Announcement no. 3 - 2011/12 June 30, 2011
Today, Thursday, June 30, 2011, the annual general meeting of Thrane & Thrane A/S (CVR no. 65 72 46 18) was held in the Oticonsalen at the Technical University of Denmark, Anker Engelunds Vej 1, 2800 Kgs. Lyngby, Denmark.
39.84% of the company’s share capital was represented at the meeting.
The Board of Directors had elected Klaus Søgaard as chairman of the meeting. The chairman of the meeting verified that the annual general meeting was regularly constituted and formed a quorum for the transaction of the business on the agenda.
The agenda comprised the following business:
- To receive the Board of Directors’ report on the activities of the company.
A report was submitted on the activities of the company. The shareholders at the annual general meeting approved the report.
- To approve the annual report, including the company’s remuneration policy as posted on the company’s website, www.thrane.com, and the Board of Directors’ remuneration for the current financial year, and to pass a resolution granting discharge to the Board of Directors and the Management Board.
The Management submitted the annual report for the financial year ended April 30, 2011. The shareholders at the annual general meeting approved the annual report, including the company’s remuneration policy and the Board of Directors’ remuneration for the current financial year, and passed a resolution granting discharge to the Board of Directors and the Management Board.
- To pass a resolution on the distribution of profit or the treatment of loss according to the annual report as approved.
The annual report as approved contained the Board of Directors’ proposal for allocation of the profit for the year to the effect that dividend be paid out at the rate of DKK 8.00 per share, equivalent to DKK 45.3 million. The shareholders at the annual general meeting approved the Board’s proposal.
- To elect members to the Board of Directors.
The shareholders at the annual general meeting re-elected Waldemar Schmidt, Morten Eldrup-Jørgensen, Lars Thrane and Jim Hagemann Snabe. Subsequently, the Board elected Waldemar Schmidt as its chairman.
- To appoint auditors.
The shareholders at the annual general meeting re-appointed Grant Thornton, Statsautoriseret Revisionsaktieselskab, as the company’s auditor.
- To consider any resolutions proposed by the Board of Directors or the shareholders.
The shareholders at the annual general meeting passed the following resolutions proposed by the Board of Directors:
(i) Authorization to effect capital increase:
The authorizations for the Board of Directors to resolve to make capital increases, cf. article 3.A.1-3 of the articles of association, were extended until the next annual general meeting to be held in 2012.
(ii) Authorization to acquire treasury shares:
The shareholders at the annual general meeting authorized the Board of Directors to let the company acquire treasury shares within a total nominal value of 10% of the company’s share capital at a price that does not deviate by more than 10% from the closing price (all trades) quoted by NASDAQ OMX Copenhagen A/S at the time of acquisition. The authorization is given for a period until the annual general meeting to be held in 2012.
--oo0oo--
There was no further business to be transacted at the annual general meeting, and the meeting closed at 4.30 p.m.
For further information, please contact
John Alexandersen, Vice President
Corporate Communications & Investor Relations
Tel. +45 39 55 88 35 or +45 22 72 38 22 (mobile)
E-mail ja@thrane.com
About Thrane & Thrane
Thrane & Thrane is the world’s leading manufacturer of equipment and systems for global mobile communication based on sophisticated satellite and radio technology. Since its incorporation in 1981, the company has established a strong position within global mobile communication solutions based on the Inmarsat system, and today Thrane & Thrane provides equipment for maritime, land-based and aeronautical use. The company’s communication products are sold throughout the world under the brands Thrane & Thrane, EXPLORERTM, SAILOR® and AVIATOR through distributors and partners. Thrane & Thrane is listed on NASDAQ OMX in Copenhagen (THRAN). www.thrane.com.