The unit holder meeting was held in connection with proposed amendments to the articles of association in ODIN Norden, ODIN Norge, ODIN Sverige, ODIN Global, ODIN Emerging Markets, ODIN USA, ODIN Bærekraft, ODIN Eiendom, ODIN Kreditt, ODIN Norsk Obligasjon, ODIN Europeisk Obligasjon, and ODIN Likviditet.
Amendments to the articles of association are approved if a majority of at least 75 percent of the votes cast is achieved.
As majority was reached in all funds, all the amendments to the articles of association were approved in the unit holder meeting.
Here are the main points in the proposed amendments to the articles of association:
The purpose of the amendments is to introduce swing pricing in the funds.
Swing pricing is a mechanism that ensures that the unit holder who triggers the need for the purchase and sale of units in the fund, for example through larger subscriptions or redemptions, is also the one who is charged the transaction costs. ODIN is introducing swing pricing to ensure that the existing unit holders of the fund are not charged the costs resulting from subscriptions and redemptions made by other unit holders.
Finanstilsynet (The Financial Supervisory Authority of Norway) must consent to the changes in the articles of association after the unit holders have voted for them. Therefore, the amendments will not come into effect until after they have been approved by the Financial Supervisory Authority. ODIN Management is planning for the proposed changes to take effect by August 2024. However, the exact timing will depend on the processing time of the Financial Supervisory Authority.
Results from the votes:
ODIN Bærekraft:
In the unit holder meeting, votes were cast for a total value of NOK 930,267,308. Overall, the amendments to the articles of association were approved by the unit holders with 99.96 percent of the votes.
ODIN Eiendom:
In the unit holder meeting, votes were cast for a total value of NOK 49,047,325. Overall, the amendments to the articles of association were approved by the unit holders with 85.35 percent of the votes.
ODIN Emerging Markets:
In the unit holder meeting, votes were cast for a total value of NOK 1,700,240,975. Overall, the amendments to the articles of association were approved by the unit holders with 99.95 percent of the votes.
ODIN Europeisk Obligasjon:
In the unit holder meeting, votes were cast for a total value of NOK 2,017,863,216. Overall, the amendments to the articles of association were approved by the unit holders with 100.00 percent of the votes.
ODIN Global:
In the unit holder meeting, votes were cast for a total value of NOK 3,400,281,060. Overall, the amendments to the articles of association were approved by the unit holders with 99.02 percent of the votes.
ODIN Kreditt:
In the unit holder meeting, votes were cast for a total value of NOK 2,659,607,227. Overall, the amendments to the articles of association were approved by the unit holders with 99.98 percent of the votes.
ODIN Likviditet:
In the unit holder meeting, votes were cast for a total value of NOK 107,140,747. Overall, the amendments to the articles of association were approved by the unit holders with 99.54 percent of the votes.
ODIN Norden:
In the unit holder meeting, votes were cast for a total value of NOK 3,430,965,956. Overall, the amendments to the articles of association were approved by the unit holders with 98.86 percent of the votes.
ODIN Norge:
In the unit holder meeting, votes were cast for a total value of NOK 2,274,301,844. Overall, the amendments to the articles of association were approved by the unit holders with 99.04 percent of the votes.
ODIN Norsk Obligasjon:
In the unit holder meeting, votes were cast for a total value of NOK 3,850,386,795. Overall, the amendments to the articles of association were approved by the unit holders with 100.00 percent of the votes.
ODIN Sverige:
In the unit holder meeting, votes were cast for a total value of NOK 2,202,057,840. Overall, the amendments to the articles of association were approved by the unit holders with 99.72 percent of the votes.
ODIN USA:
In the unit holder meeting, votes were cast for a total value of NOK 5,073,391,293. Overall, the amendments to the articles of association were approved by the unit holders with 99.97 percent of the votes.