Resolutions made at Axfood AB's Annual General Meeting
On 16 March 2011 the Annual General Meeting (AGM) of Axfood AB resolved that the Company's board shall consist of seven directors. The AGM resolved to re-elect Antonia Ax:son Johnson, Peggy Bruzelius, Maria Curman, Fredrik Persson, Odd Reitan, Marcus Storch and Annika Åhnberg. Fredrik Persson was elected as Chairman of the Board.
The AGM resolved to declare an ordinary dividend of SEK 12 per share. The record date is 21 March 2011. Dividends are expected to be sent out via Euroclear Sweden AB on 24 March 2011. Compensation of senior executives was approved in accordance with the Board's proposal.
The guidelines for appointment of the Nominating Committee were adopted in accordance with the Board's proposal. The owner who, based on ownership statistics from Euroclear Sweden AB, has the most shares and votes, shall after consulting with the three subsequently largest shareholders, appoint a nominating committee consisting of five persons. If a material change takes place in the ownership structure after the Nominating Committee’s has been constituted, then the composition of the Nominating Committee shall also be changed.
The AGM approved the Board's recommendation that directors' fees shall be payable in a combined amount of SEK 2,400,000. The previous level of directors' fees was SEK 2,225,000.
The AGM resolved to adopt new Articles of Association. The manner of issuing notices of Annual General Meetings was changed in accordance with new rules in the Swedish Companies Act. In addition, the concept of "nominating committee" was changed in the Swedish wording of the Articles of Association [from nomineringskommitté to valberedning] [English wording not affected].
Further, the AGM resolved to adopt a programme with the substance that employees of the Axfood Group are given the opportunity to acquire shares in store companies within Hemköpskedjan. The resolution covers a maximum of ten Hemköp stores and applies for the period until the next Annual General Meeting of Axfood AB.
The Board constituted itself after the AGM and elected Marcus Storch as Vice Chairman.
For further information, please contact:
Fredrik Persson, Chairman of the Board, Axfood AB, tel. +46-8-701 61 00
Anders Strålman, President and CEO, Axfood AB, tel. +46-70-293 16 93
Axfood AB conducts food retail and wholesale business in Sweden. Retail business is conducted through the wholly owned store chains Willys, Hemköp and PrisXtra, comprising 230 stores in all. In addition, Axfood collaborates with a number of proprietor-run stores that are tied to Axfood through agreements. These include stores within the Hemköp and Willys chains as well as stores run under the Handlar’n and Tempo profiles. In all, Axfood collaborates with approximately 840 proprietor-run stores. Wholesaling is conducted through Dagab and Axfood Närlivs. Axfood is listed on Nasdaq OMX Stockholm AB's Large Cap list. Axel Johnson AB is the principal owner, with approximately 46% of the shares.