Key Outcomes from Kaldalón hf.’s Recent Annual Meeting
Kaldalón hf.'s Annual General Meeting Resolutions
The Annual General Meeting of Kaldalón hf. unfolded with several important resolutions that shape the company’s future. This pivotal event serves as a gathering point for shareholders to discuss and approve essential matters concerning the company.
Approval of Financial Statements
At the meeting, shareholders were presented with the financial statements for the year 2024. The assembly unanimously approved the statements, a clear indication of the company's transparency and dedication to its investors. However, in light of the financial results, it was determined that no dividend would be issued for the year, reinforcing the company’s commitment to reinvesting its profits.
Election of the Board of Directors
Following the approval of the financial documents, shareholders proceeded to elect members to the Board of Directors. Five candidates put themselves forward, and the elections were smooth, with no additional nominations submitted. The elected board members are Álfheiður Ágústsdóttir, Ásgeir Helgi Reykfjörð Gylfason, Haukur Guðmundsson, Haukur Hafsteinsson, and Pálína María Gunnlaugsdóttir. In addition, the alternate directors chosen were Gunnar Henrik B. Gunnarsson and Hildur Leifsdóttir.
In a subsequent board meeting, roles were assigned among the elected members with Ásgeir Helgi Reykfjörð Gylfason taking on the role of Chairman, while Haukur Guðmundsson served as Vice-Chairman, setting the tone for the new leadership team.
Appointment of the Auditor
The meeting also addressed the important matter of appointing an auditor for the forthcoming financial cycle. PricewaterhouseCoopers ehf. was unanimously selected as the designated auditor, reflecting confidence in their expertise and professionalism.
Remuneration for Board Members
Another significant resolution involved the compensation structure for the Board of Directors and its committees. The agreed monthly remuneration for board members was established at ISK 350,000, with the Chairman receiving double that amount, and the Vice-Chairman one and a half times the standard remuneration. Additionally, alternate directors will receive ISK 100,000 for each meeting they attend.
Members of the Audit Committee will have a set remuneration of ISK 50,000, while the Chair of this committee will earn ISK 100,000 monthly. For the Nomination Committee, it was resolved that members would receive ISK 750,000 for their service term, and the Chair will receive ISK 1,000,000. Importantly, remuneration for the Remuneration Committee members will not be provided separately, promoting a spirit of collaborative service without financial incentives.
Remuneration Policy and Committee Elections
The existing Remuneration Policy received unanimous approval, demonstrating consistent governance practices. Additionally, the Nomination Committee was duly elected, comprising Ásgeir Sigurður Ágústsson, Margrét Sveinsdóttir, and Unnur Lilja Hermannsdóttir, all of whom will contribute to the ongoing governance of the company.
Independent Auditing Leadership
In an essential move for ensuring unbiased oversight, Harpa Vífilsdóttir was elected as the independent member of the Audit Committee. This appointment is crucial in reinforcing the integrity of the company’s financial practices.
Reducing Share Capital
Moreover, a significant proposal concerning the company’s capital structure was unanimously resolved. A reduction of ISK 337,501,390 in share capital was agreed upon, equivalent to the cancellation of 33,750,139 treasury shares, affirming the company’s strategic financial decisions. This adjustment necessitated an amendment to the Articles of Association, reflecting a commitment to maintaining optimum capital levels for operational efficiency.
The new share capital will be ISK 10,858,183,440, divided evenly among the shares, emphasizing a well-structured ownership layout.
Final Resolutions
The meeting concluded with the unanimous approval of the Rules of Procedure for the Nomination Committee, ensuring that future processes are streamlined and effective. These resolutions not only reflect the perspectives of the shareholders but also highlight Kaldalón hf.'s commitment to adequate governance and financial health moving forward.
Frequently Asked Questions
What were the main resolutions at Kaldalón hf.'s AGM?
The AGM focused on approving financial statements, electing board members, and establishing the remuneration policy.
Who was elected to Kaldalón hf.'s Board of Directors?
Álfheiður Ágústsdóttir, Ásgeir Helgi Reykfjörð Gylfason, Haukur Guðmundsson, Haukur Hafsteinsson, and Pálína María Gunnlaugsdóttir were elected.
What is the new remuneration policy for board members?
Board members will receive ISK 350,000 per month, with varying amounts for the Chairman and Vice-Chairman.
Who will serve as the auditor for Kaldalón hf.?
PricewaterhouseCoopers ehf. was appointed as the auditor for the upcoming financial year.
What changes were made to share capital?
A reduction of ISK 337,501,390 in share capital was resolved, involving the cancellation of treasury shares.
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