Icelandair Group hf. - Notice to general meeting

AGM March 3 2017

ICELANDAIR GROUP HF. – ANNUAL GENERAL MEETING 03 MARCH 2017

Hilton Reykjavik Nordica at 4.00 pm

Agenda

  1. The Board of Director’s report on the Company’s operations in the past year
     shall be presented
  2. Confirmation of annual accounts and decision on the handling of profit or
     loss of the financial year
  3. Decision on payments to board members
  4. Proposals of the Board of Directors regarding the remuneration policy
  5. Election of the Board of Directors
  6. Election of auditor
  7. Authorization to purchase treasury shares
  8. Any other lawfully submitted business

Proposals

  1. Annual Accounts (Item 2)

The Board of Directors proposes to the Annual General Meeting that the Annual
Accounts of the 
Company for 2016 will be approved.

  1. Dividends payments (Item 2)

The Board of Directors proposes to the Annual General Meeting that dividend
payments in the amount of ISK 565 million will be made in ISK to the
shareholders, which is ISK 0.11 per share. The record date will be 7 March
2017. Only shareholders registered in the shareholders' registry at closing on
the record date are entitled to receive dividend payments. The ex-date, i.e.
when trading exclusive of dividends begins, will be 6 March 2017, which is the
trading day following the AGM. Payment date of the dividend will be 30 March
2017. 

  1. Remuneration to Board Members (Item 3)

The Board of Directors proposes to the Annual General Meeting that remuneration
to Board Members and Sub-Committee Members shall be the same as they were last
year: Each Board Member will receive ISK 300,000 per month, the Chairman will
receive ISK 600,000 per month, the Deputy Chairman will receive ISK 450,000 per
month, Sub-Committee Members will receive ISK 110,000, the Chairman of the
Audit Committee will receive ISK 250,000 per month and the Chairman of the
Compensation Committee will receive ISK 140,000 per month. 

  1. Remuneration Policy (Item 4)

The Board of Directors proposes to the Annual General Meeting that the
following Remuneration Policy will be approved. Except for Paragraph 4 of
Article 3 and Paragraph 5 of Article 7 the Policy has not been changed from
last year. 

  1. Auditors (Item 6)

The Board of Directors proposes to the Annual General Meeting that KPMG hf.
will be the Company’s auditors and that Alexander Edvardsson and Audur Osk
Thorisdottir will audit the Company on behalf of KPMG. 

  1. Purchase of treasury shares (Item 7)

The Board of Directors of Icelandair Group proposes to the Annual General
Meeting that the Company will be authorized to purchase in the next 18 months
up to 10% of its own shares in accordance with Article 55 of the Icelandic
Companies Act No 2/1995 in order to establish a market making agreement for
issued shares in the Company or to set up a formal buy-back programme. It is
not allowed to purchase such shares at a higher rate than the last spot market
rate or the highest bid in the trading system of a regulated market where the
shares are traded.  Such purchases are however authorized if they are executed
by a market maker in accordance with Article 116 of the Act on Securities
Trading or in accordance with Item 1, Paragraph 3, Article 115, and Paragraph
2, Article 119 of the Act on Securites Transactions and regulations implemented
on the basis of Articles 118 and 131 of the same Act

Attachments:

remuneration_policy.pdf