General meetings are convened by the Company’s Board of Directors. A notice of a general meeting shall be sent at the latest 21 days before the date of the meeting, and shall include a proposal for an agenda for the meeting. A shareholder is entitled to submit proposals to be discussed at general meetings provided, such proposals are to be submitted in writing to the Board of Directors in good time so that they can be entered in the agenda of the meeting. The Company’s Articles of Association do not contain any notice requirements for attending a general meeting.
The ordinary general meeting shall be held within six months from the end of each financial year. The ordinary general meeting shall deal with and decide on the approval of the annual financial statement and directors’ report, including the distribution of any dividend, and such other matters as may be set out in the notice of the meeting.
Extraordinary general meetings can be called by the Board of Directors. In addition, the Board of Directors may call an extraordinary general meeting whenever so demanded in writing by the auditor or shareholders, representing at least 5 percent of the share capital, in order to deal with a specific subject.