Peab’s Annual General Meeting 2012

  • Dividend adopted at SEK 2.10 per share
  • Continued authorisation for the repurchase of shares

Peab AB (publ) held its Annual General Meeting today, Thursday. The Annual General Meeting adopted a dividend of SEK 2.60 according to the proposal from the Board of Peab. The record date will be Monday the 21thof May and the Euroclear will distribute this dividend on 24 May. The Annual General Meeting granted the Board and the Chief Executive Officer discharge for the financial year of 2011.

The Board members Karl-Axel Granlund,Göran Grosskopf, Fredrik Paulsson,Mats Paulsson, Svante Paulsson, Anne-Marie Pålsson, Annette Brodin Rampe and Lars Sköld were re-elected.Göran Grosskopfwas re-elected as Chairman of the Board, Mats Paulsson was re-elected as Vice Chairman of the Board.

It was decided that the Chair of the Board of Directors be paid SEK 450.000 (400.000) and that each of the remaining board members be paid SEK 175.000 (150.000). For their work on the Remuneration Committee and the Finance Committee, it was decided that a fee och SEK 30.000 (25.000) be paid to each member of those committees. Furthermore, it was decided that the Vice-Chair be paid a fee of SEK 2,765,000 as a special payment for being at the group’s disposal for matters relating to customers and markets. The total decided fee to be paid to board members therefore amounts to SEK 4.620.000 (1.250.000). It was decided that the fees be paid to auditors according to an approved account. 

The Annual General Meeting authorised the Board of Peab to, on one or more occasions, until the next Annual General Meeting, decide to issue B shares corresponding to a maximum of 10 percent of the registered share capital at the time of authorisation. New issues will be based on standard market terms. The Annual General Meeting authorised the Board of Peab to, on one or more occasions, until the next Annual General Meeting, buy back or transfer Peab shares.

The Annual General Meeting authorised the Board of Peab to, until the next Annual General Meeting,

 - decide to, on NASDAQ OMX Stockholm or through an offer to buy directed to all shareholders to buy back at the most as many shares so that after the acquisition the company’s holding of own shares corresponds to 10 percent of the all shares in the company. The shares may be bought on NASDAQ OMX Stockholm at a price within the registered price interval on each occasion or, when acquired through an offer to buy for a cash compensation, at a price corresponding to the lowest market price at the time of the offer with a maximum deviation of 30 % upwards,

- decide to, on NASDAQ OMX Stockholm or in connection with for example an acquisition, and with or without a deviation from shareholders’ preferential rights, divest a maximum of all own shares held by the company on NASDAQ OMX Stockholm, at a price within the registered price interval on each occasion or, if divested in some other manner, at a price corresponding to the market price of the shares at the time of the transfer with any deviation the Board considers appropriate.

If the use of the authorization for the acquisition and transfer of own shares combined with use of authorization for the issue, in order to let the company's shares constitute all or part of the purchase price at any one company, the number of shares to be sold and issued to the individual acquisition, together represent more than one-tenth of all shares in the company at the time of the decision authorizing the issue

The purpose of this authorisation is to improve the company’s capital structure, to finance acquisitions with shares and such like and/or to make it possible through a later withdrawal to neutralise the dilution that can occur when convertibles issued by the Group are converted.

Malte Åkerström and Göran Grosskopf were re-elected to the nominating committee. Bengt Johansson and Magnus Swärd were newly elected to the nominating committee. Bengt Johansson was elected as chairman.

The Annual General Meeting approved a change in Peab’s remuneration policy: An employee may receive severance pay. If a severance pay is paid, the total remuneration for salary during the period of notice and severance pay may not exceed 24 monthly wages.

All decisions by the Annual General Meeting were made with the necessary majority of votes.

For further information, please contact:

Jesper Göransson, CFO Peab +46 733 371013

Gösta Sjöström, Communication Peab +46 733 371010

Peab AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.

The information was submitted for publication at 6.00 p m on 15 May 2012.

Peab is the Nordic Community Builder with 15,000 employees and a net sale exceeding SEK 40 billion. The Group’s subsidiaries have strategically located offices in Sweden, Norway and Finland. The share is listed on NASDAQ OMX Stockholm. The registered office of the Group is at Förslöv, Skåne in south of Sweden.

About Us

Peab is a leading Nordic construction and civil engineering company with about 15,000 employees and about SEK 51 billion in net sales. The Group has strategically placed offices in Sweden, Norway and Finland. Company headquarters are in Förslöv on Bjäre Peninsula in southern Sweden. The Peab share is listed on NASDAQ Stockholm.

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