Byggmax Group AB (publ) 2011 Annual General Meeting
Dividend
The Annual General Meeting (AGM) resolved to pay a dividend of SEK 1.50 per share for the 2010 fiscal year. The record date for distribution is Wednesday, April 6, 2011. Payment of the dividend is expected to be effected by Euroclear on Monday, April 11, 2011.
The dividend corresponds to 53% of net profits for the year and the funds remaining at the AGM’s disposal, in total SEK 336,560,792, were carried forward to the next year.
Election of Board of Directors
Board members Fredrik Cappelen, Johannes Lien, Stefan Linder, Anders Moberg, Stig Notlöv and Lottie Svedenstedt were reelected.
Election of Chairman of the Board
The AGM elected Fredrik Cappelen as Chairman of the Board.
Principles for appointing the Nomination Committee
The AGM resolved to adopt the principles for appointing the Nomination Committee, which in effect mean that the company’s three major shareholders, by order of size and which are directly registered according to Euroclear Sweden AB at August 31, are each entitled to appoint one member of the Committee.
Guidelines for the remuneration and other terms of employment for senior executives
The AGM resolved on guidelines for the remuneration and other terms of employment for Group management, which essentially means that salaries and other terms of employment for Group management must be competitive and compatible with market rates.
Long-term incentive program
The AGM resolved to adopt a long-term incentive program for 20 senior executives at Byggmax, which comprised a new issue of a maximum of 600,000 warrants. Each warrant entitles the holder to subscribe for one (1) share in the Byggmax Group AB (publ) from 16 April 2014 through 16 October 2014.
Amendment of the Articles of Association
Subject to the Swedish Companies Act, from January 1, 2011, official notification of a general meeting of the company must take the form of an announcement in Post- och Inrikes Tidningar and through publication on the Company’s website. Concurrent with this notification, the Company must advertise the notification in at least one of the national daily newspapers specified in the Articles of Association that notification has been given. The AGM resolved that it be specified in article 9 of the Articles of Association that such information be provided through an advertisement in Dagens Industri.
Full details of the incentive program and other resolutions passed by the AGM are available on the Byggmax website.
Byggmax Group AB (publ)
April 1, 2011
For further information please contact:
Magnus Agervald, President and CEO of the Byggmax Group, tel. +46 76 119 0020, e-mail: magnus.agervald@byggmax.se
Byggmax was founded in 1993 and currently has 54 stores across Sweden, 16 in Norway and 6 in Finland. In 2010, the company had sales of SEK 2,773 M and continues to expand vigorously. Since the very start, Byggmax’s business concept has been to be the best and cheapest alternative for customers when buying high quality building supplies. In every store, Byggmax has a drive-in-system enabling customers to bring their cars and load their goods directly. This makes it easy and efficient for customers to shop, particularly for heavier building supplies. The Byggmax share was listed on the NASDAQ OMX Stockholm in June 2010. For more information, please visit www.byggmax.com.
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