GENERAL MEETING - ACCOUNTS AND DIVIDEND FOR 1999 AND ELECTIONS
Of the 81.586.536 shares registered for the meeting, 60.865.936 were A Class shares with voting rights and 20.720.600 B Class shares.
The accounts for 1999 were unanimously decided upon. Shareholders will receive a dividend of NOK 1,20 per share. The dividend will be paid out on 25. May 2000.
The shareholders meeting also approved the Auditors fee for 1999. It was decided that the compensation for the officers of the Corporate Assembly should be held unchanged from 1999.
The proposal from the Board of directors to be able to purchase Hafslund B-shares was approved by the General Meeting. The highest face value of the share bye back program is NOK 11.463.420, equivalent to 10% of the total outstanding shares.
The proposal from the nominee committee, Hans Halvorsen, Ragnar Søegaard og Olaug Svarva was re-elected as members of the corporate assembly for a period of two years, and Hans Erik Horn and Tor-Odd Berntsen were elected ad new members of the corporate assembly. After a counterproposal from Oslo Energi Holding Gunn Oland and Reidar Leiro were elected with 32.935.033 of the votes as new members of the corporate assembly for a period of one year. Anni Blakstad and Svein R. Hagen, the nominee comities proposal got 27.930.025 of the votes
As substitutes for the corporate assembly, Christian Furuholmen, Ellen Christine Christiansen, Annie Blakstad, Svein R. Hagen and Matz Fagerlund were elected.
The general meeting elected Øyvind Refsnes and Karl Johan Thorsen as new members of the nominee comity. Borger A. Lenth resigned from the nominee comity during the general meeting.
During the general meeting the chairman of the board Johan Fredrik Odfjell and the board member Finn Kristensen informed that they resigned from the Board, as a result of the declined merger proposal with Elkem Energy. In addition the chairman of the corporate assembly referred to letters from the board members Arne Norheim and Terje Thon, who announced that they resigned from the Board, with the same arguments as above mentioned.