Bonava’s Board of Directors to withdraw and revise proposal for incentive programme

The Board of Directors of Bonava AB has decided to withdraw the previously announced proposal to the Annual General Meeting on 1 April regarding the performance-based long-term incentive programme.

Ahead of the company’s Annual General Meeting on 1 April 2022, Bonava’s Board of Directors has presented a proposal for a performance-based long-term incentive programme for the Executive Management Group and other key executives. The incentive programme is similar to the incentive programme that the Annual General Meeting of Bonava resolved on in the preceding year and constitutes a remuneration component aimed at aligning the interests of the shareholders and the participants to ensure long-term value creation.

On 3 March 2022, Bonava announced the wind down of its operations in Russia due to the ongoing situation in Ukraine. This occurred after the Board of Directors presented its proposed incentive programme. The wind down of operations in Russia impacts Bonava’s business. The effects of the wind down is being analysed and is expected to be completed shortly. Pending that analysis the Board of Directors has decided to withdraw the proposed incentive programme. Thereby enabling it to revise and better adapt the incentive programme to Bonava’s circumstances subsequent to the wind down in Russia.

The Board of Directors intends to convene an extraordinary general meeting later in the spring and propose that the extraordinary general meeting resolve on the introduction of a revised incentive programme. The notice convening the extraordinary general meeting will be published separately as soon as the Board has taken a decision thereon.

For more information, please contact:

Anna Falck Fyhrlund, Head of Investor Relations
anna.falck@bonava.com
Tel: +46 707 604 914

Bonava is a leading residential developer in Europe with the purpose to create happy neighbourhoods for the many. The company is the first residential developer in Europe to receive approval from the Science Based Targets initiative for its climate targets. With its 2,100 co-workers, Bonava develops residential housing in Germany, Sweden, Finland, Norway, St. Petersburg, Estonia, Latvia and Lithuania, with net sales of approximately SEK 15.5 Bn in 2021. Bonava’s shares and green bond are listed on Nasdaq Stockholm.

For more information about us, visit: www.bonava.com