No fireworks for Norske Skog's EGM

Jan 06, 2016 at 10:03 pm by Staff


Fireworks are for New Year's Eve, and those who anticipated them at the extraordinary meeting of Norske Skog six days later were disappointed.

As it was, two new members were elected to the board of directors, and presentations noted that a proposal on refinancing by shareholders GSO Capital Partners and Cyrus Capital Partners had been accepted.

Another shareholder, Andreas Myrstad asked for written statement on alternative proposals and why the board had chosen the GSO/Cyrus proposal instead of others.

And that was pretty much it.

The new board members are Joanne Owen and Nils Ingemund Hoff, who join shareholder-elected members Jon-Aksel Torgersen, Eilif Due and Siri Beate Hatlen.

Karin Bing Orgland and Ole Enger had earlier announced their intention to resign, and a proposal to change the composition of the election and remuneration committee was also withdrawn earlier this week.


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