ANNUAL GENERAL MEETING IN BONG AB (publ)
The Annual General Meeting in Bong AB (publ) held on 12 May 2011 adopted the following resolutions.
Board of Directors and Auditors
Re-election of Mikael Ekdahl, Alf Tönnesson, the company’s President and CEO Anders Davidsson, Christian W. Jansson, Ulrika Eriksson, Stéphane Hamelin and Eric Joan as ordinary board members.
Mikael Ekdahl was re-elected as Chairman of the Board and Alf Tönnesson as Deputy Chairman.
Directors’ fees were set at totally SEK 1,200,000 and will be apportioned in the amount of SEK 300,000 to the Chairman and SEK 150,000 to each of the other members not employed with the company. Fees for committee work will be paid to the Chairman of the Audit Committee with SEK 100,000 and SEK 50,000 to each of the members.
Election of the accounting company PricewaterhouseCoopers AB for a one year period of mandate, consequently, up to and including AGM 2012, with authorised public accountant Eric Salander as auditor in charge. Fees to the auditors will be paid as per agreement.
Dividend
The Meeting adopted the proposal of the Board of Directors for a dividend of SEK 1.00 per share. Tuesday 17 May 2011 was resolved as record date for the dividend. The dividend is expected to be distributed by Euroclear Sweden AB, starting Friday 20 May 2011.
Nomination and Remuneration Committee
Alf Tönnesson (Aktiebolaget Cydonia), Mikael Ekdahl (Melker Schörling AB), Erik Sjöström (Skandia) and Peter Edwall (Ponderus Securities AB) were re-elected members of the Nomination Committe for the AGM 2012 and Alf Tönnesson was re-elected Chairman of the Nomination Committee.
At the subsequent statutory board meeting Mikael Ekdahl and Alf Tönnesson were re-elected and Stéphane Hamelin was elected as new member of the Remuneration Committee and Mikael Ekdahl and Christian W. Jansson were re-elected as members of the Audit Committee for the period up to the next statutory board meeting.
Guidelines for Remuneration to Senior Executives
The AGM resolved to establish guidelines for remuneration to senior executives entailing principally that remuneration to senior executives shall consist of a fixed salary, a variable remuneration, other benefits and pension and that the total remuneration shall be according to market conditions and competitive. The variable part of the salary shall have a pre-deterimined cap and may as a fundamental principle never exceed 60 per cent of the fixed annual salary. The variable remuneration shall be subject to the fulfilment of certain financial targets and also be connected to the achievement of individual targets. The variable remuneration shall not qualify for pension. Pension benefits shall be either income or fee based, or a combination of both, with a pension age of 65 years.
On notice of termination by the officer, the notice period shall normally be six months. On dismissal by the company, the notice period and the period of severance pay shall totally not exceed 24 months. The guidelines in full are published on the company’s website.
Authorisation of the Board of Directors to Resolve on Acquisition of the Company’s Own Shares on the Stock Exchange
The AGM resolved in accordance with the proposal of the Board of Directors for an authorisation of the Board of Directors to resolve on the acquisition of the company’s own shares on the stock exchange to enable supply of LRE shares to participants in LRE according to the terms adopted by the extraordinary general meeting on 22 October 2010.
Malmö, 12 May 2011
Bong AB (publ)
The Board of Directors
For further information, please contact Anders Davidsson, President and CEO of Bong AB. Telephone (switchboard) +46 44 20 70 00, (direct no) +46 44 20 70 80, (mobile) +46 70 545 70 80.
This information is of the kind that Bong AB (publ) are obliged to publish pursuant to the securities market act and/or the act on trade with financial instruments. The information was given for publication at 5.00 p.m. on 12 May 2011.
Bong is one of Europe’s leading packaging and envelope companies that offers solutions for distribution and packaging of information, adverising offers and light products. The packing concept ProPac and Russia are important growth areas within the Group. After the merger with Hamelin’s envelope division, the Group has a turnover of SEK 3.5 billion and 2400 employees in 15 countries. Bong has a very strong market position, particularly in Northern Europe and the Group sees attractive opportunities for further expansion and development. Bong is a publicly listed company and its shares are quoted on NASDAQ OMX, Stockholm (Small Cap).