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 2020 was approved by the general meeting.

The annual general meeting re-elected Merete Haugli as Chair, Bjørn Henningsen as Deputy Chair, Kathrine Astrup Fredriksen, Cecilie Astrup Fredriksen, Lars Erich Nilsen, Carl Erik Krefting and Anders Buchardt as ordinary board members for a period until the annual general meeting in 2022.

The members of the nomination committee were not up for election.

The General Meeting approved the new guidelines for remuneration of senior executives.

The board of directors was granted a power of attorney to increase the share capital by up to NOK 32,490,000 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 840,000,000 in total. If the power of attorney is used, the company’s share capital may be increased by up to NOK 32,490,000. 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 32,490,000, 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 2020.

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:
Bent Oustad, CEO,
tel. +47 480 16 082
Email: bo@npro.no

Norwegian Property is a focused and fully integrated office property company with properties located mainly in the Oslo area in Norway. The portfolio is characterized by central location and attractive premises with 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.

www.npro.no