GOTHENBURG, Sweden, Oct. 26, 2005 (PRIMEZONE) -- At the Annual General Meeting of 2005 the proposal of a nomination committee passed. The committee will draw up a proposal to be presented at the Annual General Meeting in 2006 for the election of the Board of Directors as well as:
- A proposal for the election of the Chairman for the meeting
- A proposal for the election of the Chairman of the Board
- A proposal for the directors' fees specified for the Chairman, deputy chairman and other board members
The nomination committee shall consist of deputy chairman of the board of directors and a representative of each of the two shareholders holding the largest number of voter. If a shareholder refrains from the right to appoint a member, the shareholder with the next largest number of votes shall appoint a member. These representatives shall not be members of the board of directors. The chairman of the nomination committee shall be the representative of the largest shareholder.
NOMINATIONS COMMITTEE
Chairman: Karl-Magnus Sjolin, Representing Stena Sessan Rederi AB Member: Nils Petter Hollekim, Representing Odin Fonder Member: C. Mikael von Mentzer, deputy chairman Concordia Maritime AB
Contact information for the nomination committee: Karl-Magnus Sjolin, Stena Sessan Rederi AB, Box 2181, 403 13 Goteborg
Concordia Maritime is an international tanker shipping company listed on the O List on the Stockholm Stock Exchange. In 2003, six vessels, which will be built in accordance with the MAX concept, were ordered. These vessels, P-MAX, are product tankers of about 49,900 dwt. The MAX concept means that the vessels are designed for maximum loading capacity in shallow waters. In addition to having mandatory double hulls, they have been designed according to a new concept for safer oil transportation with double main engines in two completely separate engine rooms, double rudders and steering gear, two propellers and double control systems. In 2004, two Panamax tankers of about 75,000 dwt, in which the company has a 50 per cent share, were ordered. All the vessels on order will be delivered over a 2-year period from December 2005. Concordia Maritime also has two VLCCs, each 313,000 dwt, on time charter for five years. These vessels, V-MAX, which were taken into service in 2001, were originally built for Concordia and are the first vessels built in accordance with the MAX concept.
INNOVATION AND PERFORMANCE
Our mission is to generate a profit by providing our customers with safe, cost-efficient tanker transportation based on innovation and performance.
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