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Voting in China Shineway

SKAGEN voted against five proposals at the China Shineway general meeting.

Date: 26/10/15

At the general meeting on 30 May, SKAGEN voted on behalf of SKAGEN Kon-Tiki which is a shareholder in the company. SKAGEN voted against five proposals related to the election of board members and the issue of new shares without giving priority to existing shareholders. We voted against the proposals as we believe that the suggestions for board members are not sufficiently independent and the share issue levels are too high without giving priority to existing shareholders.

SKAGEN owned 37 million shares in China Shineway at the time of the general meeting.

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