Consequently, DONG Energy has called an Extraordinary General Meeting to ask the shareholders of the company to approve a change of the company name to Ørsted.
Over the past decade, DONG Energy has transformed itself from an energy company based on coal and oil to a global leader in renewable energy. The company has increased earnings considerably, while reducing the use of coal in its power stations and building out new offshore wind farms. Since 2006, carbon emissions have been reduced by 52 %, and by 2023, they will have been reduced by 96 % compared to 2006.
The new name – Ørsted – references the Danish scientist Hans Christian Ørsted (1777-1851). Ørsted spearheaded several scientific discoveries, including the discovery of electromagnetism in 1820, which helped lay the scientific foundation for how today’s societies are powered.
As part of becoming Ørsted, a new logo and brand identity will be introduced. The new brand identity is inspired by the Danish design tradition in being simple, functional and human and supporting a sustainable way of life. The brand identity will consist of a full spectrum of colours, inspired by Scandinavian nature and the Danish 20th century artist Vilhelm Lundstrøm.
The planned name change will necessitate an amendment of the company’s Articles of Association. An Extraordinary General Meeting will be held on 30 October 2017 to formally decide the name change.
As a consequence of the name change, DONG Energy will change its stock exchange ticker to Orsted. The change in ticker will become effective from the start of trading on 31 October 2017, assuming a positive outcome at the general meeting. The roll out of the new name and design across DONG Energy’s markets will begin on 6 November.
The information in this announcement does not change DONG Energy’s previous financial guidance for the financial year 2017 or the announced expected investment level for 2017.
(Source: DONG Energy)