The funds would be used in connection with “future acquisitions, mergers, take-over situations,” Copeinca said.
The news was revealed in minutes from the Oslo-listed company’s annual general meeting on May 20.
These show that shareholders voted to give the board permission to raise up to NOK 58.5 million (€7.4 million/$10.5 million) in a rights issue.
This would increase the company’s share capital by 20 percent.
The authorization is valid until the next annual general meeting in June 2012, the group said.
The board was granted authorization to buy half of the agreed total itself.
