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2011-03-19 14:35:24 CET 2011-03-19 14:36:21 CET REGULATED INFORMATION Atlantic Petroleum P/F - FyrirtækjafréttirResult of Annual General Meeting 19th March 2011Tórshavn, Faroe Islands, 2011-03-19 14:35 CET (GLOBE NEWSWIRE) -- 1. Petur Even Djurhuus was elected Chairman of the General Meeting. 2. The Chairman of the Board presented the Board of Director's statement of the Company's activity during 2010. 3. The audited Annual Accounts were presented and approved by the General Meeting. 4. It was decided to carry forward the result from 2010 to the next year. 5. Two of five Board Members were up for election for a period of two years: Birgir Durhuus and Poul Mohr. They were re-elected. Mortan Johannesen, as previously announced, resigned from the Board and David A. MacFarlane was elected in his place. 6. As proposed it was decided to re-elect Sp/f Grannskoðaravirkið INPACT løggilt grannskoðaravirki, R.C. Effersøesgøta 26, 100 Tórshavn as auditors, for the period until the next Annual General Meeting. 7. The General Meeting approved that the Board of Directors of the company be authorised to buy 10% of its own shares in the period from 19th March 2011 to 19th September 2012 at a price that does not deviate from the applicable stock price of the shares on NASDAQ OMX Copenhagen with more than 10% when purchase takes place. 8. The General Meeting approved the general guidelines proposed by the Board of Directors for the Company's incentive payment to the Board of Directors and the Management Board. 9. The Board withdrew its proposal to change the Articles of Association of the Company in accordance with Item 9 of the Annual General Meeting Summons announced 14th March 2011 and therefore the proposal wasn't voted upon. -- o -- At a Board Meeting held immediately after the Annual General Meeting, the Board constituted Birgir Durhuus as continuing Chairman of the Board, and Jan Evensen as deputy Chairman. English translation of Articles of Association will be available on the Company website Further Details Further details can be obtained from Ben Arabo, CEO, tel +298 350 100 (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. 9/2011 Issued 19-03-2011 P/F Atlantic Petroleum Gongin 9 P.O. Box 1228 FO-110 Tórshavn Faroe Islands Telephone +298 350 100 Fax +298 350 101 Website: www.petroleum.fo E-mail: petroleum@petroleum.fo |
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