REC ASA - Minutes from the Annual General Meeting

The Annual General Meeting of the shareholders of Renewable Energy Corporation ASA ("REC" or the "Company") was held on May 19, 2009 at 14:00 (Oslo time) in Oslo Konserthus in Oslo.

The minutes from the Annual General Meeting recording the resolutions made are enclosed hereto, and are also available on REC`s website at www.recgroup.com.
 
The board had amended their original proposals as set out in the notice with respect to the following items:
  • The requested board authorisation to increase the share capital regarding the employee share purchase program was decreased to maximum NOK 2,000,000. The requested authorisation to increase the share capital by up to NOK 49, 000, 000 to ensure that the Company has sufficient financial flexibility with respect to capital expenditure and related working capital requirements and acquisitions was upheld. (Item 9)
  • The maximum loan amount that could be raised under the board convertible loan authorisation was increased to maximum NOK 4,900,000,000 (the corresponding maximum share capital increase by maximum 49, 000,000 was upheld as originally proposed). (Item 11)
  • A minor adjustment to the board's statement on compensation to leading employees was made, as set out in the minutes. (Item 7 part 2.)
As follows from the minutes, the general meeting adopted all resolutions as proposed by the board.
 
For more information, please contact;
Jon André Løkke, SVP & Investor Relation Officer, +47 907 44 949
 
 
About REC
REC is the leading vertically integrated player in the solar energy industry. REC Silicon and REC Wafer are among the world's largest producers of polysilicon and wafers for solar applications, and REC Solar is a rapidly growing manufacturer of solar cells and modules. REC Group had revenues of NOK 8,191 million and an operating profit of NOK 2,529 million in 2008. About 2,500 employees work in REC's worldwide organization. Please also see www.recgroup.com.
 
Minutes from AGM_EnglishMinutes from AGM_Norwegian
Attachments:
Minutes from AGM_English
Minutes from AGM_Norwegian