Byggmax Group AB (publ) 2016 Annual General Meeting
The Annual General Meeting of Byggmax Group AB took place on Tuesday, May 10, 2016 in Stockholm, Sweden. On all the motions proposed, the meeting resolved in line with the Board’s and Nomination Committee’s proposals. The main contents of key resolutions passed at the meeting are detailed below.
Resolution on dividend
The Annual General Meeting (AGM) resolved to pay a dividend of SEK 2.14 per share for the 2015 fiscal year. The proposed record date for payment of the dividend is Thursday, May 12, 2016. Payment of the dividend is expected to be effected by Euroclear Sweden AB on Tuesday, May 17, 2016.
Resolution regarding adoption of the income statement and balance sheet
The AGM resolved to adopt the income statement and balance sheet for the Parent Company as well as the consolidated income statement and consolidated balance sheet for 2015. The Board of Directors and President were discharged from liability for the 2015 fiscal year.
Election of Board of Directors, Chairman of the Board and auditors
The AGM resolved in accordance with the proposal of the Nomination Committee for reelection of Board members Anders Moberg, Lottie Svedenstedt, Karin Hygrell-Jonsson, Hannele Kemppainen and Daniel Mühlbach. Ullrika Eliasson and Mikael Norman were elected as new Board members. Anders Moberg was reelected as Chairman of the Board.
The AGM resolved in accordance with the proposal of the Nomination Committee to appoint the registered accounting firm Öhrlings PricewaterhouseCoopers AB as the company’s auditors until the end of the next AGM.
Resolution pertaining to directors’ and auditors’ fees
The AGM resolved in line with Nomination Committee’s proposal that directors’ fees totaling SEK 2,225,000 are to be allocated as follows: a fee of SEK 575,000 to the Chairman of the Board and a fee of SEK 275,000 to each of the other Board members.
Fees to auditors are payable against approved invoices.
Resolution on 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 at August 31 are each entitled to appoint one member of the Committee.
Resolution on guidelines for the remuneration and other terms of employment for senior executives
The AGM resolved to adopt the Board’s proposal for guidelines for the remuneration and other terms of employment for senior executives, which essentially means that salaries and other terms of employment for senior executives must be competitive and compatible with market rates.
This information is published by Byggmax Group AB in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. This information was submitted for publication on May 10, 2016 at 3 p.m.
Byggmax Group AB (publ)
Stockholm, May 10, 2016.
For further information, please contact:
Pernilla Walfridsson, CFO
Mobile: +46 76119 00 40
Magnus Agervald, CEO
Mobile: +46 76119 00 20
The Byggmax Group consists of Byggmax, Buildor and Skånska Byggvaror. Byggmax was launched in 1993 and currently has 77 stores in Sweden from Ystad to Luleå. The company had net sales of approximately SEK 3.5 billion in 2014 and is continuing to expand strongly. Byggmax also has 31 stores in Norway and 13 in Finland. The website sells the entire store assortment, as well as an extensive range of products available to order. From the very beginning, Byggmax’s business concept has been to be the best and most inexpensive alternative for consumers in need of high-quality construction materials. Byggmax has a drive-in system at all its stores, enabling customers to load their products into their vehicles directly. This makes life easy and efficient for customers, particularly when buying heavy construction materials. Buildor is a rapidly growing online retailer within building materials, with sales of almost SEK 50 million for the last 12 months, until September 2015), and with a growth rate of more than 150% over the same time period. Buildor and Skånska Byggvaror were acquired by the Byggmax Group in November 2015. The Byggmax Group was listed on the Nasdaq OMX Stockholm Exchange in June 2010.