NOL REMOVES RESTRICTIONS ON SHAREHOLDERS’ NATIONALITY

   Singapore-based Neptune Orient Lines, the parent company of APL, has removed restrictions on the proportion of shares that can be owned by non-Singaporean shareholders.
    At an extraordinary general meeting, shareholders voted to remove the company’s previous 49-percent limit on non-Singaporean shareholding and the 50-percent limit on the number of non-Singaporean directors.
    Flemming Jacobs, group president and chief executive officer of NOL, said that the changes support the strengthening of the company’s global shareholder base.
    Shareholders also approved the introduction of new share-based incentive plans for its employees.
    Earlier this month, NOL announced a new global organizational structure in which Jacobs will also head NOL’s container transportation unit, APL.