Extraordinary General Meeting Announced at Kaldvik AS
Kaldvik AS, a company known for its strategic acquisitions, is responding to a significant shareholder request. Shareholders representing approximately 30% of the Company's equity have officially submitted a request for an extraordinary general meeting. This meeting will address proposals for an inquiry into a recent transaction involving several subsidiaries.
The Proposed Investigation
The core of the proposal focuses on an investigation concerning the agreement between Kaldvik AS, Heimstø AS, and Osval ehf. This agreement led to the acquisition of 100% of Mossi ehf. and Djupskel ehf., along with a 33.3% stake in Bulandstindur ehf. This deal was finalized on March 25, 2025, after which shareholders were briefed during a meeting on March 24, 2025. The shareholders are seeking further information about the valuations and due diligence reports associated with this transaction.
Details of the Acquisition
The acquisition of the mentioned companies has raised questions that need addressing. Shareholders are particularly interested in understanding how the valuations were determined and the depth of the due diligence performed before proceeding with the agreement. This highlights the importance of transparency in corporate governance, especially in transactions of such magnitude.
Response from Management
Kaldvik AS is committed to adhering to regulatory guidelines as it prepares for the extraordinary general meeting. According to the Norwegian Private Limited Companies Act, if at least 10% of the voting shareholders support the investigation at the meeting, an inquiry will be launched. The management acknowledges the concern and is prepared to provide the needed information to shareholders.
Next Steps and Obligations
The extraordinary general meeting will be scheduled in accordance with the stipulated legal requirements. Kaldvik AS is dedicated to ensuring that shareholders have the opportunity to voice their opinions and to seek clarifications regarding this significant transaction.
Potential Outcomes of the Investigation
Should the investigation commence, the results may be complex. It is challenging to predict precisely what the investigation might uncover regarding the original agreements. Kaldvik AS is committed to operating with integrity and transparency, ensuring that all shareholder concerns are addressed.
Company Contacts
For any inquiries regarding the upcoming extraordinary general meeting or the recent acquisitions, shareholders can reach out to the following executives:
Roy Tore Rikardsen, CEO of Kaldvik AS
Contact: +354 791 0006 (mobile), roy.tore@kaldvik.is
Róbert Róbertsson, CFO of Kaldvik AS
Contact: +354 843 0086 (mobile), robert.robertsson@kaldvik.is
Frequently Asked Questions
What is the reason for the extraordinary general meeting?
Shareholders are requesting an investigation into a recent acquisition agreement that raised concerns regarding valuations and due diligence.
What companies were involved in the acquisition?
The agreement involved Mossi ehf., Djupskel ehf., and Bulandstindur ehf.
What happens if a majority supports the investigation?
If 10% or more of shareholders vote in favor, an investigation will commence.
How can shareholders participate in the meeting?
Details regarding the extraordinary general meeting will be communicated in compliance with legal requirements.
Who are the key contacts at Kaldvik AS?
Roy Tore Rikardsen (CEO) and Róbert Róbertsson (CFO) are available for inquiries regarding the meeting and acquisitions.
