Information and investor relations
Kitron wishes to maintain open communications with its shareholders and other stakeholders. Stakeholders are kept informed by announcements to the Oslo Børs and press releases. Kitron’s website www.kitron.com provides information on Kitron’s business and financial situation. Interim financial statements are presented at meetings open to the general public and are available as webcasts at
www.kitron.com.
Kitron reports all manufacturing orders exceeding NOK 20 million and development and other service orders over NOK 5 million. The group also reports smaller orders if these are of strategic importance or significant in any other way.
The corporate management is responsible for communication activities and investor relations, and also facilitates direct contact with the CEO or board members.
Shareholder structure
At the end of 2009, Kitron had 3,159 shareholders, with foreign shareholdings amounting to 54.8 per cent. The 20 largest shareholders held a total of 86.3 per cent of the company’s shares at year-end.
General meetings
Mandates
Increasing the share capital
The ordinary general meeting of 6 May 2010 authorized the board to execute one or more share capital increases by issuing a number of shares maximized to 10 per cent of Kitron’s registered share capital as at 6 May 2010. The total amount by which the share capital may be increased is NOK 17,296,162.50. The authority applies until the ordinary general meeting in 2011, but in any event expires on 30 June 2011. The authority can be used for acquisitions of and mergers with other companies or businesses or to raise funds.
Own sharesIn accordance with the Norwegian Public Limited Companies Act, the ordinary general meeting of 6 May 2010 authorized the board to acquire Kitron’s own shares, for the purposes of ownership or charge, up to a total nominal value of NOK 17,296,162.50, which is equal to 10 per cent of Kitron’s registered share capital at 6 May 2010. Under the authorization the board shall pay a minimum of NOK 1.00 per share and a maximum of the prevailing market price per share on the day the offer is made, provided, however, that the amount does not exceed NOK 25.00 per share. The authority is valid until the ordinary general meeting in 2011, but in any event expires on 30 June 2011.
Articles of association
Annual general meeting 2010: Protocol
Annual general meeting 2010: Notice
Extraordinary general meeting 2010: Protocol
Extraordinary general meeting 2010: Notice
Annual general meeting 2009: Protocol
Annual general meeting 2009: Notice
Annual general meeting 2008: Protocol
Annual general meeting 2008: Notice
Extraordinary general meeting 2007: Notice
Annual general meeting 2007: Notice
Nomination committee
Kustaa Aima - until the annual general meeting in 2012
Darius Janulevicius - until the annual general meeting in 2011
Arne Solberg - until the annual general meeting in 2011
Dividend policy
The policy of Kitron ASA is to pay dividends corresponding to between 30 and 50 per cent of net profit for the year, provided the company’s share capital and liquidity situation will be acceptable after the dividend has been paid out.
Dividend last three years
|
Amount |
Proposal |
Resolution |
Payment |
| 2006 |
0 |
|
|
|
| 2007 |
0 |
|
|
|
| 2008 |
NOK 0,0578 per share |
24 March |
7 May |
19 May |
| 2009 |
0 |
|
|
|
Account manager
DnB NOR Bank ASA, Verdipapirservice, NO-0021, Oslo, Norway
Phone: +47 22 48 35 80
Fax: +47 22 48 11 71
E-mail:
