Annual General Meeting of Shareholders in Momentum Group AB on 29 August 2019

The following resolutions, among others, were passed at the Annual General Meeting of Shareholders and subsequent statutory Board meeting of Momentum Group AB (publ) (“the Company”) held today, 29 August 2019:

Dividend
The Annual General Meeting of Shareholders resolved in favour of a dividend of SEK 3.20 per share in accordance with the motion of the Board of Directors. The record date for the dividend was set as Monday, 2 September 2019. The dividend is expected to be paid by Euroclear Sweden AB on Thursday, 5 September 2019.

Discharge from liability of the Board of Directors and the President & CEO
The Annual General Meeting discharged the Board of Directors and the President & CEO from liability for their administration during the 2018/19 financial year.

Board of Directors and auditors
The Annual General Meeting re-elected regular Directors Charlotte Hansson, Stefan Hedelius and Gunilla Spongh. Johan Sjö and Göran Näsholm were elected as new Directors in accordance with the motion of the Election Committee. Johan Sjö was elected Chairman of the Board. Current Director Fredrik Börjesson and Chairman of the Board Jörgen Wigh had declined re-election.

A presentation of the members of the Board of Directors is available on the Company’s website: www.momentum.group.

At the statutory Board meeting following the Annual General Meeting, the entire Board was appointed to constitute the Company’s Audit Committee. Chairman of the Board Johan Sjö and Stefan Hedelius were appointed to constitute the Company’s Compensation Committee.

The Meeting re-elected the registered accounting firm KPMG AB as the Company’s auditors until the end of the 2020 Annual General Meeting. KPMG has appointed Authorised Public Accountant Håkan Olsson Reising as Auditor in Charge.

Guidelines for determining remuneration and other terms of employment for the President & CEO and other members of senior management
The Annual General Meeting resolved to approve the guidelines for determining remuneration and other terms of employment for the President and CEO and other members of senior management in accordance with the Board’s motion.

Repurchase and conveyance of own shares
The Annual General Meeting resolved, in accordance with the Board’s motion, to authorise the Board, on one or more occasions during the period until the next Annual General Meeting, to acquire and divest Class B shares in the Company. The purpose of such repurchases is to be able to adapt the Group’s capital structure and to pay for future acquisitions of businesses and operations using treasury shares. Holdings of treasury shares are also used to secure the Company’s obligations under the share-based incentive programmes adopted at the Extraordinary General Meeting of Shareholders in November 2017 and at the Annual General Meeting of Shareholders in August 2018.

Acquisitions are to be carried out on Nasdaq Stockholm at a price that is within the registered price range at any given time, meaning the range between the highest purchase price and the lowest selling price. The Company’s total holding of treasury shares may at no time exceed 10 percent of the total number of shares in the Company. The total number of shares in Momentum Group AB amounts to 28,265,416, and the Company currently holds 500,000 Class B treasury shares, corresponding to 1.8 percent of the total number of shares and 1.3 percent of the total number of votes.

The Meeting authorised the Board, in deviation from the shareholders’ preferential rights, to divest Class B shares held in treasury in connection with acquisitions of companies or operations, or to secure the conveyance of shares in connection with the Company’s outstanding incentive programmes at any given time, outside Nasdaq Stockholm at a price corresponding to their assessed market value.

At the statutory Board meeting following the Annual General Meeting, the Board resolved to exercise the mandate it had received from the Meeting for the period until the next Annual General Meeting to repurchase Class B shares in the Company.

Information about the 2019 Annual General Meeting
Further information about Momentum Group’s 2019 Annual General Meeting is available on the Company’s website, www.momentum.group, under: Corporate Governance / General Meetings of Shareholders.

Stockholm, 29 August 2019

Momentum Group AB (publ)

For further information, please contact:
Mats Karlqvist, Head of Investor Relations – Tel: +46 70 660 31 32 / e-mail: mats.karlqvist@momentum.group

The information in this document is such that Momentum Group AB (publ) is obliged to make public pursuant to Nasdaq Stockholm’s Rule Book for Issuers. The information was submitted for publication on 29 August 2019 at 6:30 p.m. CET.

      This document is in all respects a translation of the Swedish original press release. In the event of any differences between this translation and the Swedish original, the latter shall prevail.

Momentum Group is a leading reseller of industrial consumables and components, service and maintenance to professional end users in the industrial and construction sectors in the Nordic region. The Group has annual revenue of approximately SEK 6 billion and some 1,700 employees. Momentum Group AB (publ) has been listed on Nasdaq Stockholm since June 2017. Read more at www.momentum.group.