General Meetings

The invitation for the General Meeting of Shareholders contains all the required information under the Commercial Act and the Law on Public Offering of Securities and additional information on exercising the right to vote and the possibility to add new items to the agenda pursuant to Art. 223a of the Commercial Act.

All shareholders are informed about the rules under which the General Meetings of Shareholders shall be convened and held, including voting procedures, by means of the Company’s Articles of Association and invitations to any particular general meeting of the shareholders.

As obvious from the minutes for the General Meetings of Shareholders of the Company, the Board of Directors and the elected chairperson ensure that each shareholder retains the right to express their opinion and ask questions during the General Meeting of Shareholders.Shareholders holding voting shares have the opportunity to exercise their voting rights directly or through the use of a proxy or by correspondence at the General Meeting of Shareholders.

As part of the materials for the General Meeting of Shareholders the Board of Directors provides a sample of a proxy, Proxy voting Rules and Rules for voting through correspondence.

Pursuant to the company’s Articles of Association it is possible for the general meeting of the company’s shareholders to also be held by an electronic platform. Exercising voting rights through an electronic platform has not been used hitherto since it would make the process of convening and holding a general meeting extremely expensive. Also, in view of the small number of shareholders who participate annually in the work of the meeting, it appears that the use of this means is economically unjustified.

The Board of Directors:

• organizes the rules and procedures for conduct of the General Meeting of Shareholders in a manner which does not make the voting procedure unnecessarily difficult or expensive.
• encourages the participation of shareholders at the General Meeting of Shareholders and has provided a possibility for remote exercising the right to vote in the General Assembly remotely.