Du är här

2015-09-09

Scana Industrier asa: SCANA INDUSTRIER ASA - EXTRAORDINARY GENERAL MEETING - NOMINATION COMMITEE

With reference to the announcement of 20 August 2015 regarding extraordinary
general meeting on the 10 September 2015.

The Board of Directors have had the following members after the annual General
Meeting in May:

* Bjørn Torkildsen (Chairman of the Board) (2014-2016)
* John Arild Ertvaag (Deputy Chairman) (2015-2017)
* Elisabeth Saupstad (2014-2016)
* Per Ravnestad (2014-2016)
* Martha K. Bakkevig (2015-2017)

Chairman of the Board Bjørn Torkildsen is from 1 September the companys new
CEO and resigned from the board the same date. Deputy Chairman also wanted to
leave the Board.

New representatives need to be selected for both positions. Since the two
board members who leave the board have the positions as Chairman and Deputy
Chairman, it must also be determined who will take over these functions.

The Nomination Committee suggests the following:
The Nomination Committee has been in contact with some of the Board members
and the largest owners of the company. The Nomination Committee finds that
the restructuring and reform process that the company has been through now
essentially has been clarified. There will still be a need for continuity in
the Board to get the full effect of the restructuring and reform process,
however necessary continuity in the Board should be handled by the three
remaining directors while these also have good relations with the new CEO.
The Election Committee proposes the election of two new board members
recruited from the largest shareholders in the company. The two proposed is
Sindre Ertvaag and Carl Christian Krefting.

As new Chairman and Deputy Chairman are proposed respectively Per Ravnestad
and Martha K. Bakkevig. They are both in the Board of Directors today and
they have both been in the Board for several years. Thereby safeguarding the
need for the required insight and continuity on the board going forward in
time.

The nomination committees proposal for board composition is:

* Per Ravnestad, Chairman of the Board for the period 2015-2016
* Martha K. Bakkevig, Deputy Chairman for the period 2015-2017
* Carl Christian Krefting, Board member for the period 2015-2017
* Sindre Ertvaag, Board member for the period 2015-2016.
* Elisabeth Saupstad, Board member for the period 2014-2016.

They all have agreed to the positions.

The term that is now proposed for the three former board members is based on
the term they are currently selected for, even though two of them get a new
feature, respectively Chairman of the Board and Deputy Chairman. The term for
the two new board members are proposed respectively 2 years and 1 year based
on the fact that respectively two and three directors should be elected
annually. The term for the new Chairman of the Board (1 year) and new Deputy
chairman (2 years) is based on that these should not be up for election in
the same year.

The nomination committees take into account all these considerations.

Compensation:
Board compensation for 2015-2016 was approved by the AGM on 26 May 2015.

Compensation to the two resigning directors (Chairman and Deputy Chairman) is
determined as 3.5/12 previously stipulated fees for both Chairman and Deputy
Chairman, ie respectively NOK 116,667.- and NOK 87,500.-. The fee for the two
new Board members is determined as 8.5/12 of the approved remuneration for
Board members, ie NOK 177,083.-. For the new Chairman and Deputy Chairman,
who where former Board members, the fee for 2015-2016 is set to previously
established Board member fee for 3.5/12 of the period, and payment for the
positions as Chairman and Deputy Chairman is set to previously established
fixed remuneration for these functions in 8.5/12 period, which gives a total
of NOK 356,250.- for the Chairman of the Board, and NOK 285,417.- for the
Deputy Chairman.

For the nomination and compensation committees work in connection with the
Extraordinary General Meeting in September 2015 proposed compensation are set
to:

* Chairman: NOK 20,000.-
* Other members: NOK 12,000.-

All information about the Extraordinary General Meeting is available on
Scana's website atwww.scana.no.

For further information please contact:

Mr. Kjetil Flesjå, CFO Scana Industrier ASA, Mobile: +47 900 41 213

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

---------------------------------------

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Scana Industrier asa via Globenewswire

HUG#1950813

Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.