Results of the Extraordinary shareholders’ meeting 22 November 2018
22 Nov 2018
Chairman of the Board Asthildur Otharsdottir addressed the meeting on behalf of the Board.
Decisions of the meeting
All proposals presented by the Board were approved by the meeting. There were two proposals on the meeting’s agenda, i.e. that the Company’s share capital shall be reduced in connection with the preparation of potential dual listing of the company, for the benefit of shareholders, and a proposal to grant an authorization to the Board of Directors to initiate a share buyback program. No other business was addressed in the meeting’s agenda.
Articles of Association
The meeting approved that the Company’s share capital shall be reduced by ISK 52,983,076 nominal value, from ISK 735,568,997 to ISK 682,585,921 nominal value. The reduction will be executed by way of cancelling 52,983,076 of the Company‘s own shares of ISK 1 each, in accordance with the provisions of Act No. 2/1995 on Public Limited Companies.
It was approved to amend Article 2.1 of the Articles of Association for Marel hf. which now states as follows: "The share capital of the Company amounts to ISK 682,585,921.”
Share buyback program
The EGM approved an authorization for the Company to initiate a formal share buyback program that complies with the provisions of the Act on Securities Transactions No. 108/2007 and appendix to Regulation on Insider Information and Market Manipulation No. 630/2005. The Company may purchase up to 34,129,296 shares in total under the program, corresponding to 5% of the share capital.
All relevant information and documents in relation to the Extraordinary shareholders’ Meeting is available and archived on marel.com/egm.