Results of the Annual General Meeting of the Teymi hf. held on Wednesday 27
February 2008 at 8:30 at the company's offices at Suðurlandsbraut 18,
Reykjavík.
The accounts of the company were confirmed. The following proposals were
approved:
1. Decision on payment of dividends
The proposal of the Board of Directors o pay shareholders dividends equalling
10% of the company's share capital or ISK 0,10 per share was approved.
2. Election of a Board of Directors
The Board of Directors was elected without ballot. The members are:
Ásta Bjarnadóttir, Reykjavík, Jón Þorsteinn Jónsson, Reykjavík, Pétur Már
Halldórsson, Seltjarnarnes, Þorsteinn M. Jónsson, Reykjavík and Þórdís J.
Sigurðardóttir, Reykjavík. Alternate members: Einar Þór Sverrisson, Reykjavík
and Soffía Lárusdóttir, Reykjavík.
3. Election of Auditors
KPMG Endurskoðun hf. was elected as the Company's Auditors.
4. Decision on the remuneration of the Board of Directors
The Board of Directors' proposal for the the remuneration of the members of the
Board was approved. Individual Board Members will receive ISK 100 000 pr month
and the Chairman double that amount.
Alternative members will receive ISK 50 000 for each meeting attended. The
miminum payment of alternative members is ISK 100 000 and the maximum ISK 1 200
000.
5. Proposals for amendments of the Articles of Association
The Board of Directors' proposals for amendments of the company's Articles of
Association were approved. The proposals read as follows:
Article 1.03.:
“ The company is domiciled at Suðurlandsbraut 18, Reykjavik”
Article 2.01.2:
“The Board of Directors is authorised to raise the company's share capital by
up to ISK 150.000.000 (hundred and fifty million). The authorisation is valid
for 18 months from the date of approval by the shareholders' meeting.
Shareholders waive pre-emptive rights in accordance with Article 34 of the
Companies Act No. 2/1995. The new shares are carry the same rights as
previously recorded shares from the date of registration of the share increase.
The Board of Directors shall determine further details of the share increase
such as price and payment terms.”
Article 4.03.1. item 8:
“The company's remuneration policy”
Article 4.11.:
“The Board of Directors may determine that shareholders may participate
electronically in shareholders´ meetings without being present. Shareholders
who intend to take advantage of their right to participate electronically shall
notify the company's offices with five day prior notice and submit, in writing,
any questions they might have regarding the agenda or presented documents they
wish to have answered at the meeting.
If the Board of Directors is of the opinion that sufficiently secure equipment
is available and decides to use this authorisation, it shall be clearly noted
in the invitation to the meeting. The Board of Directors is also authorised to
decide that the shareholder's meeting shall only be held electronically.
Otherwise Article 80 a of Act on Public Limited Companies No. 2/1995, as
amended from time to time, shall apply to electronic voting.”
6. Proposal for a remuneration policy
The Board of Directors´ proposal for a remuneration policy was approved.
7. Proposal to grant the Board of Directors authorisation to purchase own
shares in accordance with Article 55 of the Companies Act No.. 2/1995.
The Annual General Meeting approved an authorisation for the Board of
Directors' to purchase own shares in accordance with Article 55 of the
Companies Act, up to 10% of the company's shares. The minimum price shall be
the shares nominal value and maximum 10% beyond market price at each time. The
authorisation remains valid until the next Annual General Meeting.
For further information contact Dóra Sif Tynes at + 354 595 5000.
