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Kaupthing Búnadarbanki - Results of Shareholders Meeting 26 May 2003   27.5.2003 09:22:48
News categories: Shareholder meetings      Íslenska  English

The following proposals of the Boards of Directors of Kaupthing Bank and Búnadarbanki Íslands were unanimously approved at a shareholders’ meeting in the merged bank on Monday 26 May 2003.

 

1.      Proposal on amendments to the Articles of Association

 

The name of the company pursuant to Article 1 of the Articles of Association will be Kaupthing Bunadarbanki hf., and the address pursuant to Article 2 will be Austurstræti 5, 101 Reykjavík, Iceland.

 

Pursuant to Paragraph 1 of Article 19 of the Articles of Association, the number of members of the board of directors will be increased from seven to nine, and the number of substitutes will be increased by the same number.

 

The following provision is inserted into Article 4 of the company’s Articles of Association and will become Paragraph 7, Article 4.

The Board of Directors of the Company is authorised to increase the share capital of the Company by up to ISK 500,000,000 nominal value by issuing up to 50,000,000 new shares.  The current shareholders shall not have pre-emptive rights to the new shares, pursuant to Article 34 of Act no. 2/1995 on Public Limited Companies. The new shares shall belong to the same class and carry the same rights as other shares in the Company.  The new shares shall grant rights within the Company as of the date of registration of the increase of share capital.  The Board of Directors of Kaupthing Bank is authorised to determine more specifically how this increase will be executed, with reference to price and terms of payment. This authorisation expires on 25 May 2008. The Board of Directors of the Company is authorised to receive valuables for the new shares from the subscribers other than cash.”

Provisions of Paragraphs 6 and 7 of Article 4 of the current Articles of Association are cancelled.

 

2.            The following people were elected on to the Board of Directors of Kaupthing Bunadarbanki

 

Board of Directors:

 

1.      Sigurdur Einarssonresident in Iceland, elected on to Board of Kaupthing Bank in 2003. Executive Chairman of Kaupthing Bank

2.      Hjörleifur Jakobssonresident in Iceland, elected on to Board of Búnadarbanki in 2003. CEO of Olíufélagið hf.

3.      Tommy Persson resident in Sweden, elected on to Board of Kaupthing Bank in 2002. CEO of Länsförsäkringar AB.

4.      Gunnar Páll Pálssonresident in Iceland, elected on to Board of Kaupthing Bank in 2001. CEO of Verslunarmannafélag Reykjavíkur, Store and Office Worker’s Union of Reykjavík.

5.      Jón Helgi Gudmundssonresident in Iceland, elected on to Board of Búnadarbanki in 2002. CEO of BYKO.

6.      Finnur Ingólfssonresident in Iceland, elected on to Board of Búnadarbanki in 2003. CEO of  VÍS, Iceland Insurance Company Ltd.

7.      Ásgeir Thoroddsenresident in Iceland, elected on to Board of Kaupthing Bank in 2003, Attorney at Law.

8.      Peter Gatti – resident in Germany, newly elected. Managing Director of Hauck & Aufhäuser.

9.      Bjarnfredur Ólafssonresident in Iceland, newly elected. Attorney at Law.

 

Substitutes:

1.      Gudmundur Hjaltason resident in Iceland, CEO of Ker.

2.      Hreinn Jakobssonresident in Iceland, CEO of Skýrr.   

3.      Hannes Smárason – resident in Iceland, CFO of Decode.

4.      Antonio Yerolemouresident in England, Executive Chairman of KFF.

5.      Jón Thór Hjaltason – resident in Iceland. Director.

6.      Margeir Daníelsson – resident in Iceland. CEO of Samvinnulifeyrissjodurinn.

7.      Julianna Borsos-Torstiliaresident in Finland, Vice President of Kaupthing Sofi.

8.      Thórdur Magnússon – resident in Iceland, MBA, University of Minnesota.

9.      Panikos Joannou Katsourisresident in England, Finance Director of KFF.

 

 

Pursuant to Act no. 161/2002 on Financial Undertakings, the approval of the Financial Supervisory Authority is required, following the approval of shareholders’ meetings in the Bank. It is hoped that this approval will have been given by 27 May, which then will be the first day of operations for the merged bank. On Tuesday 27 May trading will be closed in shares in Búnadarbanki Íslands and Kaupthing Bank on the Iceland Stock Exchange, and in shares in Kaupthing Bank on Stockholmsbörsen. The Bank’s headquarters will be at Austurstræti 5, 101 Reykjavík, Iceland. Kaupthing Bunadarbanki will move to its new headquarters in Borgartún 19, 105 Reykjavík, Iceland in November 2003.

 

For further information please contact:

 

Sólon Sigurdsson, CEO, tel: +354 525-6108

Hreidar Már Sigurdsson, CEO, tel: +354 515-1676

 


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