According to Art. 5.1 of the Company’s Articles of Association, the Annual General Meeting of Marel hf. annually elects 7-9 people to sit on the Board of Directors, but due to the above resignations the Board now consists of 5 Directors.
With reference to Art. 64, para. 2, of the Company Act No. 2/1995, while taking due notice of the conditions therein, the Board of Directors has resolved to postpone the election of new Directors until the next Annual General Meeting.