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Telenor ASA — AGM Information 2014
May 14, 2014
3773_iss_2014-05-14_832e5430-5444-4068-bff4-8e1843bf4715.pdf
AGM Information
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OFFICE TRANSLATION
MINUTES OF THE ANNUAL GENERAL MEETING
OF TELENOR ASA 14 MAY 2014
The Annual General Meeting was held on 14 May 2014 at Telenor's headquarters at Fornebu.
A list of the shareholders who attended in person or by proxy, and the voting results are attached as appendix 1 and 2 to the protocol.
In accordance with section 5-12, first paragraph of the Public Limited Companies Act and the Articles of Association, Article 8, first section, the Annual General Meeting was opened and chaired by the Chairman of the Corporate Assembly, Mr. Anders Skjævestad.
The agenda of the Annual General Meeting:
1. Approval of the notice of the Annual General Meeting and the agenda
The notice and agenda was approved.
2. Election of a representative to sign the minutes of the Annual General Meeting together with the Chairperson of the meeting
Thorunn Bakke was elected to sign the minutes together with the Chairman.
3. Approval of the financial statements and the report from the Board of Directors for the financial year 2013
In accordance with the proposal from the Board, the Annual General Meeting adopted the following resolution:
"The financial statements and report of Telenor ASA and the group for the financial year 2013, including the declaration of a dividend of NOK 7 per share, is approved.
The Board of Directors report on corporate governance was presented and acknowledged."
4. Approval of remuneration to the company's auditor
The Annual General Meeting adopted the following resolution:
"The remuneration in the amount of NOK 4,200,000 to the auditor for the auditing of Telenor ASA is approved."
OFFICE TRANSLATION
- Information and vote on the Board of Director's statement regarding the determination of salary and other remuneration to the executive management
In accordance with the statement and proposal from the Board, the Annual General Meeting adopted the following resolution:
"The Board of Directors' declaration regarding the determination of salary and other compensation to the executive management is approved by the general meeting.
The Board of Director's guidelines for determination of salary and other remuneration to the executive management was approved.
"The Board of Director's guidelines for determination of share based remuneration and other remuneration relating to the development in the pricing of shares were approved."
6. Reduction of the share capital by cancelling treasury shares and redemption of shares owned by the Kingdom of Norway, and reduction of other equity
In accordance with the statement and proposal from the Board, the Annual General Meeting adopted the following resolution:
"The company's share capital is reduced by NOK 90,997,446 by (i) cancellation of 6,981,748 treasury shares, and (ii) redemption of 8,184,493 shares owned by the Kingdom of Norway through the Ministry of Trade, Industry and Fisheries against payment of an amount of NOK 1,047,608,580 to the Kingdom of Norway. The payment corresponds to an average volume weighted price of the company's repurchase of treasury shares in the market after the previous Annual General Meeting, including interest compensation and adjustments for paid dividend. The amount of the payment that exceeds the nominal value of the shares (NOK 956,611,134) shall be covered by other equity."
Effective as of the date of the share capital reduction, section 4 of the Articles of Association shall be amended to read:
"The company's share capital is NOK 9,008,748,180 divided into 1,501,458,030 shares, each with a par value of NOK 6."
7. Authorization for the Board to acquire treasury shares in Telenor ASA for redemption
In accordance with the proposal from the Board, the Annual General Meeting adopted the following resolution:
"1. Pursuant to the Public Limited Companies Act section 9-4, the Board is authorised to purchase up to 31,000,000 treasury shares with a nominal value of a total of NOK 186,000,000 corresponding to approximately 2% of the company's share capital.
- The amount that can be paid per share shall be minimum NOK 6 and maximum NOK 200.
OFFICE TRANSLATION
-
The Board is free to decide if and how the acquisition of shares takes place within the framework of applicable law, and shall ensure that general principles of equal treatment of shareholders shall be complied with. The treasury shares shall be cancelled.
-
This authorisation shall be effective from the time it is registered in the Norwegian Register of Business Enterprises. The authorisation is valid until the Annual General Meeting in 2015."
8. Determination of remuneration to the members of the Corporate Assembly and the Nomination Committee
In accordance with the proposal from the Nomination Committee, the Annual General Meeting adopted the following resolution:
"The remuneration to the members of the Corporate Assembly shall in accordance with the proposal of the Nomination Committee not be adjusted and shall amount to:
Chairperson: NOK 98,300 per year
Deputy Chairperson: NOK 44,000 per year
Member: NOK 33,500 per year
Deputy member: NOK 7,000 per meeting
The remuneration to the members of the Nomination Committee is adjusted in accordance with the proposal from the Nomination Committee and will after the adjustment amount to:
NOK 5,500 per meeting, up from NOK 4,550 per meeting Chairperson:
NOK 4,800 per meeting, up from NOK 4,000 per meeting." Member:
* * * * *
There was no further business and the general meeting was closed.
