In the General meeting 25 May 2016, the Directors were given a Power of Attorney to acquire up to 10 % of the Company’s shares, pursuant to the provisions of chapter 9. II in the Norwegian Public Limited Companies Act.
The highest nominal value of shares that may be acquired pursuant to this power of attorney is NOK 22,210,269.00.
The lowest amount that can be paid is NOK 1, and the highest amount NOK 100 per share.
Within the limits of the law, the Board of Directors are granted Power of Attorney to decide the manner in which the purchase and sale of own shares can take place, taking due account of the principle of equanimity whereby no-one shall derive particular or special advantage from such acquisitions.
The power of attorney is valid until GM in 2017, no later however than 30 June 2017.
This proposal has in main been made on the grounds that own shares can, based on requirement, be used as a form of payment for potential acquisitions of other companies and similar.