Summons for the Annual General Meeting of P/F Atla
Post# of 301275
Tórshavn, Faroe Islands, 2017-04-04 10:02 CEST (GLOBE NEWSWIRE) -- The Annual General Meeting of P/F Atlantic Petroleum is hereby called. The meeting will be held at the premises of Hotel Hafnia, Áarvegur 4-10, 100 Tórshavn, Faroe Islands.
on Friday 28 th April 2017 at 10:00 AM (Faroese time)
with the following agenda:
- Election of Chairman of the Meeting.
- The Board of Directors’ statement of the Company’s activity during the previous accounting year.
- Presentation of audited Annual Accounts for approval.
3A Approval of the remuneration to the Board in 2016 and 2017.
A. Approval of the remuneration to the Board in 2016.
The Board proposes approval of the actual remuneration in 2016 of DKK 1,067,000
B. Approval of the basis for the remuneration to the Board in 2017.
The Board proposes that the basis for the remuneration to the Board in 2016 will be:
- The basic remuneration to the Board Members will be DKK 200,000
- The Chairman of the Board receives the basic remuneration x 2
- The Deputy Chairman receives the basic remuneration x 1.5
- An ordinary Board Member receives the basic remuneration x 1
- The Chairman for the Audit Committee receives the basic remuneration x 0.5 in addition to his/her general Board remuneration.
- Decision on how to use profit or cover loss according to the approved Accounts and Annual report.
The Board of Directors recommends that the result according to the approved Accounts is carried forward to next year.
- Election of Board of Directors.
According to the Articles of Association all Members of the Board are up for election for a period of one year, namely: David A. MacFarlane, Jan Eiden Müller and Knud Hans Nørve.
The Board of Directors proposes to elect the following three candidates as members to the Board:
Birgir Durhuus, CEO of Moma Advisors A/S;
The Right Honourable Charles Hendry, Former UK Minister of State for Energy :
Ben Arabo, CEO of P/F Atlantic Petroleum
The proposed candidates accept election.
More information on the proposed candidates can be found on the Company’s website www.petroleum.fo.
- Election of auditor, who will sit until the next Annual General Meeting is held.
The present auditor of the Company is P/F Januar løggilt grannskoðaravirki, Óðinshædd 13, 100 Tórshavn. The Board proposes re-election of P/F Januar løggilt grannskoðaravirki, for the period to the next Annual General Meeting.
7. AOB
- - - 0 - - -
Quorum.
Proposals on the agenda for the meeting can be adopted by majority vote.
Requisition of admission card, voting paper and the voting procedure.
The shareholder’s right to participate at the General Meeting and to vote according to his/her shares will be according to the number of shares which the shareholder owns at the register date. The register date is Friday 21 st April 2017.
A shareholder, his/her proxy and the press can participate at the General Meeting on the condition that he/she has given notice to the Company hereof at the latest by Monday 24 th April 2017 via the website of the Company www.petroleum.fo or at the office of the Company, Yviri við Strond 4, Ground floor, PO Box 1228, 110 Tórshavn, or on telephone no. +298 550 100 or on the email address ben.arabo@petroleum.fo
If a shareholder cannot participate in the General Meeting he/she can in writing give a written proxy to a third person to represent him/her at the meeting. Proxy – forms to be used for this purpose are available on the website of the Company www.petroleum.fo and at the office of the Company, Yviri við Strond 4, ground floor, 110 Tórshavn. Shareholders with access to the Investor Portal through the Company’s website can give their proxy instructions via this portal.
The voting – except the voting by letter ballot - will be executed at the General Meeting. The shareholder (or his/her proxy) who have in due time given notice that he/she wishes to attend the Annual General Meeting, will meet at the General Meeting and cast their votes. Admission cards and voting papers will be handed out at General Meeting entrance.
Letter ballot.
The shareholders can vote by letter ballot – that is cast their votes in writing prior to the day of the Annual General Meeting. On the Company’s website www.petroleum.fo shareholders can download a letter ballot form. Letter ballot must be received at the Company’s premises, Yviri við Strond 4, ground floor, PO Box 1228, 110 Tórshavn or on the email address ben.arabo@petroleum.fo at the latest Thursday 27 th April 2017.
The shareholder’s right to bring forward questions.
Shareholders can, prior to the General Meeting, bring forward to the Board/Management of the Company questions regarding matters that have relevance to the 2016 Annual Report and to the Company’s general position or are regarding the decisions that are to be made at the General Meeting. If a shareholder wishes to use this right he/she can send his question in a letter to P/F Atlantic Petroleum, Yviri við Strond 4, ground floor, PO Box 1228, 110 Tórshavn, or to the email address ben.arabo@petroleum.fo .
At the General Meeting shareholders can also bring forward questions to the Board/Management of the Company regarding the mentioned matters.
Documents for the General Meeting, including the 2016 Annual Accounts and agenda with the complete proposals.
Documents relevant for the General Meeting, including (1) the 2016 Annual Accounts with the Auditor’s Report and Annual Report (2) agenda, (3) complete proposals for the General Meeting (4) information on the Company’s total number of shares and votes at the day of the summons and (5) proxy documents and letter ballot form are available at the Company’s office at the address, Yviri við Strond 4, ground floor, PO Box 1228, 110 Tórshavn (tel no. +298 550 100) at the latest 3 weeks prior to the General Meeting. The mentioned documents will also be available on the Company’s website www.petroleum.fo .
Share capital, voting rights and financial institute holding accounts on behalf of the Company.
The share capital of the Company is DKK 3,697,860 divided into shares of DKK 1,- or multipla hereof. According to § 5 sub clause 1 of the Articles of Association of the Company, each shareholder has one vote for each DKK 1,- they hold in share capital.
Number of shares is: 3,697,860 and number of votes is: 3,697,860.
The Company has appointed P/F Eik Banki as holder of accounts. Shareholders can contact this financial institute at Yviri við Strond 2, 100 Tórshavn or on the website www.eik.fo or on telephone no. +298 348 000 to exercise their financial rights in the Company.
Tórshavn 4 th April 2017
P/F Atlantic Petroleum
The Board of Directors
Atlantic Petroleum in brief:
Atlantic Petroleum participates in oil and gas joint ventures with reputable, international partners. Atlantic Petroleum P/F is based in Tórshavn, Faroe Islands, and the Company currently has an office in London, UK. Atlantic Petroleum’s existing shares are listed on NASDAQ OMX Copenhagen and on Oslo Stock Exchange.
Further Details:
Further details can be obtained from Ben Arabo, CEO, tel +298 550100 (ben.arabo@petroleum.fo). This announcement will be available, together with other information about Atlantic Petroleum, on the Company's website: www.petroleum.fo .
On the website, it is also possible to sign up for the Company’s e-mail newsletter.
Announcement no.7/2017
Issued 04-04-2017
P/F Atlantic Petroleum Yviri við Strond 4 P.O. Box 1228 FO-110 Tórshavn Faroe Islands Telephone +44 203 879 0524 Website: www.petroleum.fo E-mail: petroleum@petroleum.fo
(0)
(0)