'Nothing to see here' insists REC CFO

Norwegian polysilicon, cell and module manufacturer REC today notified shareholders of an extraordinary general meeting (EGM) to be held at the company’s headquarters in Sandvika on Monday June 24.

REC chief financial officer Kjell Christian Bjornsen told pv magazine that, in line with listed Norwegian company rules, the board of REC can issue up to 10% of the shares in the company to raise equity without the need to call a general assembly.

Having performed an equity raising and partial share buyback on May 14, Mr Bjornsen said that mandate had now expired and with around a year to go until the next annual general meeting, an EGM had been called to seek approval to renew the board’s mandate in this respect.