Report from the Annual General Meeting of Beijer Electronics Group AB (publ)
Beijer Electronics Group’s Annual General Meeting for the financial year 2019 was held on Friday June 26, 2020. The AGM adopted all resolutions as earlier proposed by the Board of Directors and the Nomination Committee. A summary of the most important resolutions and a summary of the Annual General Meeting follows.
The AGM approved the presented Income Statement and Balance Sheet and the Consolidated Income Statement and Consolidated Balance Sheet. The Board members and Chief Executive Officer were discharged from liability.
The AGM decided, according to the proposal of the Board of Directors, that no dividend should be paid for the financial year 2019 and that the profits at the disposal of the AGM should be carried forward.
In his address to the Meeting, Beijer Electronics Group’s CEO Per Samuelsson presented the operations and the development of the business of Beijer Electronics Group for year 2019 and the first quarter 2020.
The AGM also resolved:
- to elect Bo Elisson as Chairman of the Meeting.
- that the Board of Directors shall consist of five members, without deputies.
- that fees of SEK 500,000 shall be paid to the Chairman of the Board and that fees of SEK 225,000 shall be paid to each of the other Board members (fees remain unchanged from previous year).
- that fees of SEK 75,000 will be payable to the Chairman of the Board for work in the audit committee, and that fees of SEK 50,000 will be payable to each of the other Board members of the committee (fees remain unchanged from previous year).
- that fees of SEK 50,000 will be payable to the Chairman of the Board for work in the remuneration committee, and that fees of SEK 30,000 will be payable to each of the other Board members of the committee (fees remain unchanged from previous year).
- that fees to Auditors shall be paid according to approved invoice.
- to re-elect Bo Elisson, Ulrika Hagdahl, Johan Wester, Karin Gunnarsson and Lars Eklöf as Board members.
- to elect Bo Elisson as Chairman of the Board.
- to appoint the registered public accounting firm Öhrlings PricewaterhouseCoopers AB, as the company´s auditor for the period until the close of the AGM 2021.
- to adopt the proposed instruction for the Nomination Committee, according to the proposal by the Nomination Committee.
- to adopt the remuneration guidelines for senior managers according to the Board of Directors’ proposal.
- to authorize the Board of Directors to decide to increase the company’s share capital by a maximum of 2,860,137 ordinary shares on one or more occasions before the next AGM 2021.
- to implement a long-term share based incentive program for 2020 (LTI 2020/2023) that comprises not more than 20 employees within the Beijer Electronics Group. The resolution also included decisions on authorization for the Board of Directors to resolve decisions on a directed issue of series C shares, authorization for the Board of Directors to repurchase all issued series C shares and transfer of own ordinary shares to participants in LTI 2020/2023.
- to resolve on amendments to the Articles of Association to adapt to implemented and upcoming legislative changes and to enable the Board to collect proxies and decide before the Annual General Meeting that shareholders should be able to exercise their voting rights by mail or e-mail.
All resolutions were passed with the requisite majority.
The Board of Directors
Beijer Electronics Group AB (publ)
Malmö, Sweden, June 26, 2020
Beijer Electronics Group AB (publ) is a growing powerhouse of innovators within mission-critical industrial digital technology and IIoT. With a strong focus on the connection between people, technology and data, we share a pride in having some of the world's leading global companies as our core customers. Since its start-up in 1981, BEIJER GROUP has evolved into a multinational group of complementary business entities with sales over 1.6 billion SEK in 2019.
The company is listed on the NASDAQ OMX Nordic Exchange Stockholm’s Small Cap list under the ticker BELE. www.beijergroup.com