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Archer Limited : Minutes from the 2014 Annual General Meeting

Hamilton, Bermuda (September 19, 2014)

Archer Limited (the “Company”) advises that the 2014 Annual General Meeting of the Company was held on September 19, 2014 at 10:00 a.m. at the Elbow Beach Hotel, 60 South Shore Road, Paget PG06, Bermuda. 

The audited consolidated financial statements for Archer Limited for the year ended December 31, 2013 were presented to the Meeting.

Immediately prior to commencement of the Meeting, Mr. Tor Olav Trøim withdrew his nomination and therefore the proposal to re-elect him as a Director of the Company was not considered.

The following resolutions were passed:

  1. To re-elect Kate Blankenship as a Director of the Company.
  2. To re-elect Cecilie Fredriksen as a Director of the Company.
  3. To re-elect Giovanni Dell’Orto as a Director of the Company.
  4. To re-elect John Reynolds as a Director of the Company.
  5. To re-appoint PricewaterhouseCoopers LLP as auditors and to authorized the Directors to determine their remuneration.
  6. That the remuneration payable to the Company’s Board of Directors of a total amount of fees not to exceed US$500,000.00 be approved for the year ended December 31, 2014.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.