Shareholder information
The company's shares are divided into two classes in either A- or P-shares depending on whether a shareholder is categorised as active (A-shares) or passive (P-shares). P-shareholders are not required to actively contribute to the success of the company and can passively enjoy dividend pay-outs and asset accumulation in the company. In addition to spending a minimum of 520 hours annually developing the company, each A-shareholders must provide a £50,000 subordinate interest free loan to the company, take a director position on our board and invest in a minimum of 100,000 Thoresen shares of any class. For this effort, sacrifice and commitment to the company the A-shares have right to vote and right to full dividend. P-shares have no voting rights and limited dividend rights
All A-shareholders will receive equal dividend per share. The dividend per A-share will be 20% of the company’s declared net profit in the previous financial year divided by the number of A-shares plus an amount X per share as decided by the 50% majority of the voting A-shareholders. All P-shareholders receive equal dividend per share. The dividend per P-share will be 50% of the said amount X per share that the A-shareholders agree upon. Dividends shall be payable when director(s) decide so. Dividends shall be entitled to the shareholders according to class and ownership at the time of decision to pay dividend rather than length of ownership or classification
The company will pay for any cost incurred by A-shareholders to perform their tasks defined as active investors assisting with the success of the company. The A-shareholders shall not be entitled to any salary for their active investment contribution to the company unless so is agreed at a general meeting for the company’s members. If the majority of the A-shareholders vote to dissolve the company, each P-share will receive 50% of any per share payout to each A-share following the dissolution. There are no restrictions on the sale of P-shares. A-shares can only be sold to investors that meet all 4 of the previously listed requirements for conversion to A-shares. This applies for new issues of shares as well as second hand sales. In any new issue of shares A-shareholders will receive A-shares for their right to subscribe and P-shareholders will receive P-shares only unless the P-shareholder at the time qualifies to be an A-shareholder, in which case the shareholder can choose to receive A-shares for the right to subscribe. When a P-shareholder qualifies to be an A-shareholder all of his/her/its existing P-shares will converted to A-shares
| List of shareholdings | |
| Ole Thoresen | 996,000 A-shares |
| Total outstanding A-shares | 996,000 A-shares |
| Kaare Andre Hestvik | 50,000 P-shares |
| Stavang Pedersen IT-konsult | 3,000 P-shares |
| Peter A. Cox | 1,000 P-shares |
| Total outstanding P-shares | 54,000 P-shares |
The director of the board
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Ole Thoresen: Masters degree in business administration (NHH). Certificate in Corporate Finance from the British Securities & Investment Institute (SII). He gained invaluable experience from his work as stock broker, corporate financier and chief financial officer. He has worked with leading financial companies including DnB NOR Markets and Handelsbanken Markets in Scandinavia, Banco Santander in Spain and KPMG Corporate Finance in London. He is the author of two financial books: "Valuation of shares" and "Market psychology". More information on Ole Thoresen at LinkedIn.com |