Decisions at Eastnine’s Annual General Meeting 2021
At Eastnine's Annual General Meeting (AGM) 2021, decisions were made on, among other things, dividend, Board of Directors and a long-term incentive program in accordance with the proposals presented.
Resolution of the Meeting (in summary):
The Board members and the CEO were discharged from liability for the financial year 2020.
Liselotte Hjorth, Peter Elam Håkansson, Christian Hermelin, Ylva Sarby Westman and Peter Wågström were re-elected as Board members. Liselotte Hjorth was re-elected Chairman of the Board. Fees to the Chairman of the Board were set at SEK 800,000 and to other members of the Board SEK 400,000 per Board member. No additional remuneration shall be paid for committee work.
The registered accounting firm KPMG, with the authorized public accountant Peter Dahllöf as auditor in charge, was re-elected as auditor until the end of the AGM 2022. Fees shall be paid to the auditor according to approved invoice.
The AGM resolved that dividend to the shareholders shall be paid in an amount corresponding to SEK 3.00 per share. The dividend is distributed on four payout occasions of SEK 0.75 per share each. Dividend record dates are 7 May 2021, 17 August 2021, 16 November 2021 and 1 February 2022 respectively. Dividends are expected to be paid through Euroclear Sweden on 12 May 2021, 20 August 2021, 19 November 2021 and 4 February 2022 respectively.
The Board of Directors was authorized to decide on transfer and acquisition of treasury shares, on one or several occasions, until the next AGM. Transfer may be made on Nasdaq Stockholm or otherwise. Acquisition of own shares may amount to a maximum of so many shares that the company's holding of own shares at any time does not exceed 10 per cent of all shares in the company.
Furthermore, the Board was, until the next AGM, authorized to decide on a new issue of shares corresponding to a maximum of 10 per cent of the company's share capital, with or without deviation from the shareholders' preferential rights.
The AGM resolved to approve the Board's report on remuneration.
The AGM resolved to introduce a long-term incentive program (LTIP 2021) aimed at employees in the Group in accordance with the Board's proposal. According to LTIP 2021, the employees can receive a maximum of 51,000 shares in the company, provided certain vesting conditions are met.
In order to ensure the delivery of shares in accordance with LTIP 2021, the AGM resolved that a maximum of 51,000 own shares be transferred to the participants in accordance with the proposed terms. The company will not issue any new shares as a result of LTIP 2021 but intends to use up to 60,000 own shares for delivery to participants and for hedging costs for LTIP 2021. The costs for LTIP 2021 are expected to have a marginal effect on the Group's key figures.
The AGM resolved to amend the Articles of Association in accordance with the Board's proposal.
Eastnine AB (publ)
For more information contact:
Kestutis Sasnauskas, CEO, +46 8 505 97 700
Britt-Marie Nyman, CFO and deputy CEO, +46 70 224 29 35
Eastnine AB (publ) is a Swedish real estate company with a property value of EUR 374m and a long-term net asset value of EUR 329m as of 31 March 2021. Eastnine’s vision is to create and provide prime venues where ideas can flow, people can meet, and successful business can be developed. The mission is that Eastnine shall be the leading long-term provider of modern and sustainable office premises in prime locations in the Baltic capitals. Eastnine is listed on Nasdaq Stockholm Mid Cap, sector Real Estate.