Notice of Extraordinary General Meeting

1. Opening of the meeting and registration of shareholders attending
2. Approval of the Notice and the Agenda
3. Election of chairman of the meeting and at least one person to co-sign the minutes

4  Election of Board of Directors

Tor Heyerdahl Augdal has left Frontline and will retire from the Board of Directors of International Maritime Exchange ASA. 

The Board of Directors proposes to expand the number of directors to six in order to strengthen the competence and resources for the company in its further development by the election of Herman Alf Billung and Leiv Askvig as new directors. 

To restart the service period of all the Directors it is proposed that the whole Board of Directors is elected.

The Board of Directors nominates the following Board of Directors for election:

• Leiv Askvig
• Herman Alf Billung
• Arne Blystad
• Wilhelm Loennecken Holst
• Andrew Wareing March
• Benoit Louis Marcel Timmermans

5  Authorisation to Acquire the Company’s own Shares

The Board of Directors wants to have the possibility to acquire the company’s shares if the market conditions should be favourable, and therefore propose to the Extraordinary General Meeting the following resolution:

The Extraordinary General Meeting of International Maritime Exchange ASA hereby authorises the Board of Directors to allow the company to acquire International Maritime Exchange ASA shares in the market with a nominal value of up to NOK 700,200.80, which corresponds to 10 % of the existing share capital.  The lowest amount which may be paid per share is the nominal value; the highest amount which may be paid per share is a maximum of 100 times the nominal value.  The Board of Directors is authorised to determine the method of share acquisition and, if applicable, the method, terms, and conditions for disposing of such shares.  This authorisation remains in force until the 2006 Ordinary General Meeting.

The nominal value of the share is NOK 1, thus the current proposed minimum and maximum share price under the authorisation are NOK 1 and 100, respectively.

Shareholders listed in the Norwegian Central Securities Depository (Verdipapirsentralen) are entitled to be present and vote at the Extraordinary General Meeting.  Such shareholders are requested to give notification of their attendance as soon as possible and at the latest by 16:00 hours on Friday 28 October 2005 to DnB NOR Bank ASA, Verdipapirservice, 0021 Oslo, Norway, telefax +47  22 48 11 71, telephone +47  22 48 35 90.

Any shareholder may appoint a proxy with written authority to attend the meeting and to vote on his or her behalf.

Oslo, 12 October 2005

The Board of Directors

Pls see the full Notice below:

• EGM Notice 2005

  imarex_egm_2005.pdf 24.06 kB