PROPOSALS FROM THE NOMINATIONS COMMITTEE
(Thomson Reuters ONE) -
ITEM 5: APPROVAL OF THE BOARD OF DIRECTORS' FEE FROM 1 JANUARY 2011 UNTIL THE
ANNUAL GENERAL MEETING IN 2012
Cash compensation to the Board of Directors
The Nominations Committee proposes that the Board of Directors are compensated
annually (12 months) as follows:
Chairman NOK 350.000
Deputy Chariman NOK 235.000
Board member NOK 170.000
Annual Grant of Share Options to Non Executive Directors
Algeta competes for boardroom talent in a competitive international marketplace.
As a private company Algeta offered a substantial share option package in order
to attract a suitable Chairman (now Deputy Chairman).
Algeta has embarked upon, and expects to continue, the very necessary process of
strengthening its board as it progresses towards bringing a drug to market. To
consolidate and continue this process the Committee believes that the company
must maintain an internationally competitive remuneration policy in respect of
its directors. To this end a survey of the remuneration of US and European
directors of comparable companies has been commissioned from consultants, and
based on their report a recommendation is being put to the AGM that henceforth
directors receive an annual grant of options over Algeta shares in addition to a
cash fee.
The nominations Committee proposes that the Board of Directors are granted stock
options as follows:
From annual general meeting in 2011 until annual general meeting in 2012,
vesting quarterly:
Options for 8000 shares
ITEM 6: APPROVAL OF THE REMUNERATION OF THE NOMINATION COMMITTEE, REMUNERATION
COMMITTEE AND AUDIT COMMITTEE FROM 1 JANUARY 2011 UNTIL THE ANNUAL GENERAL
MEETING IN 2012
Cash compensation to Committee Chairs and Members
The Nominations Committee proposes that the Committees are compensated annually
(12 months) as follows:
Committee Chair NOK 60.000
Committee Member NOK 30.000
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
PROPOSALS FROM THE NOMINATIONS COMMITTEE:
http://hugin.info/134655/R/1505670/440511.pdf
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
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originality of the information contained therein.
Source: Algeta ASA via Thomson Reuters ONE
[HUG#1505670]
Unternehmensinformation / Kurzprofil:
Datum: 12.04.2011 - 17:32 Uhr
Sprache: Deutsch
News-ID 53437
Anzahl Zeichen: 3118
contact information:
Town:
Oslo
Kategorie:
Business News
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