REPORT FROM THE ANNUAL GENERAL MEETING OF BROSTRÖM AB
REPORT FROM THE ANNUAL GENERAL MEETING OF BROSTRÖM AB MD's speech In his speech, the Managing Director Lennart Simonsson commented on the positive market developments since mid last year which contributed to Broström's net turnover growth during 2000 of 23 % with a 20 % EBIT margin. The improvements were driven by an increased world oil demand in combination with a number of significant structural changes in the tanker shipping markets. The on-going consolidation in the oil industry has strengthened the outsourcing trend and set new requirements on logistics providers, such as Broström. Following the Erika accident and other similar tragedies the oil and shipping industry is now focusing more and more on quality and safety issues. This has accelerated the scrapping of older tonnage in the market, a development that has contributed to further strengthen Broström's position with its average fleet age of 7 years compared to the world market average of 16 years. The MD's speech in full can be downloaded from Broström's website www.brostrom.se. Dividend The AGM approved and adopted a cash dividend of SEK 2 per share in accordance with the Board's proposal. The record date will be 8 May and payment is expected to take place on 11 May 2001. Board of Directors Peter Cowling, Paul Govaart, Lars-Olof Gustavsson, Vilgot Johansson, Claes Lundblad, Leif Rogersson and Ton Spoor were all re-elected. At the Board meeting following the AGM, Lars-Olof Gustavsson was re- elected as Chairman of the Board. Göteborg 4 May 2001 BROSTRÖM AB (publ) For further information: Lennart Simonsson, Managing Director, tel +46 31 61 61 00 General information about Broström can be found on www.brostrom.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/01/09/20040109BIT00330/wkr0001.doc http://www.waymaker.net/bitonline/2004/01/09/20040109BIT00330/wkr0002.pdf