Decisions on capital increases are normally taken by the general meeting , cf. Section 10-1 (1) of the Companies Act. The general meeting can, however, authorize the board to decide on a capital increase , cf. Section 10-14 of the Companies Act.

The director’s authorization cannot apply to an amount greater than that the total nominal value of shares that can be issued pursuant to the authorization is within half of the share capital at the time when the authorization was registered. The power of attorney cannot be granted for more than two years at a time.

A decision on board authorization to take up a convertible loan must be registered both on the dCompany platform and in the Brønnøysund registers. The board cannot use the power of attorney before it has been registered, cf. Section 10-16 of the Companies Act