Dividend Policy

In deciding whether to propose a dividend and in determining the dividend amount, the Board of Directors will comply with the legal restrictions set out in the Norwegian Public Limited Liabilities Companies Act and take into account the Company's capital requirements, including capital expenditure requirements, the Company's financial condition, general business conditions and any restrictions that its contractual arrangements in place at the time of the dividend may place on its ability to pay dividends and the maintenance of appropriate financial flexibility.

The proposal to pay a dividend in any year is, in addition to any legal restrictions further subject to any restrictions in the Company's borrowing arrangements or other contractual arrangements in place at the time.  

The Company is focusing on pursuing growth through expanding its sales operations, moving into new customer segments and further develop and enhance its product offering (see section 8.3 "Strategy and objectives"), and does not anticipate paying any dividends for the next three to five years. The Company has not paid any dividends on its Shares during the financial years ended 31 December 2019, 2018 and 2017.