Festi — Proxy Solicitation & Information Statement 2020

Mar 18, 2020

Festi: Election of Directors for the Board

Festi: Election of Directors for the Board

Kópavogur, 18 March 2020

The Board of Directors of Festi hf. refers to the previously announced notice to convene the Annual General Meeting on Monday 23 March 2020 at 10:00 at the company‘s headquarters Dalvegur 10-14 Kópavogur.

The deadline to announce candidacy for the election of the Board of Directors has now passed. Eight candidacies have been submitted and are all deemed to be eligible. The candidates are:

• Guðjón Reynisson
• Guðmundur Páll Gíslason
• Jón Gunnar Borgþórsson
• Kristín Guðmundsdóttir
• Margrét Guðmundsdóttir
• Már Wolfgang Mixa
• Þórey G. Guðmundsdóttir
• Þórður Már Jóhannesson

The nomination committee has proposed Guðjón Reyniss, Kristín Guðmundsdóttir, Margrét Guðmundsdóttir, Þórey G. Guðmundsdóttir and Þórður Már Jóhannesson for the Board.

According to Festi‘s Articles of Association the proportion on the Board of each gender shall not be lower than 40%

The Articles of Association further stipulate the right of shareholders to request a proportional election or thar voting be cumulative within two days after the announcement of candidates if the number of candidates exceeds the number of Directors. A request for cumulative voting has to be submitted before 17:00 20 March 2020. The request must be submitted on behalf of at least 10% of the shareholders.  

The Board of Directors of Festi