Oslo, 14 May 2014
Anders Skjævestad $(sign.)$
Thorunn Bakke $(sign.)$
Enclosures:
- List of the shareholders who attended in person or by proxy $\mathbf{1}$
- $\overline{2}$ The voting results
Side 1 av 1
Total Represented
| ISIN: | NO0010063308 TELENOR ASA |
|---|---|
| General meeting date: 14/05/2014 15.00 | |
| Today: | 14.05.2014 |
Number of persons with voting rights represented/attended: 31
| Number of shares % sc | ||
|---|---|---|
| Total shares | 1,516,624,271 | |
| - own shares of the company | 6,981,748 | |
| Total shares with voting rights | 1,509,642,523 | |
| Represented by own shares | 899,937,510 | 59.61 % |
| Sum own shares | 899,937,510 | 59.61 % |
| Represented by proxy | 17,008,543 | 1.13 % |
| Represented by voting instruction | 121,159,093 | 8.03 % |
| Sum proxy shares | 138,167,636 | 9.15% |
| Total represented with voting rights | 1,038,105,146 | 68.77 % |
| Total represented by share capital | 1,038,105,146 | 68.45 % |
| Registrar for the company: | Signature company: |
|---|---|
| NORDEA BANK NORGE ASA | TELENOR ASA |
| Refnr | Fornavn | Firma- /Etternavn |
Repr. ved | Aktør | Aksje | Egne | Fullmakt | Instrukser | Totalt | % kapital | % påmeldt | % repr. | Stemmemal | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $\vec{\circ}$ | Svein Aaser | Styretsleder | Fullmektig | Ordinær | $\circ$ | 13798156 | 121 154 039 | 134 952 195 | 8,90 % | 13,00 % | 13,00% | EFFMFFF | ||
| 26 | Skjævestad Anders |
Mateleder | Fullmektig | Ordinær | $\circ$ | 3210387 | 5054 | 3215441 | 0,21 % | $0.31\%$ | $0.31\%$ | FFFFFFF | ||
| 34 | ARTEMENTE FISKERIDEP $\rightarrow$ NÆRINGS- SO 1 |
Avd dir. Thorunn Bakke |
Aksjonær | Ordinær | 124 644 421 | $\circ$ | $\circ$ | 124 449 421 | 53,97% | 78,84% | 78,84% | |||
| $42$ | FOLKETRYG DFONDET |
EIVIND LOTSBERG |
Aksjonær | Ordinær | 81 418 868 | $\circ$ | $\circ$ | 81418868 | 5,37 % | 7,84 % | 7,84 % | |||
| 11676 | KNUT | MYRSTØL | Aksjonær | Ordinær | 10000 | $\circ$ | $\circ$ | 10000 | 0,00% | $0,00\%$ | 0,00% | |||
| 10961 | ODD ARNE | GABRIELSEN | Aksjonær | Ordinær | 5781 | $\circ$ | O | 1878 | 0,00% | 0,00% | 0,00% | |||
| $\cdot$ | 15339 | AUD | ROKKE | Aksjonær | Ordinær | 5446 | O | O | 5446 | 0,00% | % 00'0 | 0,00% | ||
| $\epsilon$ | 15537 | SIQUELAND ANDREAS TRYGVE |
KNUDSEN | Aksjonær | Ordinær | 5339 | $\circ$ | $\circ$ | 5339 | 0,00% | 0,00% | 0,00% | ||
| $\lambda$ | 18127 | LEIF ARNE | NESET | Aksjonær | Ordinær | 4448 | $\circ$ | $\circ$ | 4448 | 0,00% | 0,00% | 0,00% | ||
| ¥. | 20172 | TERJE | IVERSEN | Aksjonær | Ordinær | 3888 | $\circ$ | $\circ$ | 3888 | 0.00% | 0,00% | 0,00% | ||
| $\epsilon$ | 24794 | GRZEGORZ | SITEK | Aksjonær | Ordinær | 5000 | $\circ$ | $\circ$ | 5000 | 0,00 % | 0,00% | 0,00 % | ||
| $\bar{t}$ | 27789 | GRETE | BJØRNSTAD | Aksjonær | Ordinær | 2643 | $\circ$ | $\circ$ | 2643 | 0,00% | 0,00 % | 0.00% | ||
| $\epsilon$ | 69682 | KARSTEN TOR |
BORCH | Aksjonær | Ordinær | 2500 | O | O | 2500 | 0,00% | 0,00 % | 0,00% | ||
