REC Silicon ASA ($RECSI)

00:00:00 The time is now 1:00 p.m. Norwegian time, meaning that it's time to welcome the shareholders to an Extraordinary General Meeting in REC Silicon ASA. My name is Thomas Aanmoen, and it's my pleasure on behalf of the Board to declare the EGM for [indiscernible]. As shareholders will have seen from the agenda, I've also been proposed to chair the meeting as an independent Chair. But before we move to the matter of formally electing a Chairperson, I would like to give some practical -- brief practical information with respect to this digital meeting. Logged in shareholders will now have 4 buttons at the top of their screens, which may be clicked on, which are home, messages, voting and documents. By clicking home, you will always find the technical details regarding today's meeting. With that, we'll close the meeting for additional shareholders to log in, and we'll move on to the list of represented shares. And I'll give the floor to DNB Carnegie, who are the registers and who are kindly keeping track of attendance figures and ask them to read them out to you now.

Thank you. The share capital is represented as follows: 50,196,412 shares are represented by advanced votes. 9,434 shares are represented by proxy, 254,117,796 shares are represented by instructions to the Chair of the Board. This sums up to a total of 304,323,642 shares, representing approximately 72% of the voting share capital. Thank you.

Thank you very much. These figures will be presented in the minutes, which will be published after the general meeting is concluded. For this AGM, there are 6 voting items on the agenda. The opportunity to vote on all 6 items should be open. And the first voting item is Item 2, election of Chair of the meeting and a person to co-sign the minutes with the Chair. And as appears on the agenda, the proposal is that the undersigned is elected to chair the meeting in line with tradition, I must even say. And as for a person to co-sign the minutes, I propose that for practical reasons, Associate attorney at law, Katrina [indiscernible] who is present at the location in Oslo, where the meeting is transmitted from is elected. So that is the proposal on agenda Item 2. And I don't believe we have any questions with respect to that. So we can just move to voting on the agenda. Please, if you have not yet voted on agenda Item 2, please do so now. Please vote. [Voting]

The voting is closed. We can conclude that the count shows the item has been approved with requisite majority. Detailed polling results on this agenda item 2 and on every other agenda item will be attached to the minutes of the meeting, and they will be made available as a stock exchange announcement and on the company's website following the meeting today. Moving on to Item 3 for consideration, which deals with the approval of the notice and agenda. The notice was distributed within the 3-week period of the Norwegian Public Limited Companies Act, [Allmennaksjeloven] and was also announced as a stock exchange notice on the 19th of February this year. So at the outset, it seems that the notice of the meeting has been given in the appropriate manner. As regards to the agenda, we'll simply follow the sequence set out in the calling notice. Again, I believe we have received no questions. So we can move to voting. If you have not yet voted, please vote on agenda item 3 now. Please vote. [Voting]

Thank you. The vote is closed and the notice and agenda was approved with requisite majority. Item 4 on the agenda deals with the proposal for share capital reduction and the detailed proposal is stated in the notice of the meeting. The implication of the proposal is that the par value of the company's shares is reduced from NOK 1 to NOK 0.1. No questions and comments. So please vote on Item 4 on the agenda. Please vote. [Voting]

The vote is closed and the account shows that the notice -- that the Item 4 was approved with requisite majority. We can move to Item 5 of the agenda, which deals with the proposal for share capital increase through a rights issue of new shares. The detailed proposal is technical. It's stated in verbatim in the notice of the meeting and the implication of the proposal is that [indiscernible] new shares are offered to shareholders pro rata between them based on their shareholding, their ownership of the company as of today's date and at the fixed subscription price for each shares. No questions have been posted to this agenda item, so we can move to voting on this matter. If you have not yet voted on Item 5 of the agenda, please do so now. Please vote. [Voting]

Voting is concluded, and the account shows that the item was approved with requisite majority. Item 6 of the agenda deals with the proposal for a Board authorization to issue shares that may be used to settle fees to the guarantor for the rights issue. Again, detailed proposal set out in the notice of the meeting. We have no questions to this item on the agenda, so we can move to vote on the matter. If you have not yet voted on Item 6 in the agenda, please vote now. [Voting]

Thank you. Voting is concluded, and the Item 6 on the agenda was approved with requisite majority, which takes us to the final agenda item, which is Item 7, dealing with a change in the Board as proposed by the company's Nomination Committee and as announced on March 2 this year. The stated background for the proposal is that the current Chair of the Board has expressed a need to step down and the Nomination Committee has proposed that Mr. Jong Wook Park is elected as new Chair of the Board. No other changes to the Board proposed. And we have not received any questions to this item, so we can then move to voting on the matter. If you have not yet voted on Item 7 on the agenda, please vote now. [Voting]

Voting is concluded, and the proposal on agenda Item 7 was approved with requisite majority. And that concludes all matters on the agenda for the EGM, and I may then declare the EGM for concluded. On behalf of REC Silicon ASA, I would once again like to thank the shareholders for participating in the company's affair. And the minutes of the meeting will be made available as a stock exchange notice and on the company's web as soon as they're ready later this afternoon, Norwegian time. Thank you for participating.