Board of Directors

Directorships and shareholdings at 1 January 2008

 

1

Mogens Hugo, Managing Director, born in 1943. Member of the Board and Chairman since 1995. Most recently re-elected in 2005. Term expires in 2008. Number of shares held: 11,000 (+3,600). Directorships etc. in other companies and organisations in Denmark and abroad: GN Store Nord A/S (CB), Amminex A/S (CB), Danelec Electronics A/S (CB), Nordea Danmark- Fonden (CB), Aagaard – Bræmer Holding A/S (CB).

 

Alison J. F. Riegels, Managing Director, born in 1947. Member of the Board and Vice Chairman since 1985. Most recently re-elected in 2006. Term expires in 2009. Number of shares held: 3,100 (unchanged). Directorships etc. in other companies and organisations in Denmark and abroad: A/S Motortramp (MD, BM).

 

Einar K. Fredvik, Managing Director, born in 1938. Member of the Board since 2005. Most recently re-elected in 2007. Term expires in 2009. Number of shares held: 0 (unchanged). Directorships etc. in other companies and organisations in Denmark and abroad: Nortrans Touring AS (BM).

 

Erling Højsgaard, Managing Director, born in 1945. Member of the Board since 1989. Most recently re-elected in 2006. Term expires in 2008. Number of shares held: 44,345 (+7,345). Directorships etc. in other companies and organisations in Denmark and abroad: A/S Motortramp (VCB), Navision Shipping Company A/S (CB) og Danbulk A/S (BM).

 

Dag Rasmussen, Managing Director, born in 1968. Member of the Board since 2007. Most recently re-elected in 2007. Term expires in 2009. Number of shares held: 0 (unchanged). Directorships etc. in other companies and organisations in Denmark and abroad: Einar Rasmussen Investment A/S (BM), Rasmussengruppen AS (MD and BM) (also: BM of Avantor AS and other wholly-owned subsidiaries of Rasmussengruppen AS), Start Toppfotball AS (BM) and ”Skipskredittforeningens stiftelse for maritime forskning på Sørlandet” (BM).

 

Anton Kurt Vendelbo Christensen, Third Engineer, born in 1946. Elected employee representative since 2006. Term expires in 2008. Number of shares held: 5,200 (unchanged).

 

7. Egon Christensen, Captain, born in 1952. Elected employee representative since 2004. Term expires in 2008. Number of shares held: 200 (unchanged).

 

8. Ole Clausen, Senior Claims Manager, born in 1956. Elected employee representative since 2004. Term expires in 2008. Number of shares held: 200 (unchanged). Number of share options held: 6,620 (of which 3,780 were granted in 2006 and 2,840 in 2007).

 

CB: Chairman of the Board. VCB: Vice Chairman of the Board. BM: Board Member. MD: Managing Director.

 

Numbers in brackets next to number of shares represent the change in holdings of shares since the annual report for 2006. In addition to shares held personally or through companies controlled by them, Alison J.F. Riegels and Erling Højsgaard are associated with A/S Motortramp, which holds 11,851,240 shares and Einar K. Fredvik and Dag Rasmussen are associated with Kristiansands Tankrederi AS, which holds 9,592,700 shares.

 

The ordinary emoluments of the members of the Board of Directors are determined by the shareholders in general meeting. For 2007, the total emolument is proposed to amount to USD 1.0 million (USD 0.5 million in 2006).