Announcement from the Annual General Meeting of East Capital Explorer AB (publ) on 15 May 2017
The Meeting adopted the income statements and balance sheets included in the Board of Directors’ Annual Report for the parent company and the East Capital Explorer Group for the fiscal year 2016.
The Meeting resolved to allocate this year’s result in accordance with the Board of Directors’ proposal, meaning a dividend to the shareholders corresponding to SEK 0.90 per share and that the remaining profits are carried forward. The record day for the right to receive dividend is Wednesday 17 May 2017. The dividend is expected to be paid out via Euroclear Sweden AB on Monday 22 May 2017.
The Meeting granted the members of the Board of Directors and the CEO discharge from liability for the period covered by the Audit Report.
The Meeting resolved that the number of Directors to serve until the close of the next Annual General Meeting shall be five (5).
The Meeting resolved that remuneration to the Chairman of the Board is set to unchanged SEK 1 200 000 and that remuneration to other Directors of the Board is set to unchanged SEK 400 000 for each Director. The Meeting resolved, in accordance with the proposal of the Nomination Committee, that the remuneration to a Director may, subject to a specific agreement with the company, be invoiced through a company or entity. In order for the company to enjoy cost neutrality, the invoiced remuneration shall be adjusted for social security charges and value added tax. Furthermore, it was resolved that fees to the auditor be paid according to approved invoices under a given offer.
Göran Bronner, Peter Elam Håkansson, Lars O Grönstedt, Liselotte Hjorth and Nadya Wells were re-elected as Directors of the Board. Lars O Grönstedt was re-elected as Chairman of the Board.
The Meeting approved the proposal regarding criteria for appointment of the Nomination Committee.
The Meeting approved the Board of Directors’ proposal regarding guidelines for remuneration to senior management.
The Meeting approved the Board of Directors’ proposal to reduce the share capital by way of retirement of own shares and to increase the share capital by way of a bonus issue. Further, the Meeting resolved upon an additional reduction of the share capital by way of cancellation of such own shares that are held by the Company at the date of the notification of the resolution to the Swedish Companies Registration Office.
The Meeting authorized the Board of Directors to decide on repurchase of own shares in accordance with the proposed resolution.
The Meeting approved the Board of Directors’ proposal to change the company name in the Articles of Association.
Contact information:
Lars O Grönstedt, Chairman of the Board, East Capital Explorer +46 8 505 97 700
Mia Jurke, CEO, East Capital Explorer, +46 8 505 885 32
About East Capital Explorer
East Capital Explorer AB (publ) is a Swedish investment company with a net asset value of EUR 248 million, offering unique investment opportunities in Eastern Europe, where the Baltic countries represent the company’s largest investment region. The company primarily invests in unlisted assets within the private equity and real estate segments. East Capital Explorer’s main investment theme is domestic growth and the company targets fast growing sectors such as real estate, consumer goods and financials. East Capital Explorer is listed on Nasdaq Stockholm, Mid Cap.
Listing: Nasdaq Stockholm, Mid Cap - Ticker: ECEX - ISIN: SE0002158568 -
Reuters: ECEX.ST - Bloomberg: ECEX SS Equity
The information was submitted for publication under the auspices of the above stated contact persons on 16 May 2017 at 08:00 am. CET.