D/S Norden — AGM Information 2014

Apr 23, 2014

Attached please find below text as PDF file.

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                                                         Announcement no. 18

                                                               23 April 2014

Annual general meeting in Dampskibsselskabet NORDEN A/S

On Wednesday 23 April 2014, annual general meeting in Dampskibsselskabet NORDEN
A/S was held, see company announcement no. 14 of 26 March 2014.

Adoption of the annual report

The annual general meeting adopted the annual report (including the management
commentary, the consolidated and parent company financial statements together
with the statement by the Board of Directors and Executive Management and the
auditor’s report).

Dividend

The Board of Directors’ proposal for the distribution of profits, including
payment of dividend of DKK 5 per share of DKK 1 was adopted.

Election of members to the Board of Directors

Erling Højsgaard and Arvid Grundekjøn were re-elected as members of the Board
of Directors.

Appointment of auditor

PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab was
re-appointed as auditor of the Company.

Adoption of the revised general guidelines for incentive-based remuneration

The general meeting adopted the revised general guidelines for incentive-based
remuneration of the Board of Directors and the Executive Management pursuant to
section 139 of the Danish Companies Act.

Amendment of the Articles of association

The amendments proposed by the Board of Directors were adopted. There was not
sufficient share capital represented at the annual general meeting to carry
through the adopted amendments under items F.2 and F.3, and an extraordinary
general meeting will therefore be convened within 14 days for the purpose of
finally adopting the proposed amendments.

Before the capital reduction under item F.2 is effected, it is required, in
addition to adoption at an extraordinary general meeting, that the Company’s
creditors will be asked to notify any claim prior to the deadline stipulated by
the Danish Companies Act through the IT system of the Danish Business
Authority.

Treasury shares

The Board of Directors was authorised – for a period of time until the next
annual general meeting – to arrange for the Company to acquire treasury shares
at a nominal value of up to 10% of the share capital at the market price quoted
at the time of the acquisition with a deviation of up to 10%.

Proposals from shareholder

The proposals under items F.5, F.6 and F.7 were not adopted.

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After the annual general meeting, the Board of Directors appointed Mogens Hugo
as Chairman and Klaus Nyborg as Vice Chairman.

The Board of Directors thus consists of the following members:

Mogens Hugo (Chairman)

Klaus Nyborg (Vice Chairman)

Alison J. F. Riegels

Erling Højsgaard

Karsten Knudsen

Arvid Grundekjøn

Ole Clausen (employee representative)

Anne-Katrine Nedergaard (employee representative)

Lars Enkegaard Biilmann (employee representative)

The full Chairman's report is available in company announcement no. 17 and at
www.ds-norden.com.

                              Kind regards,

                      Dampskibsselskabet NORDEN A/S

                              Mogens Hugo

                                Chairman

Further information: Mogens Hugo, Chairman, tel. +45 3315 0451.

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DAMPSKIBSSELSKABET NORDEN A/S, 52, STRANDVEJEN, DK-2900 HELLERUP, CVR NO.
                                67758919