Decisions at Eastnine’s Annual General Meeting 2022
At Eastnine's Annual General Meeting (AGM) 2022, 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 2021.
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 auditing firm KPMG, with the authorized auditor Peter Dahllöf as auditor in charge, was re-elected as auditor. Fees shall be paid to the auditor based on approved invoices.
Dividends 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 28 April 2022, 16 August 2022, 15 November 2022 and 24 January 2023 respectively. Dividends are expected to be paid through Euroclear Sweden on 3 May 2022, 19 August 2022, 18 November 2022 and 27 January 2023 respectively.
The Board of Directors was authorized to, on one or several occasions until the next AGM, resolve on transfer and acquisition of own shares. Transfer of own shares may be made on Nasdaq Stockholm or otherwise. Acquisition of own shares may be made on Nasdaq Stockholm or in accordance with an offer to all shareholders and may amount to a maximum of so many shares that the company's holding of own shares at any time does not exceed 10 percent of all shares in the company.
The Board of Directors was authorized to, on one or several occasions until the next AGM, with or without deviation from the shareholders’ preferential rights, resolve on new issues of shares corresponding to not more than 10 per cent of the company’s share capital.
The Meeting resolved to introduce a long-term incentive program (LTIP 2022) aimed at employees in the group in accordance with the Board's proposal. The purpose of LTIP 2022 is to promote shareholder value and the company's long-term value creation by creating the conditions for retaining and recruiting competent personnel, increasing the motivation among the participants, promoting their own shareholding and increasing the interest community between the participants and the company's shareholders.
According to LTIP 2022, the employees can receive a maximum of 58,000 shares in the company, provided certain vesting conditions are met. In order to ensure the delivery of shares in accordance with LTIP 2022, the Meeting resolved that a maximum of 58,000 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 2022 but intends to use up to 67,094 own shares for delivery to participants and for hedging costs for LTIP 2022. The costs for LTIP 2022 are expected to have a marginal effect on the Group's key ratios.
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 is a Swedish real estate company with a property value of EUR 470m and a long-term net asset value of EUR 392m as of 31 December 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 and logistics premises in prime locations in the Baltic capitals. Eastnine is listed on Nasdaq Stockholm Mid Cap, sector Real Estate.