Announcement from the Annual General Meeting of East Capital Explorer AB (publ) on 9 June 2016
The Meeting adopted the income statements and balance sheets included in the Board of Directors’ Annual Report for the parent company and the East Capital Explorer Group for the fiscal year 2015.
The Meeting resolved to allocate this year’s result in accordance with the Board of Directors’ proposal, meaning a dividend to the shareholders corresponding to 0.80 SEK per share and that the remaining profits are carried forward. The record day for the right to receive dividend is 13 June 2016. The dividend is expected to be paid out via Euroclear Sweden AB on Thursday 16 June 2016.
The Meeting granted the members of the Board of Directors and the CEO discharge from liability for the period covered by the Audit Report.
The Meeting resolved that the number of Directors to serve until the close of the next Annual General Meeting shall be four (4).
The Meeting resolved that remuneration to the chairman of the Board is set to SEK 1 200 0000 and that remuneration to other Directors of the Board is set to SEK 400 000 for each Director. The Meeting resolved, in accordance with the proposal of the Nomination Committee, that the remuneration to a Director may, subject to a specific agreement with the company, be invoiced through a company or entity. In order for the company to enjoy cost neutrality, the invoiced remuneration shall be adjusted for social security charges and value added tax. Furthermore, it was resolved that fees to the auditor be paid according to approved invoices under a given offer.
Peter Elam Håkansson, Lars O Grönstedt and Liselotte Hjorth were re-elected as Directors of the Board and Nadya Wells was elected as new Director. Lars O Grönstedt was re-elected as Chairman of the Board.
The Meeting approved the proposal regarding criteria for appointment of the Nomination Committee.
The Meeting approved the Board of Directors’ proposal regarding guidelines for remuneration to senior management.
The Meeting approved the Board of Directors’ proposal to reduce the share capital by way of retirement of own shares and to increase the share capital by way of a bonus issue. Further, the Meeting resolved upon an additional reduction of the share capital by way of cancellation of such own shares that are held by the Company at the date of the notification of the resolution to the Swedish Companies Registration Office.
The Meeting authorized the Board of Directors to decide on repurchase of own shares in accordance with the proposed resolution.
Lars O Grönstedt , Chairman of the Board, East Capital Explorer +46 8 505 97 700
Mia Jurke , CEO, East Capital Explorer, +46 8 505 885 52
About East Capital Explorer
East Capital Explorer AB (publ) is a Swedish investment company, offering unique investment opportunities in Eastern Europe, where the Baltic countries represent the company’s largest investment region. The company primarily invests in unlisted assets within the private equity and real estate segments. East Capital Explorer’s main investment theme is domestic growth and the company targets fast growing sectors such as Retail and Consumer goods, Financials and Real Estate. East Capital Explorer is listed on Nasdaq Stockholm, Mid Cap.
Nasdaq Stockholm, Mid Cap -
Reuters: ECEX.ST - Bloomberg: ECEX SS Equity
This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act and demands made in the exchange rules. It was released for publication at 08:00 CET on 10 June 2016