ANNUAL GENERAL MEETING OF HEXPOL AB
At today’s Annual General Meeting of HEXPOL AB (publ), the following was resolved.
The present Directors Melker Schörling, Georg Brunstam, Alf Göransson, Jan-Anders Månson, Malin Persson and Ulrik Svensson were re-elected. Melker Schörling was re-elected as Chairman of the Board.
In accordance with the proposal of the Nomination Committee, the Meeting resolved on Directors’ fees of SEK 500,000 to the Chairman of the Board and SEK 250,000 to each other member elected by the AGM but not employed by the company, as well as SEK 150,000 to the Chairman of the Audit Committee and SEK 75,000 to member of the Audit Committee and SEK 75,000 to the Chairman of the Remuneration Committee and SEK 50,000 to member of the Remuneration Committee.
The AGM resolved in accordance with the proposal of the Board of Directors that a dividend of SEK 5,00 per share be declared for the financial year 2011 and that the accumulated earnings be carried forward. The record date for the dividend shall be 9 May 2012.
Mikael Ekdahl (Melker Schörling AB), Åsa Nisell (Swedbank Robur fonder), Henrik Didner (Didner & Gerge Fonder) and Anders Algotson (AFA Försäkring) where re-elected as members of the Nomination Committee in respect of the AGM 2013. Mikael Ekdahl was re-elected as Chairman of the Nomination Committee.
The AGM resolved on the adoption of guidelines for remuneration to the CEO and other senior executives principally entailing that the remuneration shall consist of a basic salary, a variable remuneration, other benefits and pension and all in all be competitive and in accordance with market practice. The variable remuneration shall be maximized in relation to the basic salary, tied to such performance that the relevant individual may influence and based on the outcome in relation to individually established goals. The variable remuneration is capped and shall constitute a maximum of 90-110 per cent of the basic remuneration. The Board shall annually consider whether a share- or share price related incentive programme shall be proposed to the AGM. The notice period shall normally be six months on the part of the employee. In case of notice of termination by the company, the notice period and the period during which severance payment is paid shall, all in all, not exceed 24 months. The pension rights shall be either benefit or fee-based, or a combination of both, with an individual pension age, however, not lower than 60 years.
At the statutory board meeting following the AGM, Melker Schörling (Chairman) and Ulrik Svensson were re-elected members of the Remuneration Committee for the time period until the next statutory board meeting. For the same term, Ulrik Svensson (Chairman) and Malin Persson were re-elected members of the Audit Committee.
Malmö, 4 May 2012
THE BOARD OF DIRECTORS
For further information, contact:
Georg Brunstam, President and CEO
Tel: 46 708 55 12 51
Urban Ottosson, CFO/ Investor Relations
Tel: 46 767 85 51 44
HEXPOL is a world-leading polymers group with strong global positions in advanced rubber compounds (Compounding), gaskets for plate heat exchangers (Gaskets) and wheels made of plastic and rubber materials for truck and castor wheel application (Wheels).Customers are primarily OEM manufacturers of plate heat exchangers and trucks, global systems suppliers to the automotive industry- and engineering industry and the medical technology industry. The Group is organised in two business areas, HEXPOL Compounding and HEXPOL Engineered Products. HEXPOL's sales in 2011 amounted to 7,197 MSEK. The HEXPOL Group has approximately 3,100 employees in ten countries. Read more at www.hexpol.com.