Q-FREE - MINUTES OF THE ANNUAL GENERAL MEETING 2011
Q-Free ASA held its ordinary Annual General Meeting in Trondheim on the 19th of May 2011 at 16:00 pm.
The Board of Director's annual report and the annual accounts for 2010 were approved unanimously. It was resolved that no dividends will be distributed for the financial year 2010.
Charlotte Brogren and Terje Christoffersen were elected as members of the Board of Directors.
The Board of Directors will, according to thiselection, have the following composition:
Ole Jørgen Fredriksen (Chairman)
Mimi Kristine Berdal
Jan Pihl Grimnes
Charlotte Brogren
Terje Christoffersen
Sissel Lillevik Larsen (Employee elected)
Frank Aune (Employee elected)
The Annual General Meeting approved the following Board Authorisations:
Authorisation to increase the share capital by the subscription of new shares in connection with incentive programme towards key employees up to 3.49% of the share capital. The authorization will be in force until the 31st of June 2012.
A translation into English of the Minutes of the Annual General Meeting is enclosed.
Trondheim 19th of May 2011.
For further information, please contact:
CEO Øyvind Isaksen, cell: +47 905 59 401
CFO Roar Østbø, cell: +47 932 45 175
About Q-Free
Q-Free is a leading global supplier of solutions and products for Road User Charging and Traffic Surveillance having applications mainly within electronic toll collection for road financing, congestion charging, truck-tolling, law enforcement and parking/access control. Q-Free offers solutions and products based on state of the art technology, and is the leading supplier within DSRC (tag) - and ALPR (Automatic License Plate Registration) and GNSS (Global Navigation Satellite System) based solutions, with deliveries in Europe, Asia-Pacific, Middle East and North- and South America. The company has appr. 275employees and is represented in 17 countries. Headquarter is based in Trondheim, Norway. Q-Free is listed on the Oslo Stock Exchange with the ticker QFR. http://www.q-free.com