Erling Øverland, chairman of the board, has informed the board and the nomination committee that he will resign from the board of directors of Magnora ASA . Mr. Øverland will serve until the company's third quarter results have been published on 27 November 2018. Mr. Øverland joined the board of directors in second quarter of 2016. Further, Astrid Jørgenvåg has notified the board and the nomination committee that she will resign from the board at the same time as Erling Øverland. Astrid Jørgenvåg is Senior Vice President at Teekay Offshore Production and as a consequence of the completion of the Teekay Offer Ms. Jørgenvåg believes it is in the best interest of the Teekay group and Magnora that she steps down from the board of directors. The nomination committee will start the process of identifying new candidates for the board and Magnora expects to call for an extraordinary general meeting in the near future.