Summons for the Annual General Meeting of P/F Atlantic Petroleum
The Annual General Meeting of P/F Atlantic Petroleum is officially called, and it promises to be an essential gathering for shareholders. The meeting is set to take place at Advokatfelagið, located at Lucas Debesargøta 8, 100 Tórshavn, bringing together key members of the company and shareholders alike.
Agenda Items for Discussion
This year's agenda is packed with crucial items that will shape the future of P/F Atlantic Petroleum:
Chairman Election
The first order of business will be the election of the Chairman of the Meeting, which sets the tone for the proceedings to follow.
Company Activities Overview
Next, the Board of Directors will present a detailed statement regarding the company's activities over the previous accounting year. This review will provide insights into the company’s operations and strategic direction.
Annual Accounts Presentation
Following the activity report, there will be a presentation of the audited Annual Accounts for approval. During this session, the board will also seek approval for the remuneration of board members in 2024 and 2025, noting that:
The proposal indicates that in 2024, the remuneration for board members will be set at DKK 175,000. For 2025, the basic remuneration will be established at DKK 60,000, with differentiated amounts for chairman, deputy chairman, and other members, designed to reflect their varying responsibilities.
Profit Allocation Review
In addition to the financial presentations, shareholders will discuss how the company’s profits will be used or if any losses will be covered according to the approved accounts and annual report. The board is expected to suggest that profits be carried over to the following year.
Election of Board Members
You can look forward to the election of three members for the Board of Directors, an essential move that will help steer the company in the year ahead. Current nominees include:
- Ben Arabo, Chairman of the Board
- Mourits Joensen, Deputy Chairman
- Mark T. Højgaard, Board Member
All proposed candidates have expressed their acceptance to serve if elected.
Appointment of Audit Committee
The shareholders will also address the election of an auditor, whose role is vital for ensuring transparency and accountability in financial reporting. The current auditor, P/F Januar løggilt grannskoðaravirki, is on the table for re-election for another term.
Additional Business Matters
Under the agenda item of Any Other Business (AOB), shareholders may raise further discussions relevant to the company’s operations and strategies.
Participation Instructions
It is crucial for shareholders to participate in the General Meeting, and to ensure their voting rights align with their shareholdings. The register date for determining eligibility to vote will be Friday, and admission and voting instructions will be communicated well in advance. Shareholders or their proxies must notify the company of their intention to attend by provided deadlines.
Information for Shareholders
Documentation pertinent to the General Meeting, including the Annual Accounts and detailed agenda, will be made available at the company’s office and on the official website.
Contact and Proxy Voting
Shareholders unable to attend the meeting can appoint a proxy to represent them. Proxy forms and voting instructions will be available on the company's website.
The voting session will occur during the General Meeting, while those wishing to participate via letter ballots can submit their votes prior to the event.
Conclusion and Call to Action
As we approach the Annual General Meeting, it is a pivotal moment for P/F Atlantic Petroleum. All shareholders are encouraged to participate actively to shape the future of the company.
Frequently Asked Questions
What is the date and time of the Annual General Meeting?
The Annual General Meeting is scheduled for Friday, 23rd May 2025, at 15:00 Faroese time.
Where will the General Meeting be held?
The meeting will take place at Advokatfelagið, Lucas Debesargøta 8, 100 Tórshavn.
How can I participate in the voting process?
Shareholders need to notify the company about their intention to attend, either in person or via proxy, to participate and vote.
What are the main items on the agenda?
The agenda includes the election of board members, presentation of financial statements, and proposals regarding remuneration.
Where can I find more information about the nominees for the Board?
More information about the nominees is available on the company’s official website.
