Íslandsbanki‘s Annual General Meeting (AGM) was held today, Thursday 17 March 2022, at Grand Hotel Reykjavík. Electronic participation was available. Hallgrímur Snorrason, the departing Chairman of the Board of Directors, presented the report of the Board of Directors and Birna Einarsdóttir, CEO, presented the Bank's annual financial statements for 2021 and discussed the main aspects of the Bank’s operations in 2021. The Bank’s annual financial statements and a proposal to pay a dividend of ISK 5.95 per share, amounting to approximately ISK 11.9 billion, were approved. The meeting decided that Ernst & Young would continue to serve as the Bank’s auditor.
The AGM approved the Board of Directors proposal on the authorisation to acquire on behalf of the Bank up to 10% of issued share capital of the Bank. The authorisation shall be used to set up a formal share repurchase program or for the purpose of offering shareholders generally to sell their shares to the Bank e.g. through auction where equal treatment of shareholders is ensured or by other means the Board of Directors deems favourable for the Bank and its shareholders.
The Board of Directors were elected by acclamation. The Board of Directors is now represented by the following seven Board members:
- Anna Þórðardóttir
- Ari Daníelsson
- Finnur Árnason
- Frosti Ólafsson
- Guðrún Þorgeirsdóttir
- Heiðrún Jónsdóttir
- Tanya Zharov
Finnur Árnason was elected the Chairman of the Board of Directors.
The Board of Directors is now presented by the following two alternates:
- Herdís Gunnarsdóttir
- Páll Grétar Steingrímsson
The Board of Directors’ proposal on the remuneration to the Board of Directors and compensation to the members of the Board’s sub-committees was approved by the AGM. The AGM also approved the Bank’s Remuneration Policy and Bank’s Nomination Committees’ Rules of Procedure unchanged.
The attached document details the results of the meeting further.