Press release from the Annual General Meeting of FinnvedenBulten AB (publ) April 24, 2013
FinnvedenBulten AB (publ) has held its Annual General Meeting on April 24, 2013. Below is a summary of the decisions made at the meeting.
Adoption of the income statement and balance sheet, and discharge from liability
The AGM adopted the income statement and the balance sheet, and the consolidated income statement and the consolidated balance sheet for 2012. The AGM granted the Board of Directors and President discharge from liability for the 2012 financial year.
Resolution regarding allocation of the Company’s earnings
In accordance with the Board of Directors’ proposal, the AGM decided on a dividend of SEK 2.00 per share. The record day was established as April 29, 2013 and the dividend is expected to be distributed by Euroclear Sweden AB on May 3, 2013.
Election of Board Directors and the Chairman of the Board
The AGM decided to expand the board with an additional member. The board shall comprise of six ordinary members elected by the AGM, without deputies. The AGM decided that Roger Holtback, Hans Gustavsson, Arne Karlsson, Johan Lundsgård and Adam Samuelsson should be re-elected as ordinary Board members and that Hans Peter Havdal should be newly elected as an ordinary Board member. Hans Peter Havdal holds a Master of Science in Mechanical Engineering from Norwegian University of Science and Technology. Since 2010, he is President and CEO of Kongsberg Automotive Holding. He has previously held executive positions in the Kongsberg group.
Roger Holtback was re-elected as the Chairman of the Board.
Re-appointment of auditors
The AGM decided to re-appoint PricewaterhouseCoopers AB as the Company’s auditor to the end of the AGM 2014. PricewaterhouseCoopers AB has announced that the authorized accountant Fredrik Göransson will be appointed lead auditor.
Establishment of fees to Board Directors and the auditor
The AGM decided to adopt the remuneration of the Board members in accordance with the nomination committee’s proposal for a decision, which means the same terms in relation to previous year, however, adapted to the board now consists of six members instead of the previous five. A fixed fee of SEK 2,100,000 to be paid to the Board, of which SEK 600,000 to the Chairman of the Board and SEK 300,000 to each of the Board members elected by the AGM. In addition thereto, (i) a fixed fee of SEK 50,000 paid to Board members with special responsibility for the subsidiary Finnveden Metal Structures AB, (ii) a fixed fee of SEK 300,000 payable to the Audit Committee, of which SEK 100,000 to the committee’s chairman and 50,000 to each of the committee's other members, and (iii) certain expenses paid to the Chairman of the Board. No remuneration will be paid to the members of the remuneration Committee.
The AGM also decided that auditor’s fee be paid to an approved invoice.
Resolution regarding guidelines for remuneration for senior management
The AGM decided on the guidelines for remuneration to senior management, in accordance with the Board of Directors’ proposed resolution. The adopted guidelines are available at www.finnvedenbulten.com.
Nomination committee, etc
The AGM further decided the principles for appointing the Nomination Committee together with instructions for the Nomination Committee in accordance with the presented proposal. The company shall have a Nomination Committee consisting of four people. The three largest shareholders as of the last business day of September shall be entitled to appoint one member of the committee and in addition the Chairman of the Board shall be a member of the committee. No compensation will be paid to the committee members.
The adopted guidelines are available at www.finnvedenbulten.com.
Gothenburg, April 24, 2013
FinnvedenBulten AB (publ)
For further information, please contact:
Kamilla Oresvärd, Vice President Corporate Communications
Tel: +46 (0)70-520 59 17, e-mail: firstname.lastname@example.org
NB.The information in this announcement is required to be disclosed by FinnvedenBulten AB (publ) under the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 19:10 CET on, April 24, 2013.
FinnvedenBulten develops and manages industrial businesses, offering products, technical solutions and systems in metallic materials. The Group operates as a business partner to international customers in the engineering industry, primarily the automotive industry. FinnvedenBulten is structured into two divisions – Bulten and Finnveden Metal Structures – both with strong positions in their respective customer segments. FinnvedenBulten is listed on NASDAQ OMX Stockholm. Further information at www.finnvedenbulten.com.