The Board of Directors of Aktieselskabet POTAGUA has decided that in the long term POTAGUA will not be the ideal majority shareholder of FLS Industries A/S. The POTAGUA Board of Directors will therefore propose a change in the Board of Directors of FLS Industries at the latter's Annual General Meeting in April.
Mr Michael Arnstedt and Mr Christian Kjær, who are Vice Chairmen of the FLS Industries Board of Directors, and Mr Jens Münter will retire from the Board. Mr Jens Stephensen will then be nominated as a new Board member for the purpose of representing POTAGUA's interests. The intention is to appoint Jens Stephensen Vice Chairman of the Board in which Mr Ib Christensen will continue as Chairman.
To fill the two vacant seats on the FLS Industries Board of Directors, candidates with the necessary background and experience for handling future Board responsibilities will be sought outside the Group.
It is the intention of POTAGUA in the longer perspective to eventually sell its shares in FLS Industries provided this is possible on satisfactory terms. POTAGUA is a major shareholder in FLS Industries, holding 46 per cent of its share capital. It should be emphasised that as long as it continues to be a major shareholder in FLS Industries, POTAGUA will continue to participate actively and constructively as an owner.
The decision should be viewed against the overall aim of making FLS Industries ideally placed to address the future challenges in a world of rapid change. The decision also aims to optimise the value of the company, while securing the FLS Group the best possible platform for future development.
FLS Industries A/S
Corporate Public Relations