Summary from the Annual General Meeting of Cherry AB (plc)
Cherry AB (PLC) Annual General Meeting was held on May 12, 2015 at 4.30 PM, in Redeye AB’s premises,
Mäster Samuelsgatan 42, Stockholm.
Dividend
The AGM approved the parent company’s and the group’s income statements and balance sheets, according to the annual report for the fiscal year 2014. The meeting decided, that no dividends are paid for 2014 and that the loss for the year is settled with the premium fund.
Board
For the period until the next Annual General Meeting it was decided to re-elect as board members Morten Klein, Anna Bergius, Gunnar Lind, Magnus Berglind and Rolf Åkerlind and in addition elect Anders Holmgren. It was recorded that Martin Wattin has notified the nomination committee that he declines re-election to the Board. Rolf Åkerlind was elected Chairman of the Board.
It was decided that the remuneration to the Board of directors will amount to SEK 1,170,000, of which SEK 370,000 is paid to the Chairman and SEK 160,000 to each of the other directors.
It was decided to appoint the audit firm PricewaterhouseCoopers AB with Alexander Lyckow as the responsible auditor. It was decided that remuneration to the auditor would be paid according to the approved fees.
It was unanimously decided to grant the directors and the CEOs discharge for the operations of the company's affairs during the financial year 2014. It was noted that board members representing their own and others' shares, as well as the CEOs, did not participate in the decision.
Decision on the guidelines for remuneration to senior executives
It was decided, in accordance with the Board’s proposal, that the guidelines adopted at the annual general meeting 2014 regarding salaries and other compensation for the CEO and other senior executive’s should continue to apply. Any variable compensation that may be offered to senior executives based on achievement of predetermined targets can be granted with a maximum of 100 percent of the base salary.
Authorization of new share issue
It was decided unanimously to authorize the Board of Directors to, on one or more occasions prior to the next AGM, decide on the issuance of a maximum of 1,340,000 class B shares against cash payment and / or if decided - non-cash, and thereby have the possibility to derogate from existing shareholders’ preference rights. The price for new issued shares shall be based on the current market price of the shares. This authorization serves to, swiftly and efficiently, facilitate acquisitions where payments are made in cash or with shares.
Translation
This is a translation of the Swedish original.
Complete minutes from the AGM are available on the company’s website in Swedish.
http://cherry.se/en/shareholder-meetings-and-minutes/
Cherry AB
The Board of Directors
Stockholm, May 13, 2015
For further information, please contact:
Fredrik Burvall
CEO Cherry AB (PLC)
Telephone +46 8-514 969 52, +46 709 279 632, fredrik.burvall@cherry.se