15 Mar 2011

Annual General Meeting 14 April 2011

The board of Norske Skog has decided on the final agenda for the company's annual general meeting on 14 April, 2011 which will be held in the company's main office at Oxenøen Brug:

  1. The chair of the corporate assembly opens the meeting, and the attending shareholders are registered
  2. Election of two persons to sign the minutes together with the chair
  3. Approval of summons and proposed agenda
  4. Approval of the annual report and report of the board of directors for 2010 for Norske Skogindustrier ASA and the group
  5. Coverage of loss for 2010
  6. The board's declaration on salary and other remuneration for executive employees
  7. Determination of remuneration to the members of the corporate assembly
  8. Approval of the auditor's remuneration
  9. Election of members and deputy members to the corporate assembly
  10. Election of four members and chair of the election committee
  11. Proposal to authorize the board to increase share capital
  12. Proposal to authorize the board to issue convertible bonds 

The board's recommendation to the general meeting is that no dividend should be disbursed for the accounting year 2010.

 

Because of the company's expressed intention of playing an active role in relation to further consolidation of the industry, the board has decided to propose to the general meeting to authorize the board to increase the company's share capital. The authorization is limited to a maximum of 10 % of the share capital (NOK 189 945 526) and will be for one year.

 

This authorization will give the company increased flexibility and a better position in relation to possible structural transactions, as well as a further strengthening of the position in relation to possible future capital needs. For the same reason and with the same time limit, the board proposes an authorization to issue convertible bonds, limited to a maximum of NOK 800 million and with a maximum increase of the share capital of 10 % in case of conversion.

 

The final summons for the annual general meeting will issued to the shareholders on 24 March 2011.

 

Oxenøen, 15 March 2011

Norske Skog
Corporate communication

 

For further information:
Media:
Vice President Corporate Communication
Carsten Dybevig
Mob: (+47) 917 63 117 		Financial markets:
Vice President Investor Relations
Jarle Langfjæran
Mob: (+47) 909 78 434

 

 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)