Odfjell Drilling Ltd.
At the extraordinary general meeting of Odfjell Drilling Limited 22 July 2025, Folketrygdfondet, the manager of the Government Fund in Tromsø, will vote against proposals 1 and 2 for the following reasons:
Proposal 1: To approve an amendment to the Executive Remuneration Policy to include a share option program for the directors.
We believe that the remuneration of the board of directors should not be linked to the company's performance as this could undermine the board's independence . Also, the Norwegian Corporate Governance Board's (NUES) Code of Practice (item 11) recommends that companies should not grant share options to board members. For this reason we vote against this item as a matter of principle.
Proposal 2: To approve share options being granted to Simen Lieungh as Chair of the Company's Board.
We vote against this item for the same reason as Proposal 1.