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General meeting of HydrogenPro AS

At the general meeting of HydrogenPro AS on 31 May 2021, Folketrygdfondet will vote against agenda items 8 and 11 for the following reasons:

Item 8: Board authorisation to acquire own shares – share incentive programme

Folketrygdfondet is fundamentally opposed to the issue of options to board members. This also follows from section 11 of the Norwegian Code of Practice for Corporate Governance, which states that such arrangements may undermine board independence.

Since the 2020 annual report of HydrogenPro AS states (in Note 12) that board members have been allocated share options in the company, Folketrygdfondet will vote against the authorisation to acquire own shares in connection with the option programme.

Item 11: Board authorisation to increase share capital – share incentive programme

Folketrygdfondet is fundamentally opposed to the issue of options to board members. This also follows from section 11 of the Norwegian Code of Practice for Corporate Governance, which states that such arrangements may undermine board independence.
Since the 2020 annual report of HydrogenPro AS states (in Note 12) that board members have been allocated share options in the company, Folketrygdfondet will vote against the authorisation to increase share capital in connection with the option programme.
 

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