Schibsted’s AGM took place at the company’s head office today, May 11, 2006 at 1800 hours.
Approval of the annual accounts for the year 2005, including the board of director’s annual report and the proposed dividend
The AGM approved the Annual Accounts for year 2005, incl. the annual report and the proposed allocation of dividend of NOK 4.25 per share, shares owned by Schibsted ASA excluded. The AGM approved the proposed remuneration to the Board members, the Compensation Committee and the Auditor.
Renewal of the proxy granted to the Board regarding the purchase of shares in the name of Schibsted ASA
The AGM decided to renew the Board’s proxy regarding the purchase of shares in the name of Schibsted ASA on the following conditions:
1. The proxy is valid until the next AGM in Schibsted ASA in 2007 (June 30, 2007 at the latest).
2. Nominal value of the shares may not exceed 10 % of the total share capital of Schibsted ASA.
3. The minimum amount payable for the shares is NOK 30 and NOK 500 as a maximum.
4. The Board is free to choose the method of purchase and sale of the shares, though respecting equal treatment of all shareholders.
Election of shareholders’ board members and deputies
All shareholders’ board members’ period of service expired at this AGM: Grete Faremo had informed the Election Committee that she would not stand for reelection. Eva Lindqvist was elected as a new member of the board to replace her. In line with the proposal from the Election Committee, all other members of the board and deputies were re-elected by the AGM.
The Board will hereafter consist of the following shareholders representatives – all elected for 1 year:
Ole Jacob Sunde (chairman)
Tinius Nagell-Erichsen (deputy chairman)
Monica Caneman
Alexandra Bech Gjørv
Cato A. Holmsen
Eva Lindqvist
Christian Ringnes
1st deputy: Carl-Christian Agerup
2nd deputy: John A. Rein
The four employee representatives were elected for 2 years at last year’s AGM. Their service period therefore ends at the AGM in 2007.
Fees to the Board members, their deputies and the Compensation Committee
In line with the proposal from the Election Committee, it was decided that the fees remains unchanged for the period 2006-2007. This means that the fee to the chairman will be NOK 550,000, to other board members NOK 150,000, with the exception of board members living abroad receiving a fee of NOK 225,000 to compensate for additional travel time. The variable part of the fees remains 20 %. The deputies’ fee will be NOK 30,000 plus NOK 10,000 per meeting.
In line with the proposal from the Election Committee, it was decided that the fees to the members of the Compensation Committee should remain unchanged as well. This means that the chairman’s fee will be NOK 50,000 (Ole Jacob Sunde), and the fee to the two other members will be NOK 30,000 (Monica Caneman and Alexandra Bech Gjørv). The fees were fixed in advance for the period 2006-2007.
Election of Election Committee
The members of the Election Committee were re-elected for another 2 years period: Lars A. Christensen (chairman), Tinius Nagell-Erichsen and Gunn Wærsted. Nils Halvard Bastiansen was elected as a new deputy to the Election Committee.
Remuneration to the Election Committee
The proposed remunerations to the Election Committee’s members for the period 2006-2007 were approved: NOK 50,000 to the Chairman of the Election Committee and NOK 30.000 to the other members including the deputy.
All resolutions at the Annual General Meeting were unanimous.
Oslo, May 11. 2006
Schibsted ASA
Kjell Aamot
Chief Executive Officer