Otello Corporation ASA (OTEC) Earnings Call Transcript & Summary

Good morning, everyone. It's 9:00 time. And welcome to the Extraordinary General Meeting of Otello Corporation ASA. My name is Geir Evenshaug. I'm a partner with the law firm Schjødt in Oslo. And the Board of Otello has asked me to open the meeting. I will ask that anyone who is on this call, on this Teams call, we'll go on mute so that we don't have any background noise during the meeting. The record of attending and participating shares and votes show that there is just in excess of 51 million shares and votes represented -- just in excess of 51 million votes represented at the general meeting, which represents approximately 45.5% of the total votes and share capital of the company. The exact numbers and the votes cast which matter on the agenda will be attached to the minutes, which will be available as usual as soon as possible after we conclude this meeting today. Item 2 on the agenda is election of a person to chair the meeting, and the Board has proposed that I chair the meeting. And there are no votes against so I am elected to chair the meeting. Item 3 on the agenda is approval of the calling notice and the agenda. And we have 10,056 votes against, which means that we have a majority of 99.9%, and the calling notice and the agenda has been approved. Item 4 on the agenda is election of a person to co-sign the minutes together with me. And as usual, I propose that the company's General Counsel, Mr. Jason Hoida, be selected to co-sign the minutes. And we have no votes against that so Jason is elected with 100% majority. Item 5 on the agenda is an authorization for the Board to acquire own shares, and as the company has notified to the market on previous occasions that the company has a buyback program. And the previous authorization for the Board to buy back share has been exhausted fully, so the Board asks for a new authorization to continue the buyback program. We have 47,526 votes against the proposed resolution to give the Board such an authority, which means that we have a majority of 99.9%, and the resolution has been approved. And that basically concludes the matters on the agenda. I would just ask if anyone has any questions to the company. From what I'm able to see, there are no questions, and that concludes today's meeting. I then thank everyone for their participation, and I wish everyone a continued good day. Good luck.