| 30312 | STEIN ERIK | OLSEN | Aksjonær | Ordinær | 2427 | $\circ$ | $\circ$ | 2427 | 0.00% | 0,00 % | 0.00% |
$\frac{1}{i}$
Møteliste Oppmøtt TELENOR ASA 14.05.2014
$\mathfrak{t}$
$\ddot{\nu}$
$\bar{\epsilon}$ $\sim$
| 257469 | 188490 | 162073 | 155416 | 986801 | 66357 | 57711 | 45633 | 45286 | 42853 | 41376 | 40113 | 39222 | 38786 | 38265 | 30502 | Refnr |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BJØRN LORANG |
TORE | ODD BIRGER | JAN HAKON | VIGGO | KNUT | HALLVARD | RUNE | ROLF BJØRN SVEEN |
ΚAΙ | LORMA SISSEL REBERG |
ODDVAR | TORSTEIN | ARNE SVERRE |
THOR | MAGNHILD ØVSTHUS |
Fornavn |
| JENSEN | GILBØ | VANGEN | TØNSETH | KAMPLI | OVENSTRØM | $E\Omega$ | ØISTESØ | HAUGEN | SCHJØLL | NILSEN | KOLSTAD | BORE | AASTORP | LUNDE | HANSSEN | Firma- Ætternavn |
| Repr. ved | ||||||||||||||||
| Aksjonær | Aksjonær | Aksjonær | Aksjonær | Aksjonær | Aksjonær | Aksjonær | Aksjonær | Aksjonær | Aksjonær | Aksjonær | Aksjonær | Aksjonær | Aksjonær | Aksjonær | Aksjonær | Aktør |
| Ordinær | Ordinær | Ordinær | Ordinær | Ordinær | Ordinær | Ordinær | Ordinær | Ordinær | Ordinær | Ordinær | Ordinær | Ordinær | Ordinær | Ordinær | Ordinær | Aksje |
| 200 | coc | 407 | 464 | 289 | 1000 | 1182 | 1512 | 989 L | 1682 | 1743 | 1802 | 1872 | 0061 | 1964 | 2 403 | Egne |
| $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | Fullmakt |
| $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | $\circ$ | Instrukser |
| 200 | 300 | 407 | 464 | 289 | 1000 | 1182 | 1512 | 1536 | 1682 | 1743 | 1802 | 1872 | 1900 | +961 | 2403 | Totalt |
| 0,00% | 0,00% | 0,00% | 0,00% | 0,00% | 0,00% | 0,00% | 0.00% | 0,00% | 0,00% | 0,00% | 0,00% | 0,00% | 0,00% | 0.00% | 0,00% | % kapital |
| 0,00% | 0,00 % | 0,00% | 0,00% | 0,00 % | 0,00% | 0,00% | 0,00% | 0,00% | 0,00% | 0,00% | 0,00% | 0,00% | 0.00% | 0,00% | 0,00% | % påmeldt |
| 0,00% | 0,00% | 0,00% | 0,00 % | 0,00 % | 0,00% | 0,00% | 0,00% | 0,00% | 0,00% | 0,00% | 0,00% | 0,00% | 0,00% | 0,00% | 0,00% | % repr. |
| Stemmernal |
$-5 -$
| 366468 | Refnr |
|---|---|
| BJØRN | Fornavn |
| AHLQUIST | Firma- Ætternavr |
| Repr. ved | |
| Aksjonær | Aktør |
| Ordinær | Aksje |
| $\vec{8}$ | Egne |
| $\circ$ | Fullmak |
| $\circ$ | nstrukse |
| ioo | Totalt |
| 0,00 % | % kapita |
| % 00'0 | % pámelc |
| 0,00% | % repr |
| Stemmen |
Protocol for general meeting TELENOR ASA
| ISIN: | NO0010063308 TELENOR ASA |
|---|---|
| General meeting date: 14/05/2014 15.00 | |
| Today: | 14.05.2014 |
| Shares class | FOR | Against | Abstain | Poll in | Poll not | |
|---|---|---|---|---|---|---|
| Agenda item 1 Approval of the notice of the Annual General Meeting and the agenda | ||||||
| Ordinær | 1,038,027,887 | 0 | 77,259 | 1,038,105,146 | ||
| votes cast in % | 99.99 % | 0.00% | 0.01% | |||
| representation of sc in % | 99.99 % | 0.00% | 0.01% | 100.00 % | ||
| total sc in % | 68.44 % | 0.00% | 0.01% | 68.45 % | ||
| Total | 1,038,027,887 | 0 | 77,259 1,038,105,146 | |||
