Axfood’s Board of Directors withdraws proposal on an amendment to the Articles of Association
The Board of Directors of Axfood has decided to withdraw a proposal ahead of the Annual General Meeting on 20 March regarding an amendment to the Articles of Association that would allow the Board to decide on a digital general meeting.
On 13 February, the notice to Axfood's Annual General Meeting, to be held on 20 March 2024 in Stockholm, was published. In the notice, the Board of Directors proposed an amendment to § 9 of the Articles of Association that would allow the Board to decide that a general meeting should be held digitally.
The Board's intention with the proposal was not that Axfood's general meetings should transition to being digital only. The ambition was rather to, without risk of contestation, enable the Board to act responsibly in exceptional situations where it would be inappropriate to hold a physical general meeting. Axfood, who firmly believes in the physical meeting, has traditionally held physical general meetings and intends to continue to uphold this tradition also going forward.
- After publication of the notice to the Annual General Meeting, it has become clear that certain shareholders interpret the proposal as if our view on physical general meetings has changed. That is not the case, however out of respect for the shareholder dialogue, the Board has decided to withdraw the proposal, says Chairman of the Board Mia Brunell Livfors.
For further information, please contact:
Alexander Bergendorf, Head of Investor Relations, Axfood AB, tel +46 73 049 18 44
Axfood aspires to be the leader in good and sustainable food. Our family of companies includes the store chains Willys and Hemköp as well as Tempo, Handlar’n and Matöppet. B2B sales are handled through Snabbgross, and our support company Dagab is responsible for the Group's product development, purchasing and logistics. The Axfood family also includes Middagsfrid and Urban Deli as well as the partly owned companies Apohem, Eurocash, City Gross and Mathem. Together the Group has more than 13,000 employees and sales of more than SEK 80 billion. Axfood has been listed on Nasdaq Stockholm since 1997, and the principal owner is Axel Johnson AB. Read more at www.axfood.com.
