Cision AB (publ) Annual General Meeting – Important information to shareholders
As announced on March 8, 2012 Cision has received a threat from a major US publisher of a damages claim based on alleged infringement of rights.
As a consequence of the continuing uncertainty regarding the outcome of the claim, the board of directors of Cision AB has considered the general rule of prudence set out in Chapter 17 Section 3 of the Companies Act, and decided to cancel the following of its proposals to the annual general meeting to be held on March 26, 2012:
- Proposal for a dividend of SEK 2 per share, corresponding to a total amount of approximately SEK 30 million (item 11 on the proposed agenda);
- proposal for a long term incentive plan (LTI 2012) (item 17 B on the proposed agenda); and
- proposal for an authorisation to the board of directors to resolve on acquisitions of own shares (item 19 on the agenda).
The cancellation of the dividend proposal means that the board of directors proposes, in respect of item 11 on the proposed agenda for the annual general meeting, that the unappropriated earnings of Cision AB of SEK 617,336,277 should be allocated as follows: Retained earnings of SEK 471,176,953, fair value reserve of SEK -80,928,032, share premium reserve of SEK 136,493,405 and net profit for the year of SEK 90,593,951 to be carried forward into new account.
The board of directors' proposals to the annual general meeting following the above cancellation of certain of the proposals are available on Cision AB's website:
For further information please contact:
Hans Gieskes, CEO and President, telephone +46 (0)8 507 410 11
Tosh Bruce-Morgan, CFO, telephone +46 (0)8 507 410 11
Fogel & Partners
Anders Fogel, telephone +46 722044750
Cision AB (publ)
P.O. Box 24194
SE-104 51 Stockholm, Sweden
Corp Identity No. SE556027951401
Telephone: 46 (0)8 507 410 00
The information provided herein is such that Cision AB (publ) is obligated to disclose pursuant to the Swedish Securities Markets Act (SFS 2007:528) and/or the Swedish Financial Instruments Trading Act (SFS 1991:980). The information was submitted for publication at 8.30 AM CET on March 19, 2012.
Cision is the leading provider of software, services, and tools to the public relations and marketing industry. Marketing and PR professionals use our products to help manage all aspects of their brands – from identifying key media and influencers to connecting with audiences; monitoring traditional and social media; and analyzing outcomes. Journalists, bloggers, and other influencers use Cision’s tools to research story ideas, track trends, and maintain their public profiles. Cision is present in Europe, North America and Asia, with partners in over 125 countries and is quoted on the Nordic Exchange with revenue of SEK 1.0 billion in 2011. This press release is also available at http://corporate.cision.com.