Annual General Meeting April 16, 2008
Dividend 6:50
The Annual General Meeting has approved a dividend for the fiscal year 2007 of SEK 6:50 per share. The record date for entitlement to the dividend is Monday April 21, 2008. The dividend is expected to be paid out through the agency of VPC (Swedish Securities Register Centre) on Thursday April 24 2008.
Election of board members and fees
Martin Svalstedt, Bengt A Dahl, Cecilia Geijer, Svend Holst-Nielsen, Lars-Åke Helgesson, Mikael Jonson, and Nils-Erik Danielsson were re-elected members of the board. Ann-Christin Edling-Jönsson was elected as a new member of the board.
Ann-Christin Edling-Jönsson is CEO in Departments & Stores Europé AB, a company in RNB Retail and Brands. Ann-Christin is also a member in RNB’s management team and has among others had different positions in the company Polarn O. Pyret.
At a statutory board meeting following the Annual General Meeting Martin Svalstedt was re-elected chairman of the board in Ballingslöv International AB.
The Annual General Meeting determined the aggregated fee for the board to SEK 1.425.000 to be allocated with SEK 325.000 to the Chairman of the board and SEK 150.000 to the other members of the board elected on the Annual General Meeting.
A special fee to members in the audit committee and remuneration committee was determined to SEK 200.000. The chairman of the committees will get SEK 50.000 and the other members of the committees will get SEK 25.000. That means that the fee to the board is unchanged with exception of the fee to the committees that increase SEK 50.000 to compensate for the increased work.
Election committee
The Annual General Meeting passed a resolution that before the general annual meeting in 2009 an election committee is formed by having the four largest shareholders, in quarter 3, 2008, if they wish, appoint one representative each, that together with the chairman of the board constitute the election committee. The chairman of the election committee is elected by the member of the election committee however the chairman of the board is not eligible for election.
The names of the four representatives, who they represent and who has been elected chairman shall be announced as soon as the representatives have been appointed, and if possible, no later than six months before the general annual meeting 2009.
No compensations shall be paid to members of the election committee.
If a shareholder who has appointed a representative to the election committee significantly reduce its stake in Ballingslöv International AB, the representative shall resign from the election committee. If a member of the election committee for any reason resign, a new large shareholder, together with the existing members of the election committee appoint a new representative to the election committee.
The election committee shall develop suggestions to the general annual meeting 2009 regarding, i) chairman at the general annual meeting, ii) members of the board iii) fees to the members of the board, iv) audit fees and v) election committee for the general annual meeting 2010.
Share Split
The Annual General Meeting decided on a share split by following:
Every share will be split into three shares, whereby the total shares in company will be 32 177 272 shares
To authorize the board to establish the date of execution of share split. The date will be before record day at next Annual General Meeting
The Articles of Association be amended, implying that the limits for the maximum and minimum number of shares are amended to be not less than 22 500 000 and not more than 90 000 000
The motive behind the split is to increase the liquidity in the company’s share
The Annual General Meeting also decided to authorize Ballingslöv International AB’s CEO to take steps in the decision above as is required in connection to the registration with Swedish Companies Registration Office and VPC.
Proposal for guidelines on wages and other remuneration to senior executives
The Annual General Meeting decided the following Proposal for guidelines on wages and other remuneration to senior executives:
Ballingslöv shall offer a competitive total compensation package that makes it possible to recruit and retain senior executives. Compensation to company management shall consist of a basic salary, flexible remuneration, pension and other remuneration. Long-term incentive schemes may also be considered in due course.
The basic salary shall take into account the individual’s areas of responsibility and experience, and shall be reviewed on annual basis. The flexible remuneration depends on the extent to which the individual achieves quantitative targets. For the CEO, the flexible element of salary may be no more than 50 per cent of the basic salary. For other senior executives, the flexible salary varies depending on the position and agreement, and may be no more than 30 per cent of the basic salary.
Pension arrangements shall be competitive in relation to what is offered for similar positions in the market, and shall be based on contribution-based solutions. The retirement age shall be 65.
Company management comprises the CEO and other members of Group management.
Ballingslöv, April 16, 2008
Ballingslöv International AB (publ)
Further Information
Chairman of the board CEO & President
Martin Svalstedt Nils-Erik Danielsson
Mobile: +46 (0)70 775 85 41 Mobile: +46 (0)708-94 61 01
Phone: +46 (0)31 774 35 71 Phone: +46 (0)451-461 01
www.ballingslov.se
Org No: 556556-2807