Investor NewsSummary of the Annual General Meeting of Origo hf.March 9, 2019

Summary of the Annual General Meeting of Origo hf., held on Thursday, March 7, 2019, at 4.00 p.m.

  1. The AGM approved the Company's financial statements for the year 2018.

  2. Decision on disposal of earnings.
    It was agreed at the AGM that the Company would pay shareholders a dividend of ISK 2.205 per share for the year 2018. The total dividend is approximately ISK 1,000,000,000.The declaration date is March 7, 2019, meaning that shareholders of record at the end of March 11, 2019 (the date of record) are entitled to receive a dividend for the 2018 operating year. The ex-dividend date, i.e. the date on which the stock of the Company starts trading without the right to receive a dividend for the 2018 operating year, is March 8, 2019, being the first business date following the declaration date. Dividends will be paid on March 19, 2019 (the payment date).

  3. Decision to reduce share capital.
    It was agreed at the AGM to decrease the Company's share capital from ISK 465,303,309 in nominal value to ISK 459,600,000 in nominal value, through the cancellation of own shares in the nominal value of ISK 5,703,309. The Board of Directors shall be entitled to update the Company's Articles of Association in accordance with the reduction in share capital.

  4. Decision to amend Article 5.1 of the Company's Articles of Association. Motion defeated.
    The AGM defeated a motion to amend Article 5.1 of the Company's Articles of Association such that the Company's Board of Directors should hereafter be composed of five members and no alternate members. Article 5.1 of the Company's Articles of Association thus remains unchanged. The Board of Directors will continue to be composed of five principal members and one alternate member.

  5. Decision on fees for Board members and for membership of sub-committees.
    It was agreed at the AGM that the monthly fee for the Chairman of the Board should be ISK 590,000 and ISK 270,000 for the other members. The fee for membership of sub-committees will be ISK 62,000 for each meeting.

  6. The Company's proposed compensation policy was approved.

  7. Election to the Board of Directors.
    The following persons were elected without challengers as principal members:
    - Guðmundur Jóhann Jónsson
    - Hildur Dungal
    - Ívar Kristjánsson
    - Hjalti Þórarinsson
    - Svafa Grönfeldt.
    Gunnar Zoëga was elected without challengers as alternate member.

  8. Election of an auditor.
    KPMG was elected as the Company's auditor for the year 2019.

  9. Authorisation to purchase own shares.
    The following motion was approved:
    "On March 7, 2019, the Annual General Meeting of Origo hf. authorises the Company's Board of Directors to purchase, on one or more occasions over the next 18 months, shares in the Company so that the Company along with its subsidiaries will hold, subject to fulfilment of all other legal requirements, up to 10% of its share capital; the total amount of shares so repurchased shall not exceed ISK 45,960,000 in nominal value."

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