Tórshavn, Faroe Islands, 2020-04-30 (GLOBE NEWSWIRE) -- Today P/F Atlantic Petroleum  (NASDAQ OMX: ATLA DKK & Oslo Stock Exchange: ATLA NOK) held the Annual General Meeting in Tórshavn, Faroe Islands.

• Petur Even Djurhuus was elected Chairman of the Meeting.
• The Chairman presented the Board of Director’s and management’s statement of the Company’s activity during 2019.
• The audited Annual Accounts were presented and approved by the General Meeting.
• The General Meeting approved the remuneration to the Board in A: 2019 and B: 2020.
• It was decided to carry forward the result from 2019 to the next year.
• According to the Articles of Association all Members of the Board are up for election for a period of one year, namely: Ben Arabo, Kaj Johannessen and Mourits Joensen. The Board proposed re-election. The General Meeting elected the board members proposed by the Board.
• As proposed it was decided to elect P/F Januar løggilt grannskoðaravirki, Óðinshædd 13, 100 Tórshavn, as auditors, for the period until the next Annual General Meeting. 
• The General Meeting of the Company unanmously approved the de-listing of the secondary listed shares of the Company from the Oslo Bors and to authorise the Board of Directors of the Company to take any and all steps and measures necessary in reation to this decision.

The Board constituted itself with Ben Arabo as Chairman and Kaj Johannesen as Deputy Chairman.

Further Details:

Further details can be obtained from Mark T. Højgaard, (markh@petroleum.fo). This announcement will be available, together with other information about Atlantic Petroleum, on the Company's website: www.petroleum.fo.

Announcement no.: 5/2020

Issued: 30-04-2020

P/F Atlantic Petroleum
Lucas Debesargøta 8
P.O.Box 1228
FO-110 Torshavn
Faroe Islands

Website: www.petroleum.fo