At 16.00 hours on Monday 7 April 2003, FLS Industries held its Annual General Meeting at Radisson SAS Falconer Center, Frederiksberg, Copenhagen with the following agenda:
1. Management and Board of Directors report on the activities of the Company
2. Submission of the annual report
3. Adoption of the annual report and discharge of the Board and Management from their obligations.
4. Board recommendations for the distribution of profits
5. Election of members to the Board of Directors
6. Appointment of two auditors
7. Any proposals by the Board of Directors or shareholders
The report by the Board and Management was sent to the Copenhagen Stock Exchange today Monday 7 April at 16.04 (Stock Exchange Message no 08-2003, available at the FLS Industries' website, www.flsindustries.com under Pressroom/News).
Re 1 - 4:
Items 1 to 4 on the agenda were dealt with as one item. The Company in General Meeting adopted the annual report and the accounts and discharged the Board and Management from their duties. The Board's proposal not to distribute dividend, in view of the loss for the year at DKK 1,449m was approved.
Re 5:
Pursuant to the Articles of Association, the members of the Board elected at the General Meeting retire at each Annual General Meeting. All of these members (Messrs Torkil Bentzen, Tom Knutzen, Johannes Poulsen, Johan Schrøder, Jens S. Stephensen and Jørgen Worning), stood for reelection and were elected unopposed.
Re 6:
The Company in General Meeting approved the Board's proposal to reappoint KPMG C. Jespersen and Deloitte & Touche, statsautoriseret revisionsaktieselskab, as auditors.
Re 7:
The Company in General Meeting approved the Board's proposal to grant the Company authorization to buy own shares, A shares and/or B shares, up to a nominal value of 10% of the share capital and until the next Annual General Meeting.
The Chairman of the Meeting, Mr Klaus Søgaard, closed the Annual General Meeting at 17.08 hours. Approximately 500 shareholders, representing 79,3 % of the votes, attended the Annual General Meeting.
At the subsequent initial Board Meeting, the Board elected Mr Jørgen Worning as Chairman and Mr Jens S. Stephensen as Vice Chairman.
FLS Industries A/S
Corporate Public Relations