Frontline plc (the “Company”) advises that the 2023 Annual General Meeting of the Shareholders of the Company was held on 12 December 2023 at 09:00 a.m. at Soteriou Tofini Street 4, Ayios Athanasios, 4102 Limassol, Cyprus. The audited consolidated financial statements for the Company for the year ended 31 December 2022 were presented to the Meeting.
In addition, the following resolutions were passed:
To re-elect John Fredriksen as a Director of the Company.
To re-elect James O’Shaughnessy as a Director of the Company.
To re-elect Ola Lorentzon as a Director of the Company.
To re-elect Ole B. Hjertaker as a Director of the Company.
To re-elect Steen Jakobsen as a Director of the Company.
To re-elect Marios Demetriades as a Director of the Company.
To elect Cato Stonex as a Director of the Company.
To re-appoint PricewaterhouseCoopers of Limassol, Cyprus as auditors and to authorise the Directors to determine their remuneration.
To approve the remuneration of the Company’s Board of Directors of a total amount of fees not to exceed USD 600,000 for the year ended December 31, 2023.
To amend the Articles of Association of the Company.
To approve with effect from 12:00 p.m. (Cyprus time) on 12th December, 2023 (the “Effective Date”) and for a period of twelve (12) calendar months from the Effective Date the exclusion of the shareholders’ right of pre-emption with respect to any offer by the Company to the public against cash consideration, as may be decided by the Board of Directors from time to time, of a maximum of 377,377,111 ordinary shares of nominal value USD 1 each ranking pari passu with the existing ordinary shares of the Company at a subscription price which shall be determined by the Board of Directors not lower than USD 1 per share.
To approve with effect from 12:00 pm (Cyprus time) on 12th December, 2023 (the “Effective Date”) and for a period of twelve (12) calendar months from the Effective Date the exclusion of the shareholders’ right of pre-emption with respect to any offer by the Company to the public for cash consideration as may be decided by the Board of Directors from time to time, of a maximum of 377,377,111 debentures or other securities convertible into ordinary shares of nominal value USD 1 each ranking pari passu with the existing ordinary shares of the Company or options or other securities carrying the right to subscribe for ordinary shares of the Company of nominal value USD 1 each ranking pari passu with the existing ordinary shares of the Company at a subscription price which shall be determined by the Board of Directors not lower than USD 1 per security.
To approve the Company’s proposed Remuneration Policy with respect to the Company’s Directors pursuant to the provisions of The Encouragement of Long-Term Shareholders Engagement Law 111(I)/2021.
To approve on an advisory vote basis the Company’s Remuneration Report for the year ended December 31st, 2022 pursuant to the provisions of the Encouragement of Long-Term Shareholders Engagement Law 111(I)/2021.
12 December 2023
The Board of Directors
Frontline plc
Limassol, Cyprus
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
