Aker Carbon Capture ASA's Call for Extraordinary Meeting Insights
Aker Carbon Capture ASA's Call for Extraordinary Meeting Insights
The board of directors of Aker Carbon Capture ASA (under liquidation) has received a significant notice from Andreas Møller, representing A. Møller Invest AS and other shareholders, totaling over 5% of the Company's shares and votes. This request urges the board to convene an extraordinary general meeting. The agenda includes the cancellation of previous resolutions regarding the Company’s liquidation and its delisting from Euronext Oslo Børs, in addition to a proposal for a corporate investigation related to the sale of a subsidiary's interest.
Response from the Board of Directors
In response to Møller's request, the board has indicated that it does not believe there are reasonable grounds for a corporate investigation. The details of the sale regarding the subsidiary's 20% ownership interest have been in the public domain for several months. This sale was part of a strategic review, involving external advisors, which led the board to deem it the most beneficial option for both the Company and its shareholders. It effectively allowed for quicker capital returns to shareholders, expediting what was initially a 2027 timeline to 2025.
Considerations for Future Meetings
The board is taking Møller's request seriously and will process it according to the Norwegian Public Limited Liability Companies Act. This ensures that formal procedures are observed, and more information will be provided following deliberations on the matter.
Understanding the Liquidation Process
Aker Carbon Capture ASA is undergoing liquidation due to the cessation of operational activities. Given the decision to liquidate, the board's focus is on completing the process efficiently for the shareholders’ benefit. This decision stems from the fact that the Company is not expected to resume operations or invest in new activities.
Dividend Adjustments Due to Additional Costs
The board has communicated additional changes concerning the liquidation dividend due to Møller's request and the corresponding costs associated with processing this extraordinary meeting request. Initially set at a dividend of NOK 0.141 per share, after accounting for extra administrative and legal expenditures, this figure has been revised to NOK 0.137 per share. The total amount distributed to shareholders will also decrease proportionately. Important dates related to the liquidation dividend will be updated and shared in future communications.
Communication with Stakeholders
For any stakeholders seeking further information, Aker Carbon Capture ASA's media and investor relations contact is Mats Ektvedt, who is reachable via mobile. Relevant emails for inquiries about the process will be available; however, specifics of personal email addresses cannot be directly shared.
Overview of Liquidation Accounts
Alongside the ongoing discussions regarding the extraordinary meeting and dividend adjustments, audited liquidation accounts will be made accessible. These accounts will provide stakeholders with a clear understanding of Aker Carbon Capture ASA's financial standings during the liquidation process. Additional documentation is being processed for review in conjunction with the extraordinary meeting.
Frequently Asked Questions
What is the purpose of the extraordinary meeting requested?
The meeting aims to discuss the cancellation of prior resolutions regarding liquidation and delisting and to consider a corporate investigation proposal.
How will the board address the meeting request?
The board will review the request in line with legal requirements and respond appropriately.
What is the impact of the liquidation process on shareholders?
Shareholders will receive liquidation dividends, but there are adjustments due to the costs associated with the extraordinary meeting.
What has been changed regarding the liquidation dividend?
The dividend has been revised downward from NOK 0.141 to NOK 0.137 per share to incorporate additional costs.
Where can shareholders find more details about the liquidation?
Shareholders can access information about liquidation accounts and other relevant materials via the Company’s relayed updates and communications.
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