Information from the 2011 AGM of H & M Hennes & Mauritz AB
On Thursday 28 April H & M Hennes & Mauritz AB held its Annual General Meeting under the chairmanship of lawyer Sven Unger. The AGM approved the dividend of SEK 9.50 per share in accordance with the Board of Directors’ proposal. The record day is 3 May 2011. The dividend is expected to be paid out by Euroclear Sweden AB on 6 May 2011.
The AGM discharged the members of the Board and the Managing Director from liability for the 2009/2010 financial year.
All the Board members were re-elected: Mia Brunell Livfors, Anders Dahlvig, Lottie Knutson, Sussi Kvart, Bo Lundquist, Stefan Persson, Melker Schörling and Christian Sievert.
As in 2010, the Board of Directors comprises eight members elected by the AGM.
Stefan Persson was re-elected as Chairman of the Board.
The regular members appointed previously by the trade unions are Margareta Welinder and Agneta Ramberg, with Tina Jäderberg and Marie Björstedt as deputy members.
The AGM approved the proposal from the Election Committee that the total Board fees be increased by SEK 600,000 to a total of SEK 4,850,000. The Board fees are broken down as follows: Chairman of the Board SEK 1,350,000; members elected by the AGM SEK 450,000; members of the Auditing Committee an extra SEK 100,000; and the chairman of the Auditing Committee an extra SEK 150,000.
The AGM approved the Election Committee’s proposed principles for the Election Committee and elected the members of the Election Committee for the period up to the appointment of a new Election Committee.
The members of the Election Committee are Stefan Persson,
Lottie Tham, Liselott Ledin (representing Alecta), Jan Andersson (representing Swedbank Robur Fonder) and Anders Oscarsson (representing AMF and AMF Fonder).
The AGM approved the Board’s proposal concerning amendment of the articles of association, among other things for the purpose of adapting the articles of association to changes in the Swedish Companies Act which entered into force on 1 November 2010 and
1 January 2011.
The AGM approved the resolution proposed by the Board concerning guidelines for remuneration to senior executives.
Nils Vinge, Head of Investor Relations +46 (0)70-796 52 50
Kristina Stenvinkel, Head of Communications +46 (0)70-796 54 40
The information in this press release is that which H & M Hennes & Mauritz AB (publ) is required to disclose under Sweden’s Securities Market Act. It was released for publication at 17:00 (CET) on 28 April 2011.
H & M Hennes & Mauritz AB (publ) was established in Sweden in 1947 and is quoted on NASDAQ OMX Stockholm. The company’s business concept is to offer fashion and quality at the best price. In addition to H&M, the Group includes the brands COS, Monki, Weekday and Cheap Monday as well as H&M Home. Today the H&M Group has more than 2,200 stores in 40 markets including franchise markets. In 2010, sales including VAT were SEK 126,966 million and the number of employees was over 87,000. For further information, visit www.hm.com .