Intrum’s Annual General Meeting 2018
The annual general meeting adopted the board’s proposal for a dividend of SEK 9.50 per share. The record day for the dividend is Wednesday, 2 May 2018. The dividend is expected to be distributed by Euroclear Sweden on Monday, 7 May 2018.
Board and board remuneration
The annual general meeting re-elected Per E. Larsson, Hans Larsson, Kristoffer Melinder, Andreas Näsvik, Synnöve Trygg, Fredrik Trägårdh, Ragnhild Wiborg and Magnus Yngen as board members. Magdalena Persson was elected as new board member.
The annual general meeting re-elected Per E. Larsson as chairman of the board and Magnus Yngen as vice chairman of the board.
The remuneration to the board and for committee work was established to a total of SEK 6,795,000 to be distributed as follows:
- SEK 975,000 to the chairman of the board
- SEK 550,000 to the vice chairman of the board
- SEK 450,000 to each of the other board members
- SEK 200,000 to the chairman of the audit committee
- SEK 150,000 to each of the other two members of the audit committee
- SEK 250,000 to the chairman of the investment committee
- SEK 150,000 to each of the other eight members of the investment committee
- SEK 85,000 to each of the two members of the remuneration committee
Auditor and fees to the auditor
The annual general meeting re-elected Ernst & Young AB as auditor for the period until the end of the next annual general meeting. The auditing firm has appointed the authorized public accountant Jesper Nilsson as auditor in charge. Fees to the auditor shall be paid in accordance with approved invoices.
Guidelines for remuneration and other terms of employment for key executives
The annual general meeting approved the board’s proposed guidelines for remuneration and other terms of employment for key executives. The total remuneration is based upon three main components; base salary, incentive programs, and pension.
Long-term incentive program 2018
The annual general meeting approved the board’s proposal for a long-term incentive program. The program is to include up to 80 individual divided into three groups: 1) the CEO, the CFO and the CIO, 2) other members of the Group Management Team and 3) other senior managers and key employees. The total outcome from LTI 2018 may never exceed the value of 0.5 percent of the total number of outstanding shares in Intrum. The total costs for the program with maximum outcome are estimated to a maximum of MSEK 60, given certain assumptions. The company shall have the right to transfer up to 150,000 shares to the participants in Group 1 and 2 under the terms of the LTI 2018, not earlier than 31 March 2021 and not later than the Annual General Meeting 2021.
Acquisition and transfer of own shares
In accordance with the board’s proposal, the meeting authorized the board to until the end of the next annual general meeting resolve on purchase and transfer of the company’s own shares on Nasdaq Stockholm. The aggregated holding of the company’s own shares shall not at any time exceed 10 per cent of the total number of shares in the company.
Amendment of the articles of association
The annual general meeting resolved to amend § 1 of the articles of association, meaning that the name of the company is changed to Intrum AB.
The minutes of the annual general meeting will be posted on the company’s website within two weeks.
Board resolution to repurchase own share
At the statutory board meeting and empowered by the annual general meeting’s authorization, the board has resolved to initiate a program to repurchase up to 250,000 own shares to secure the long-term incentive program 2018.
The acquisition of shares shall take place on Nasdaq Stockholm and shall be managed by an investment firm or a credit institution which makes its trading decisions in relation to the company’s shares independently of, and without influence by, the company with regard to the timing of the purchases, in accordance with the EU Market Abuse Regulation (596/2014), the EU Commission’s delegated Regulation (2016/1052) and the applicable rules of Nasdaq Stockholm’s Rule Book for Issuers. The buyback program will run between 2 May and 22 June 2018.
1. The maximum number of shares that can be repurchased is 250,000. The company’s holdings may not exceed 10 per cent of all the shares in the company at any time.
2. Acquisition of shares may be made at a price per share within the recorded interval, i.e. the interval between the highest buying price and the lowest selling price.
3. Payment shall be made in cash.
The company does currently not hold any own share.
For further information, please contact:
Mikael Ericson, CEO & President
Tel: +46 8 546 102 02
Thomas Moss, acting CFO
Tel: +46 8 546 102 02
This information was submitted for publication, through the agency of the contact person set out above, at 17.00 CET on 2018.04.27.