STB - Annual General Meeting of Storebrand ASA - 23 April 2008
he General Meeting passed the following resolutions:
Agenda Item 6: Presentation of the 2007 results, and approval of the company's annual accounts and annual report
Resolution
"The proposed Annual report and Annual Accounts for Storebrand ASA and the Storebrand Group for 2007 submitted by the Board of Directors is adopted as the Annual report and Annual Accounts for Storebrand ASA and the Storebrand Group for 2007.
A dividend of NOK 1.20 per share will be paid for 2007, except for the company's holdings of own shares. The dividend will be paid on 6 May 2008."
Agenda item 7: Statement by the Board of Directors on the salary and other remuneration of senior executives
Resolution
"The Annual General Meeting hereby ratifies the Board's statement on the salary and other remuneration of senior executives and approves the aspects of the guidelines that apply to remuneration as mentioned in § 6-16a, first paragraph, third sentence, item 3, of the Public Limited Liability Companies Act, hereunder the long term incentive scheme for senior executives"
Agenda item 8: Proposed mandate to buy back the company's own shares
Resolution
"The Annual General Meeting hereby grants a mandate to allow the company to acquire shares in Storebrand ASA of total nominal value NOK 224,954,945, subject to the total holding of shares not exceeding 10% of the company's share capital at any time.
The lowest and highest price per share that will be permitted will be NOK 5 and NOK 150 respectively. The Board of Directors of Storebrand ASA will be free to buy and sell shares in such manner as it considers appropriate, while adhering to the general principles of equal treatment for all shareholders.
If the company sells own shares, the mandate shall apply to the purchase of new shares to replace the shares sold subject to the total holding of own shares not exceeding 10% of the total share capital. This mandate shall be valid until the date of the next Annual General Meeting."
Agenda item 9: Election of members and deputy to the Board of Representatives
Resolution
"The following persons are elected as members to the Board of Representatives:
Terje R Venold
Inger Lise Gjørv
Arvid Grundekjøn
Olaug Svarva
Lydur Gudmindsson
Marius Steen
The following person is elected as deputy member to the Board of Representatives:
Trond Berger"
Agenda item 10: Election of members to the Election Committee
Resolution
"The following persons are elected as members to the Election Committee:
Dag J. Opedal
Johan H. Andresen jr.
Olaug Svarva"
Agenda item 11: Election of members and deputy member to the Control Committee
Resolution
"The following persons are elected as members to the Control Committee:
Elisabeth Wille (chair)
Ida Hjort Kraby
The following person is elected as deputy member to the Control Committee:
Erling Naper"
Agenda item 12: Remuneration to members of the Control Committee and the Election Committee
Resolution
"The remuneration paid to members of the Control Committee is set at:
- Chair NOK 230,000 (currently NOK 200,000)
- Members NOK 180,000 (currently NOK 160,000)
- Deputy members NOK 180,000 (currently NOK 160,000)
(Additional remuneration of NOK 5,000 for the chairman and NOK 4,000 for other members for meetings above eight meetings in a calendar year.)
The remuneration paid to members of the Election Committee is set at:
- Chair NOK 6,000 per meeting, (currently NOK 5,000)
- Members NOK 4,000 per meeting, (currently NOK 3,000)"
Agenda item 13: Changes to the Articles of Association
Resolution
"Article 2-2 of the Articles of Association is hereby amended as follows:
The Board of Directors shall consist of 9 or 10 directors without deputies. 6 or 7 directors shall be elected by the Board of Representatives for a one (1) year term of office. 3 directors shall be elected by and from among the employees for a two (2) year term of office in accordance with specific rules.
Article 2-7, second alinea, of the Articles of Association is hereby amended as follows:
The Annual General Meeting shall be convened by the Chairman of the Board of Representatives. The notice calling an Annual General Meeting shall be sent to all shareholders whose address is known no later than two weeks before the meeting is to be held.
Article 1-2 of the Articles of Association is hereby amended as follows:
The object of the company is, as the parent company of a financial business group, to manage its equity interests in the Group in accordance with the Norwegian Financial Institutions Act.
Article 1-4, first alinea, of the Articles of Association is hereby amended as follows:
All acquisitions of shares shall be notified to the securities register with which the company's shares are registered."
Agenda item 14: Approval of Auditors remuneration
Resolution
"The auditor's fee for auditing Storebrand ASA in 2007 is set at NOK 950,000."
Oslo, 23 April 2008