| Agenda item 3 Approval of the annual financial statements and report from the Board of | ||||||
| Ordinær | 1,037,368,589 | 284,365 | 452,192 | 1,038,105,146 | ||
| votes cast in % | 99.93 % | $0.03\%$ | 0.04% | |||
| representation of sc in % | 99.93 % | $0.03\%$ | 0.04% | 100.00 % | ||
| total sc in % | 68.40 % | 0.02% | 0.03% | 68.45 % | ||
| Total | 1,037,368,589 | 284,365 | 452,192 1,038,105,146 | |||
| Agenda item 4 Approval of remuneration to the company's auditor | ||||||
| Ordinær | 1,035,506,180 | 1,544,713 | 1,054,253 | 1,038,105,146 | ||
| votes cast in % | 99.75 % | 0.15% | 0.10% | |||
| representation of sc in % | 99.75 % | 0.15% | 0.10% | 100.00 % | ||
| total sc in % | 68.28 % | 0.10% | 0.07% | 68.45 % | ||
| Total | 1,035,506,180 | 1,544,713 1,054,253 1,038,105,146 | ||||
| Agenda item 5 Information and vote on the Board of Director's statement regarding the $\epsilon$ | ||||||
| Ordinær | 942,594,058 | 94,456,571 | 1,054,517 | 1,038,105,146 | ||
| votes cast in % | 90.80 % | 9.10 % | 0.10% | |||
| representation of sc in % | 90.80 % | 9.10 % | 0.10% | 100.00 % | ||
| total sc in % | 62.15 % | 6.23% | 0.07% | 68.45 % | ||
| Total | 942,594,058 94,456,571 1,054,517 1,038,105,146 | |||||
| Agenda item 6 Reduction of share capital by cancelling treasury shares and redemption o | ||||||
| Ordinær | 1,037,155,288 | 871,780 | 78,078 | 1,038,105,146 | ||
| votes cast in % | 99.91 % | 0.08% | 0.01% | |||
| representation of sc in % | 99.91 % | 0.08% | 0.01% | 100.00 % | ||
| total sc in % | 68.39 % | 0.06% | 0.01% | 68.45 % |
| Shares class | FOR | Against | Abstain | Poll in | Poll not |
|---|---|---|---|---|---|
| Total | $1,037,155,288$ 871,780 | 78,078 1,038,105,146 | |||
| Agenda item 7 Authorisation for the Board to acquire treasury shares for the purpose of | |||||
| Ordinær | 1,036,130,445 | 1,896,560 | 78,141 | 1,038,105,146 | |
| votes cast in % | 99.81 % | $0.18 \%$ | 0.01% | ||
| representation of sc in % | 99.81 % | 0.18% | 0.01% | 100.00 % | |
| total sc in % | 68.32 % | $0.13\%$ | 0.01% | 68.45 % | |
| Total | 1,036,130,445 | 1,896,560 | 78,141 | 1,038,105,146 | |
| Agenda item 8 Determination of remuneration to the members of the Corporate Assembl | |||||
| Ordinær | 1,037,992,673 | 405 | 112,068 | 1,038,105,146 | |
| votes cast in % | 99.99 % | 0.00% | 0.01% | ||
| representation of sc in % | 99.99 % | 0.00% | 0.01% | 100.00 % | |
| total sc in % | 68.44 % | $0.00 \%$ | 0.01% | 68.45 % | |
| Total | 1,037,992,673 | 405 | 112,068 | 1,038,105,146 |
Registrar for the company:
Signature company:
NORDEA BANK NORGE ASA
TELENOR ASA
Share information
| Name | Total number of shares Nominal value Share capital | Voting rights | |
|---|---|---|---|
| Ordinær | 1,516,624,271 | 6.00 9,099,745,626.00 Yes | |
| Sum: |
§ 5-17 Generally majority requirement
requires majority of the given votes
§ 5-18 Amendment to resolution
Requires two-thirds majority of the given votes like the issued share capital represented/attended on the general meeting