Otello Corporation ASA (OTEC) Earnings Call Transcript & Summary

It's 9 o'clock Norwegian time. Good morning, everyone. This is Geir Evenshaug speaking. I'm a partner with law firm Schjødt in Oslo. And we are starting the Extraordinary General Meeting of Otello Corporation. We have represented at the General Meeting by proxy and voting instructions, approximately [ 100 million ] shares. The exact number will follow from the minutes, which will be made public after the meeting. Item 1 on the agenda is opening of the meeting, which I've just done. Item 2 is election of person to chair the meeting, and the Board has proposed that I chair the meeting. And we have no votes against, so we have 100% majority. Item 3 on the agenda is approval of the closing notice and the agenda. We have 6,100 votes against, which means we have a majority of 99.999%. Item 4 on the agenda is election of a person to cosign the minutes. And as usual, I will then propose that the company's General Counsel, Jason Hoida, cosigns the minutes. And there are no votes against, so we have 100% majority in favor. Item 5 on the agenda is the proposal from Sand Grove to elect a chairperson of the Nomination Committee. And this proposal has been presented in a separate letter from Sand Grove, which has been [Audio Gap]. And we have -- on the proposal from Sand Grove, we have 24,710,464 votes against, which means that we 74,694,516 votes for the proposal, which means that we have a majority in favor of Sand Grove's proposal, approximately 75%, which means that the proposal from Sand Grove has been approved. Item 6 on the agenda is approval of options, and the option program has been presented by the company in a separate stock exchange notification. And it relates to the grant of 3,450,000 options in total. On Item 6, we have approximately 6.9 million votes against, which then means we have approximately 22-something million votes in favor. That represents the majority of approximately 92%, and the option program has been approved as proposed by the Board. That was all of the items on the agenda, short and sweet, and the meeting is then over. And thank you for everyone who called in this morning. Thank you, and goodbye.