Northern Ocean Ltd. (the “Company”) advises that the 2020 Annual General Meeting
of the Shareholders of the Company was held on August 31, 2020 at 11:30 a.m. at
Par-la-Ville Place, 4th Floor, 14 Par-la-Ville Road, Hamilton Bermuda. The
audited consolidated financial statements for the Company for the year ended
December 31, 2019 were presented to the Meeting.
In addition, the following resolutions were passed:
1. To set the maximum number of Directors to be not more than eight.
2. To resolve that vacancies in the number of Directors be designated as casual
vacancies and that the Board of Directors be authorised to fill such vacancies
as and when it deems fit.
3. To re-elect Gary W. Casswell as a Director of the Company.
4. To re-elect James Ayers as a Director of the Company.
5. To re-elect Joao Saraiva e Silva as a Director of the Company.
6. To re-elect Ole Falk Hansen as a Director of the Company.
7. To re-elect Bote de Vries as a Director of the Company.
8. To re-appoint PricewaterhouseCoopers of Oslo, Norway, as auditor and to
authorize the Directors to determine their remuneration.
9. To approve remuneration of the Company’s Board of Directors of a total amount
of fees not to exceed US$400,000 for the year ended December 31, 2020.
August 31, 2020