Peab’s Annual General Meeting 2016
- Dividend set at SEK 2.60 per share
- Continued authorization regarding new issues of B shares
- Continued authorization to acquire and divest own shares
- Approval of the transfer of shares in subsidiary Peab FU Linné AB
Peab AB (publ) held its Annual General Meeting (AGM) on Tuesday. According to the proposal by the Board of Directors the AMG decided on a dividend of SEK 2.60 per share. The record day will be Thursday 12 May and dividends are expected to be disbursed by Euroclear on Tuesday the 17th of May.
The AGM discharged the Board members and the CEO from liability for the financial year of 2015.
Board members Karl-Axel Granlund, Göran Grosskopf, Kerstin Lindell, Mats Paulsson, Fredrik Paulsson, Lars Sköld and Nina Udnes Tronstad were reelected. Malin Persson was newly elected. Göran Grosskopf was reelected Chairman and Mats Paulsson was reelected Vice-Chairman.
The registered accountant firm, KPMG AB, was reelected.
Remuneration to the Chairman of the Board of Directors was set at SEK 560,000 (535,000) and for each of the other board members at SEK 235,000 (210,000). Remuneration for work on the Remuneration and Finance Committees was set at SEK 30,000 (unchanged) for each member of those committees and for work on the Audit Committee at SEK 30,000 (25,000) for each member. Furthermore, the Vice-Chairman will receive SEK 2,765,000 (unchanged) as a special payment for being at the Group's disposal for matters relating to customers and markets.
The accountants will be compensated according to approved invoices.
The AGM authorized the Board of Directors to decide, on one or more occasion during the period up to the next Annual General Meeting, on a new issue of B shares corresponding at the most to a total of 10 per cent of the registered share capital at the time of the authorization, with or without preferential rights for current shareholders.
The AGM authorized the Board of Directors, during the period up to the next Annual General Meeting:
- to decide to acquire, on NASDAQ Stockholm AB or through an acquisition offer aimed at all shareholders or holders of shares of a particular class, a maximum number of shares so that the company's holding of its own shares after the acquisition does not exceed one tenth of all shares in the Company.
The shares may be acquired on NASDAQ Stockholm AB at a price within the price interval registered at any given time and, in the case of acquisition through an acquisition offer, at a price equivalent to the lowest stock market price at the time of the offer with a maximum upward deviation of 30%. Shares may only be acquired for compensation in cash,
- to decide to transfer, on NASDAQ Stockholm AB or in connection with, for example, a corporate acquisition and with or without any deviation from the shareholders' preferential rights, a maximum of all the company's own shares held by the company on NASDAQ Stockholm AB at a price within the price interval registered at any given time and, in the case of a sale by other means, at a price equivalent to the stock market price of the shares at the time of the transfer with any deviation that the Board of Directors may deem appropriate.
The AGM approved the transfer of 50 percent of shares in the by Peab fully owned subsidiary Peab FU Linné AB with the subsidiaries Annehem Hyllie Point 3 AB and Annehem Hyllie Point 4 AB to Volito Fastigheter AB. Peab FU Linné AB and subsidiaries own the properties Värdshuset 5 and Värdshuset 4 containing a hotel and development rights for offices. The properties are situated at Hyllie Stationstorg in Malmö, Sweden.
The purchase price is based on an underlying property value of SEK 777 million, of which SEK 565 million are related to Värdshuset 5 (the hotel) and SEK 212 million to Värdshuset 4 (development rights for offices etc.).
Karl-Axel Granlund is a member of the Board of Directors in Peab AB and also indirectly the principle owner of Volito AB and therefore indirectly controls Volito Fastigheter AB. The Board of Directors therefore considers the transfer a transaction with related parties which according to the Leo Law and general good practice on the stock market should be submitted to the Annual General Meeting for approval with special majority.
Ulf Liljedahl, Göran Grosskopf, Mats Rasmussen and Malte Åkerström were reelected to the Nominating Committee. Ulf Liljedahl was elected Chairman.
The AGM adopted the Board’s proposed remuneration policy.
All AGM decisions were passed with the required majority.
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 on 10 May 2016 at 6:00 p.m.
For further information, contact:
Niclas Winkvist, CFO of Peab +46 431 89109
Gösta Sjöström, Information +46 733 371010
Peab is the Nordic Community Builder with some 13,000 employees and net sales exceeding SEK 44 billion. The Group has strategically located offices in Sweden, Norway and Finland. The share is listed on NASDAQ Stockholm. The registered office of the Group is at Förslöv, Skåne in south of Sweden.