Annual general meeting of HEXPOL AB
Annual general meeting of HEXPOL AB
At today’s Annual General Meeting of HEXPOL AB (publ), the following was resolved.
Board of Directors, auditor and fees
The number of directors will be seven. The meeting re-elected Melker Schörling, Georg Brunstam, Alf Göransson, Jan-Anders Månson, Malin Persson, Ulrik Svensson and Märta Schörling. Melker Schörling was re-elected Chairman of the Board. The fees to the Board of Directors shall amount to a total of SEK 2,525,000 (including fees for committee work).
Re-election of the accounting firm Ernst & Young AB, for a period of mandate of one year, consequently up to and including the Annual General Meeting 2016, whereby the accounting firm has informed that the authorised public accountant Johan Thuresson will be appointed as auditor in charge. The auditor shall be remunerated according to agreement.
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.
The AGM resolved in accordance with the proposal of the Board of Directors that a dividend of SEK 12.00 per share be declared for the financial year 2014 and that the accumulated earnings be carried forward. The record date for the dividend shall be May 6, 2015.
The meeting re-elected Mikael Ekdahl (Melker Schörling AB), Åsa Nisell (Swedbank Robur fonder) and Henrik Didner (Didner & Gerge Fonder) and new-elected Elisabet Jamal Bergström (Handelsbanken) as members of the Nomination Committee in respect of the AGM 2016. Mikael Ekdahl was re-elected as Chairman of the Nomination Committee.
Share split and change of the articles of association
The AGM resolved in accordance with the proposal of the Board of Directors of a share split (Sw: Uppdelning av aktier) 10:1 and to change section 4 “Aktier” of the articles of association.
Guidelines for remuneration to senior executives
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 130 per cent of the basic remuneration, except for two senior executives for whom the variable part of the remuneration this year shall constitute a maximum of 170 per cent including possible integration bonus. 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 of the managing director by the company, a notice period of 24 months shall apply. For other senior executives the notice period on the part of the company is normally 12 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.
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HEXPOL is a world-leading polymers group with strong global positions in advanced polymer compounds (Compounding), gaskets for plate heat exchangers (Gaskets), and plastic and rubber materials for truck and castor wheel applications (Wheels). Customers are primarily system suppliers to the global automotive and engineering industry, the energy, oil and gas sector, medical equipment manufacturers and OEM manufacturers of plate heat exchangers and forklifts. The Group is organised in two business areas, HEXPOL Compounding and HEXPOL Engineered Products. The HEXPOL Group’s sales in 2014 amounted to 8,919 MSEK. The HEXPOL Group has approximately 3,900 employees in eleven countries. Further information is available at www.hexpol.com.
This press release consists of such information that HEXPOL AB (publ.) may be obliged to disclose in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on December 19, 2014.This press release consists of such information that HEXPOL AB (publ) may be obliged to disclose in accordance with the Swedish Securities Market Act and /or the Financial Instruments Trading Act. The information was submitted for publication on May 4, 2015.
This press release has been prepared both in Swedish and English. In case of any divergence in the content of the two versions, the Swedish version shall have precedence.