SpareBank 1 SMN : Resolutions of the Supervisory Board
The Supervisory Board has at its meeting on 26 March 20120 adopted the following resolutions:
Approval of the annual accounts for 2019, including application of the profit for the year.
- The supervisory board approved the board of directors’ proposal regarding the annual accounts and the management report for 2019.
- The supervisory board approved the board of directors’ revised proposal for application of the net profit, including payment of dividend of NOK 5.00 per equity certificate, altogether totalling NOK 647m, to equity certificate holders as at 26 March 2020 with payment taking place on 3 April 2020. SpareBank 1 SMN’s equity certificates are quoted ex dividend on 27 March 2020.
- The supervisory board also approved the board of directors’ revised recommendation to allocate NOK 364m to non-profit causes, of which NOK 164m goes to the foundation Sparebankstiftelsen SMN and NOK 200m as donations to non-profit causes. The dividend equalisation fund and the ownerless capital receive NOK 749m and NOK 422m respectively.
- The supervisory board voted in accordance with the board of directors’ recommendation that SpareBank 1 SMN should make a group contribution totalling NOK 6,516,401.
- The board of directors is authorised to distribute the amount allocated to non-profit causes.
Senior employees' terms and conditions and the corporate governance report were also dealt with.
Authorisation to raise subordinated debt and issue hybrid capital
The Supervisory Board authorised the Board of Directors to raise subordinated loans and hybrid capital, collectively or separately, in Norwegian currency or the equivalent in foreign currency, distributed as follows:
Subordinated debt NOK 1,000m
Hybrid capital NOK 1,000m
The authorisation remains valid until the final accounts for 2020 are adopted.
Authorisation to acquire and establish a security interest in the Bank’s own equity certificates
The Supervisory Board resolved to authorise the Board of Directors to acquire, and to establish a security interest in, the Bank's treasury ECs in a total nominal amount of NOK 200m within the limits set forth in law and regulations and subject to the following conditions:
- The overall holding of ECs owned by the Bank and/or in which it has a consensual security interest may not exceed 5 per cent of the Bank's issued EC capital.
- The smallest amount payable for the ECs is NOK 1 and the highest amount is NOK 200.
- This limit also applies to any consensual security interest such that the claim which the security interest is to cover must be within the said amount limits.
- Acquisition of ECs shall take place through purchase in the securities market via Oslo Børs and disposal shall take place through sale on the same market, in the event as a private placing with employees in accordance with applicable laws and regulations.
- The authorisation is valid for 18 months as from 27 March 2020.
- The authorisation replaces the existing repurchase authorisation.
Election of chair of the Supervisory Board
Re-election of Knut Solberg chair for a two-year term.
Election of members of the Board of Directors
Re-election of Janne Thyø Thomsen as board member for a two-year term.
Re-election of Mette Kamsvåg as board member for a two-year term.
Re-election of Tonje E. Foss as board member for a two-year term.
Election of deputy chair of the Board of Directors
Bård Benum re-elected deputy chair of the Board of Directors for a one-year term
Elections to the Supervisory Board's election committee
Marit Dille was re-elected as representative for the costumers for a period of two years.
Rolf Bratlie was re-elected as representative for the employees for a period of two years.
Lilly Gunn Nyheim was elected as representative for the public appointees for a period of two years.
Marit Collin was re-elected as alternate for the EC holders for a period of two years
Elin Hagerup was re-elected as alternate for the costumers for a period of two years
Stig Klomsten was re-elected as alternate for the public appointees for a period of two years.
Anders Skrove was re-elected as alternate for the employees for a period of two years.
