The Annual General Meeting (AGM) is the Company’s supreme body. According to the Articles of Association, the AGM is to be held by the end of June every year.
The notice of the meeting and the resolutions with supporting documentation, including the recommendations of the Nomination Committee, are sent to the shareholders no later than three weeks prior to the date of the General Meeting. Shareholders who cannot attend the meeting may vote by proxy. Information about the procedures the shareholder must observe in order to participate and vote is given together with the notice of the meeting. The shareholder also receives a form for appointment of a proxy. Efforts are being made to set the deadline for participation close to the meeting date. The Chairman of the Board and some of the Board members and the members of the Nomination Committee are normally
present at the Annual General Meeting. The auditor is also present. The Chairman of the Board has acted as chairman of the general meetings.
So far the Company has not complied with all the recommendations in the Code of Practice in relation to the AGM.
The Board aims to fulfill the following requirements from 2009:
- Ensure that all relevant information related to the AGM will be made available on the website a minimum of three weeks prior to the General Meeting.
- Ensure that the shareholders are given information about how to propose resolutions in respect of matters to be dealt with at the AGM.
- Make arrangements to ensure the election of an independent chairman of the General Meeting.
- Ensure that the shareholders are given the opportunity to vote separately for each candidate nominated for election.
- Open up the proxy form for use of proxy on each item on the agenda.
- Encourage all Board members to be present at the AGM.