| Lundin
Petroleum annual general meeting
Posted: 23 May 2003
The Company´s and the Group’s income statements and
balance sheets were adopted and the Board of Directors and the President
were discharged from liability for the financial year 2002.
Adolf H. Lundin, Carl Bildt, C. Ashley Heppenstall, Kai Hietarinta,
Ian H. Lundin, Lukas H. Lundin, William A. Rand och Magnus Unger
were re-elected Directors of the Board.
Alexandre Schneiter declined re-elction.
The Meeting resolved that no dividends should be paid for the year
2002.
Further, the Meeting resolved, in accordance with the Board of
Directors’ proposal:
- to authorize the Board of Directors to issue no more than 27,000,000
new shares and thereby be able to resolve to disapply the shareholders
pre-emption rights in order to enable the company to raise capital
for the company’s business operations and business acquisitions;
and
- to issue no more than 3,400,000 warrants in order to secure fulfilment
of the obligation to grant options in accordance with the company’s
share option plan, based on stock options (Sw. personaloptioner).
The warrants may be exercised from 31 May 2004 up to and including
31 May 2006 at an exercise price corresponding to the average quoted
price of the company’s shares during the period from 26 May
2003 up to and including 10 June 2003.
Lundin Petroleum is a Swedish independent oil and gas exploration
and production company with a well balanced portfolio of world-class
assets in Albania, France, Indonesia, Iran, Netherlands, Norway,
Sudan, Tunisia and Venezuela. The Company is listed on the New Market
at Stockholmsbörsen, Sweden (ticker “LUPE”).
Posted by Richard Price,
Editor Pipeline Magazine
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