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
Nordisk næringsliv fokuserer på innovasjon og forbedring av kundeopplevelsen27.1.2020 10:00:00 CET | Pressemelding
Rapporten ISG Provider Lens™ viser at selskaper i regionen henvender seg til leverandører av digitale forretningstjenester for hjelp med analyse, kunstig intelligens og andre teknologier STOCKHOLM i Sverige, Jan. 27, 2020 (GLOBE NEWSWIRE) -- Næringslivet i de nordiske landene fokuserer på å forbedre kundeopplevelsen og innovasjonen, og kontakter leverandører av digitale forretningstjenester for å nå målene sine. Dette viser en ny rapport som ble publisert i dag av Information Services Group ( ISG ) (Nasdaq: III ), et verdensledende teknologisk forsknings- og rådgivningsselskap. Rapporten 2019-2020 ISG Provider Lens™ Digital Business – Solutions and Service Partners for Norden viser at bedrifter i regionen omfavner teknologier som dataanalyse, kunstig intelligens, tingenes internett og blokkjeder for å levere kvalitetstjenester til kundene sine og for å skille ut seg fra konkurrenter. «Nordiske bedrifter søker transformasjonstjenester fra IT-leverandører for ikke bare å bli veiledet gje
UPM commits to UN Business Ambition for 1.5°C to mitigate climate change27.1.2020 10:00:00 CET | Press release
(UPM, Helsinki, 27 January 2020 at 11:00 EET) – UPM commits to the United Nations Global Compact’s Business Ambition for 1.5°C, joining leading companies in a promise to pursue science-based measures to limit global temperature rise to 1.5°C. UPM will strive to mitigate climate change and drive value creation through innovating novel products, committing to a 65% CO2 emission reduction and by practicing sustainable forestry. The 1.5°C ambition is a response to increasing concern about the severe consequences of a failure to stop global warming. UPM is among the first global forest industry companies making this commitment. “UPM has a unique opportunity to make a positive impact and contribute to mitigating climate change by tangible actions. We innovate climate-positive products and turn them into growing businesses. At the same time, we limit risks from climate mitigation policies and physical impacts of changing climate. This is important for the long-term value of the company,” says
Valmet to supply a board machine rebuild to Umka in Serbia27.1.2020 10:00:00 CET | Press release
Valmet Oyj’s press release on January 27, 2020 at 11:00 a.m . EET Valmet will supply a board machine rebuild to Umka Cardboard Mill in Serbia. The main target of the rebuild is to increase the customer’s production capacity. The start-up of the rebuilt paper machine PM 1 is scheduled for the second half of 2021. The order is included in Valmet's orders received of the fourth quarter 2019. The value of the order will not be disclosed. The total value of an order of this type is typically around EUR 15-20 million. "This rebuild is one of the most important strategic decisions we have made in the course of 80 years long history of the mill. We are pleased that this project is going to be completed by Valmet, a global leader in the supply of process technology in the paper industry. I strongly believe in the success and bright future of Umka Cardboard Mill, with planned capacity of over 200,000 tonnes, further quality improvements and wider product portfolio,” says Milos Ljusic, Managing D
Nordic Enterprises Focus on Innovation and Improving Customer Experience27.1.2020 10:00:00 CET | Press release
ISG Provider Lens™ report finds companies in the region turning to digital business services providers for help with analytics, artificial intelligence and other technologies STOCKHOLM, Sweden, Jan. 27, 2020 (GLOBE NEWSWIRE) -- Enterprises in the Nordic countries are focused on improving customer experience and enhancing innovation, and they are turning to digital business service providers to achieve their goals, according to a new report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm. The 2019-2020 ISG Provider Lens™ Digital Business – Solutions and Service Partners Report for the Nordics finds enterprises in the region embracing technologies such as data analytics, artificial intelligence, the Internet of Things and blockchain to deliver quality services to their customers and to differentiate themselves from competitors. “Nordic enterprises are seeking transformation services from IT providers to not only ta
Nordiska företag fokuserar på innovation och förbättrar kundupplevelsen27.1.2020 10:00:00 CET | Pressemelding
Rapport från ISG Provider Lens™ visar att företag i regionen vänder sig till leverantörer av digitala företagstjänster för hjälp med analys, artificiell intelligens och annan teknik STOCKHOLM, Sverige, Jan. 27, 2020 (GLOBE NEWSWIRE) -- Företag i Norden är inriktade på att förbättra kundupplevelse och innovation, och de vänder sig till leverantörer av digitala företagstjänster för att uppnå sina mål, enligt en ny rapport publicerad idag av Information Services Group ( ISG ) (Nasdaq: III ), ett ledande företag inom global teknikforskning och -rådgivning. Rapporten Digital verksamhet – lösningar och servicepartners2019–2020 från ISG Provider Lens™ för Norden visar att företag i regionen anammar teknik som dataanalys, artificiell intelligens, sakernas internet och blockkedja för att leverera kvalitetstjänster till sina kunder och för att utmärka sig bland konkurrenterna. ”De nordiska företagen söker transformationstjänster från IT-leverantörer för att inte bara ta dem genom sina digitala r
Roche submits supplemental Biologics License Application to the FDA for Tecentriq in combination with Avastin for the most common form of liver cancer27.1.2020 07:00:00 CET | Press release
·Application is being reviewed under FDA’s Real-Time Oncology Review pilot programme Basel, 27 January 2020 – Roche (SIX: RO, ROG; OTCQX: RHHBY) today announced the completion of a supplemental Biologics License Application (sBLA) submission to the US Food and Drug Administration (FDA) for Tecentriq® (atezolizumab) in combination with Avastin® (bevacizumab), for the treatment of people with unresectable hepatocellular carcinoma (HCC) who have not received prior systemic therapy. The FDA is reviewing the application under the Real-Time Oncology Review pilot programme, which aims to explore a more efficient review process to ensure safe and effective treatments are available to patients as early as possible. In July 2018, the FDA granted Breakthrough Therapy Designation for Tecentriq in combination with Avastin in HCC based on data from an ongoing Phase Ib trial. “Liver cancer is the most rapidly increasing cause of cancer-related death in the United States. In the IMbrave150 study, Tece