Annual General Meeting of AAK AB
At the Annual General Meeting of AAK AB (publ.) on May 30, 2018 the following was resolved:
Board of Directors, auditor and fees
The number of directors will be six. The Meeting re-elected Märta Schörling Andreen, Lillie Li Valeur, Marianne Kirkegaard, Bengt Baron and Gun Nilsson as directors. Georg Brunstam was elected as new board member. Mikael Ekdahl has declined re-election. Georg Brunstam was elected as Chairman of the Board. The fees to the Board of Directors shall amount to a total of SEK 3,375,000 (including fees for committee work).
Re-election of the accounting firm PricewaterhouseCoopers, for a period of mandate of one year, consequently up to and including the Annual General Meeting 2019, whereby the accounting firm has informed that the authorized public accountant Sofia Götmar-Blomstedt will continue as auditor in charge. The Meeting resolved that the auditor shall be remunerated according to agreement.
At the subsequent statutory board meeting it was resolved to elect Georg Brunstam and Märta Schörling Andreen as members of the Remuneration Committee, Georg Brunstam being chairman of the committee. Gun Nilsson, Lillie Li Valeur and Märta Schörling Andreen were elected members of the Audit Committee, Gun Nilsson being chairman of the committee.
In accordance with the proposal of the Board of Directors, the Meeting resolved to declare a dividend of SEK 9.75 per share. Friday June 1, 2018 was determined as record day for the payment of dividend. Payment from Euroclear Sweden AB is expected to commence on Thursday June 7, 2018.
Märta Schörling Andreen (Melker Schörling AB), Henrik Didner (Didner & Gerge fonder), Lars-Åke Bokenberger (AMF) and Yvonne Sörberg (Handelsbanken Fonder) were re-elected as members of the Nomination Committee in respect of the Annual General Meeting 2019. Märta Schörling Andreen was appointed Chairman of the Nomination Committee.
Guidelines for remuneration to senior executives
The Meeting adopted guidelines for remuneration to senior executives in accordance with the Board of Directors’ proposal. The Board of Directors shall be entitled to deviate from the guidelines if, in an individual case, there are particular grounds for such deviation.
Share split and change of the articles of association
In accordance with the proposal of the Board of Directors, the Meeting resolved on a share split (Sw: uppdelning av aktier) 6:1 so that each existing share is divided into six shares and change of the articles of association so that the minimum number of shares permitted is one hundred eighty million and the maximum number of shares permitted is seven hundred twenty million. Thursday June 14, 2018 was determined as record day for the share split. After the share split is completed, the number of shares in the company will amount to 253,730,934.
Comments from the CFO
CFO Fredrik Nilsson reported on the company’s operations during the year of 2017 and the first quarter of 2018.
“Based on AAK’s customer value propositions for health and reduced costs, and our customer product co-development and solutions approach, we continue to remain prudently optimistic about the future. The main drivers are the continued positive underlying development in Food Ingredients and a continued improvement in Chocolate & Confectionery Fats”, commented Fredrik Nilsson, CFO.
Chief Marketing Officer Anne Mette Olesen presented AAK’s progress in the sustainability area. AAK’s new CEO (from May 2, 2018), Johan Westman, introduced himself to the shareholders.
The presentation can be found in its entirety on the company’s web site www.aak.com.
For further information, please contact:
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This information was submitted for publication, through the agency of the contact person set out above, at 4:45 p.m. CET on May 30, 2018.
AAK is a leading provider of value-adding vegetable oils & fats. Our expertise in lipid technology within foods and special nutrition applications, our wide range of raw materials and our broad process capabilities enable us to develop innovative and value-adding solutions across many industries – Chocolate & Confectionery, Bakery, Dairy, Special Nutrition, Foodservice, Personal Care, and more. AAK’s proven expertise is based on more than 140 years of experience within oils & fats. Our unique co-development approach brings our customers’ skills and know-how together with our own capabilities and mindset for lasting results. Listed on the Nasdaq Stockholm and with our headquarters in Malmö, Sweden, AAK has 20 different production facilities, sales offices in more than 25 countries and more than 3,300 employees. We are AAK – The Co-Development Company.