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Recommendation of the nomination committee

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Reference is made to the previously published notice of the Annual General Meeting of Interoil Exploration and Production ASA (the "Company") to be held on 28 June 2018. Further to item 6 on the agenda, the Company's nomination committee has recommended that the general meeting approves the following remuneration to the members of the board of directors of the Company for the period from the Annual General Meeting in 2018 to the Annual General Meeting in 2019, in line with the remuneration amounts approved at the Annual General Meeting in 2017:

The Chairman of the Board: NOK 400,000 per annum All other board members: NOK 200,000 per annum (except for those members who have entered into a service agreement with a group company, unless otherwise agreed.)

The nomination committee has further recommended that remuneration is not awarded to the members of the nomination Committee.

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

Interoil Main Office:
c/o Advokatfirmaet Schjødt AS
Ruseløkkveien 14
NO-0251 Oslo, Norway

Phone: (+47) 67 51 86 50
Fax: (+47) 67 51 86 60

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