Resolutions at Lifco’s Annual General Meeting 2016
At the Annual General Meeting of Lifco AB held on 12 May 2016, the following was
Election of Board of Directors
Carl Bennet, Gabriel Danielsson, Ulrika Dellby, Erik Gabrielson, Ulf Grunander,
Fredrik Karlsson, Johan Stern and Axel Wachtmeister were re-elected as members of the Board. Annika Espander Jansson was elected new member of the Board. Carl Bennet was re-elected Chairman of the Board.
Fees to the Board of Directors
It was resolved that remuneration to the Board of Directors shall amount to a total of SEK 5,175,000, excluding remuneration for Committee work, of which SEK 1,150,000 to the Chairman and SEK 575,000 to each of the other Board members elected by the Meeting who are not employees of Lifco Group. In addition hereto, the Meeting resolved that work in the Audit Committee shall be compensated with SEK 168,000 to the Chairman and SEK 84,000 to each of the other members, while work in the Remuneration Committee shall be compensated with SEK 126,000 to the Chairman and SEK 63,000 to each of the other members.
Election of auditors
The registered public accounting firm PricewaterhouseCoopers AB was re-elected auditor of the company for a term of one year. PricewaterhouseCoopers has informed that Magnus Willfors will be the principal auditor and Martin Johansson co-auditor. It was resolved that auditor fees shall be paid in accordance with approved account.
In accordance with the proposal of the Board of Directors and the CEO, the Annual General Meeting resolved to declare a dividend of SEK 3.00 per share. 16 May 2016 was determined as record date for dividend.
Guidelines for Remuneration to Senior Executives
The Annual General Meeting approved the proposal of the Board regarding guidelines for remuneration to senior executives, which principally entail the following. Remuneration and other terms and conditions of employment for senior executives shall be based on market conditions and be competitive in all markets where Lifco operates, to ensure that competent and skillful employees can be attracted, motivated and retained. The total remuneration to senior executives shall comprise basic salary, variable remuneration, pensions and other benefits. The basic salary shall be based on the areas of responsibility and experience of the individual executive. Basic salary and variable remuneration must be in proportion to the responsibility and authority of the executive concerned. The variable remuneration shall be connected to predetermined and measurable criteria elaborated with the purpose to promote the long-term added value of the Company. The Board shall retain the right to deviate from the guidelines if motivated by particular reasons on an individual basis.
Divestments of the subsidiaries Proline Iceland EFT and Proline Relining SL
The Annual General Meeting approved the proposal of the Board regarding the divestments of the shares in the subsidiaries Proline Iceland EFT and Proline Relining SL to the minority shareholders.
The decisions can be read in full at www.lifco.se.
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Lifco acquires and develops market-leading niched operations with the potential to deliver sustainable profit growth and strong cash flows. The Group has three business areas: Dental, Demolition & Tools and Systems Solutions. Lifco has a clear corporate philosophy which implies a long-term perspective, focus on profits and a highly decentralized organization. Lifco has 133 companies in 28 countries. In 2015, the Group’s net sales amounted to SEK 7.9 billion, EBITA was SEK 1.2 billion and the EBITA margin was 15.0%. For more information, visit www.lifco.se.
This information is made public 12 May 2016 at 06.45pm CET according to the Securities Market Act, the Financial Instruments Trading Act and/or the regulations of Nasdaq Stockholm.