Bulletin from the 2017 Annual General Meeting of Volati AB (publ)
Today, the AGM of Volati AB (publ) adopted the income statement and balance sheet for the 2016 financial year and resolved on, inter alia, a dividend of SEK 0.50 per ordinary share and SEK 40.00 per preference share, discharge from liability for the board and the managing director, re-election of the members and chairman of the board and on an authorisation for the board to resolve on acquisitions and transfers of the company’s own preference shares.
Adoption of the income statement and balance sheet
The AGM adopted the income statement and balance sheet and the consolidated income statement and consolidated balance sheet for the 2016 financial year.
The AGM resolved, in accordance with the board’s proposal, on a dividend of SEK 0.50 per ordinary share. The record date for the ordinary share dividend is 22 May 2017. Payment of the dividend is expected to be effected by Euroclear Sweden AB on 26 May 2017.
Furthermore, the AGM resolved on a dividend of SEK 40.00 per preference share, to be paid quarterly in an amount of SEK 10.00 per preference share. The record dates for distribution of the preference share dividend are 5 August 2017, 5 November 2017, 5 February 2018 and 5 May 2018, or the previous business day, in accordance with the company’s articles of association.
Election of the board of directors and determination of remuneration to the board
In accordance with the proposal of the nomination committee, the AGM re-elected Karl Perlhagen, Patrik Wahlén, Björn Garat, Louise Nicolin and Christina Tillman as board members for the time until the close of the next AGM. Karl Perlhagen was re-elected as chairman of the board for the same period.
The AGM also resolved that remuneration payable to the board shall amount to SEK 400,000 to the chairman and SEK 200,000 to each of the other board members, with the exception of board members employed by the company or any of its subsidiaries.
At the board meeting following the AGM, the board resolved that the board in its entirety will continue to discharge the tasks that under the Swedish Corporate Governance Code otherwise would be discharged by an audit committee and a remuneration committee established by the board.
Election of auditors and determination of auditors’ fees
The AGM resolved in accordance with the proposal of the nomination committee to re-elect the registered accounting firm Öhrlings PricewaterhouseCoopers AB as the company’s auditors for the time until the close of the next AGM. Öhrlings PricewaterhouseCoopers AB has notified that Nicklas Renström will continue to serve as the auditor in charge. Fees to the auditor will be payable in accordance with approved invoices.
Authorisation on acquisitions and transfers of the company’s own preference shares
The AGM resolved to authorise the board of directors to resolve on acquisitions and transfers of the company’s own preference shares in accordance with the board’s proposal. The authorisation means that the board, on one or several occasions before the next AGM, may decide on acquisitions and transfers of the company’s own preference shares. Acquisitions may be made on Nasdaq Stockholm or through an offer directed to all holders of preference share of not more than the number of preference shares that would result in the company’s holding of preference shares amounting to a maximum of one tenth of all of the outstanding shares in the company. Accordingly, the authorisation means that the board may resolve to acquire all of the outstanding preference shares in the company. The rationale for acquisitions of the company’s own preference shares shall be to enable an optimised capital structure and to enable the use of own preference shares as consideration for or as financing of acquisitions of companies or businesses.
The AGM also resolved on the following items:
- The discharge from liability of the members of the board and of the managing director.
- An instruction for the appointment of members of the nomination committee.
- Guidelines for remuneration to the senior management.
For further information, please contact:
Mårten Andersson, managing director of Volati AB, +46 (0)72-735 42 84, firstname.lastname@example.org
Volati AB (publ)
Engelbrektsplan 1, SE-114 34 Stockholm, Sweden
Tel: +46 (0)8-21 68 40, e-mail: email@example.com
Corp. Reg. No. 556555-4317
Volati is a Swedish industrial group formed in 2003, comprising some 40 operating companies divided into 12 business units organised in three business areas: Trading, Consumer and Industry. Volati primarily acquires companies with proven business models, leading market positions and strong cash flows at reasonable valuations, and develops these with an emphasis on long-term value creation. The strategy is to build on the identity and entrepreneurial spirit of the companies, adding leadership, expertise, processes and financial resources. Volati has operations in 16 countries, with a total of about 1,200 employees and annual sales of approximately SEK 3.2 billion. Volati’s common share and preference share are listed on Nasdaq Stockholm. Further information is available at www.volati.se.