The nomination committee’s recommendations to the general meeting of Agasti Holding ASA

The nomination committee’s recommendations to the general meeting of Agasti Holding ASA regarding the composition of the nomination committee and the Board of Directors

The nomination committee of Agasti Holding ASA consists of Steinar Olsen, Ulf-Einar Staalesen and Nils A. Foldal, of which the latter is the nomination committee’s chairman.

The committee regards its most important task as finding board candidates that are regarded as having the necessary competence and capacity to carry out the tasks required of a board of directors. The nomination committee has also aimed to compose the board of persons with a willingness and ability to collaborate. The nomination committee’s work is regulated by the guidelines for the nomination committee of Agasti Holding ASA, adopted at the general meeting of 26 June 2013.

The current board members were elected at last year’s two general meetings, held on 26 June 2013 and 29 November 2013 respectively, and the term of office for board members is two years. Consequently, no members of the board are up for election. On the basis of extensive changes to the company’s shareholder structure since the previous election, and following suggestions from the company’s largest shareholders, the nomination committee proposes that changes be made to the composition of the board, and the entire current board will therefore be up for election. In addition, the current board does not currently fulfil statutory requirements regarding gender composition, since three of the four board members are women.

In accordance with the company’s Articles of Association, the board shall consist of three to seven members.

The nomination committee recommends that the Board of Directors be composed as follows:

1. John Høsteland, Chairman of the Board (new)
2. Jon Bjørstad, Board Member (new)
3. Erling Meinich-Bache, Board Member
4. Beatriz Malo de Molina, Board Member
5. Ellen Merethe Hanetho, Board Member (new)
6. Trond Vernegg, Board Member (new)
7. Kristin Louise Abrahamsen Wilhelmsen, Board Member (new)

The nomination committee would like to thank outgoing board members Merete Haugli and Sissel Knutsen Hegdal for their hard work throughout a demanding period for the company.

Short CVs for each of the new board candidates are enclosed to this stock exchange notice.

All members of the nomination committee were elected at last year’s general meeting. Since the term of office for members of the nomination committee is two years, none of the members are up for election. On the basis of extensive changes to the company’s shareholder structure since the previous election, the nomination committee proposes that changes are made to the composition of the nomination committee.

In accordance with the company’s Articles of Association, the nomination committee shall consist of three to five members.

It is proposed that the nomination committee consist of:

1. Ove Steinar Larsen, Chairman (new)
2. Truls Foss, Member (new)
3. Eirik Iversen, Member (new)

Short CVs for each of the new candidates for the nomination committee are enclosed to this stock exchange notice.

Oslo, 9 June 2014

Nils A. Foldal (sign.)
Chairman of the nomination committee

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.