NOK 27,420,000. The board of directors’ use of powers of attorney granted by the annual general meeting to issue new shares shall in total not exceed 10 per cent of the share capital.
In addition, the board of directors was granted a power of attorney to purchase own shares with a total nominal value of up to NOK 27,420,000, which is equivalent to just below 10 per cent of the current share capital. The board was also granted a power of attorney to resolve to distribute dividend on the basis on the company’s annual accounts for 2016.
Attached is an unofficial office translation of the minutes of the annual general meeting.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
For additional information, please contact:
Svein Hov Skjelle, CEO,
tel. +47 930 55 566
Norwegian Property is a focused and fully integrated office property company with 32 properties located in the Oslo area and Stavanger in Norway. The portfolio, which has a total fair value of NOK 14.1 billion, is characterized by central location and attractive premises high quality tenants. The group’s properties consist largely of office premises, associated warehousing and car parking, as well as retail and catering space. The company has identified four value drivers for long-term value creation; Marketing & letting, Property management, Property development and Transactions & finance.
Norwegian Property is listed on Oslo Stock Exchange with the ticker NPRO.