NCC’s 2012 Annual General Meeting
At today’s Annual General Meeting (AGM) of NCC shareholders, resolutions were passed on motions including thedividend, director fees, an increase in the number of AGM-elected Board members, election of auditor, guidelines for remuneration ofsenior executives and a long-term performance-based incentive program, as well as a buyback and transfer of NCC shares. The AGMapproved the income statements and balance sheets for 2011 and granted the Board and the President discharge from liability.
NCC’s AGM approved the Board of Directors’ motion to pay a dividend of SEK 10.00 (10.00) per share. The record date for receipt of dividends was set atWednesday April 11, 2012. The dividends are scheduled to be sent from Euroclear Sweden AB on Monday April 16, 2012.
In accordance with a proposal from the Nomination Committee, the Meeting re-elected the Board members Antonia Ax:son Johnson, Tomas Billing, Ulf Holmlund, Ulla Litzén and Christoph Vitzthum. Olof Johansson and Sven-Olof Johanssonwere elected as new Board members. Tomas Billing was elected Chairman of the Board.
Payment of director fees totaling SEK 3,300,000was resolved, distributed in the amount of SEK 750,000 to the Chairman of the Board and SEK 425,000 to each other AGM-elected member.
The registeredauditing firm PricewaterhouseCoopers AB was elected as the company’s auditor, with Håkan Malmström as auditor-in-charge. The auditing firm was elected until the close of the 2013 AGM.
Viveca Ax:son Johnson (Chairman) and Thomas Eriksson, President of Swedbank Robur AB, were reelected to the Nomination Committee, and Johan Ståhl, asset manager at Lannebo Fonder AB, was newly elected.
The AGMresolved that the guidelines for determiningsalaries and other benefits payable to Group Management as adopted by the 2011 AGM shall continue to apply with the following adjustments. The maximum short-term variable remuneration payable to the President and CEO and other members of Group Management will be reduced by 10 percentage points to 40 percent of the President and CEO’s fixed salary and 30-40 percent of the fixed salaryfor each of the other members of Group Management.
In addition, a resolution was passed to introduce a long-term performance-based incentive program (LTI 2012) for senior executivesand other key personnel, based on the terms and conditions stated in the official notification of the AGM.
In order to meet the obligations resulting fromLTI 2012,the AGM authorized the Board,during the period up to the following AGM, to buy back no more than 867,486 Series B shares and to transfer no more than of these 303,620 Series B shares to participants in the LTI 2012 program. The buybacks are to take place on the Nasdaq OMX Stockholm exchangeat a price per share withinthe price intervalregistered at the particulartime.
The AGM resolved to amend Article3 of the Articles of Association, wherebyshipping and department store operationsare to be removed from the company’s description of activities.
For further information, please contact:
Ulf Thorné, Acting SVP Corporate Communication, NCC Group,+46 (0) 8 585 523 46, +46 (0) 70 214 77 27
Johan Bergman, Head of Investor Relations, NCC Group, +46 (0) 8 585 523 53, +46 (0) 70-354 80 35
Magnus Jonsson, External Communication and Media Relations Manager, NCC Group, +46 (0) 8 585 52246
NCC’s media line +46 (0)8-585 519 00, E-mail:
This is the type of information that NCC could be obligated to disclose pursuant to the Securities Market Act. The information was issued for publication on April 4, 2012, at 7:15 p.m.
All of NCC:s press releases are available on www.ncc.se.
NCC is one of the leading construction and property development companies in the Nordic region. NCC had in 2011 sales of SEK 53 billion, with 17,500 employees.