The Board of Directors of Haldex AB (publ) withdraws proposal of confirmation of allotment under 2021 LTI
The Board of Directors of Haldex AB (publ) has decided to withdraw the previously communicated proposal to the Annual General Meeting 2022 of confirmation of allotment under the incentive program for the CEO which was approved by the Annual General Meeting 2021 (“2021 LTI”).
The 2021 LTI gave the CEO the right to, under certain conditions, acquire Haldex shares against a pre-defined strike price (the “Options”). For participation in the 2021 LTI the CEO was required to own a certain number of shares in Haldex (“Qualifying Shares”). Pursuant to the terms of the 2021 LTI, the CEO were to acquire the Qualifying Shares and Options were to be allotted no later than 31 July 2021. However, these conditions where not fulfilled in time. The CEO acquired 16,000 Qualifying Shares in the end of December 2021. Against this background, the Board of Directors proposed that the Annual General Meeting 2022 should resolve to approve an allotment of 48,000 Options pursuant to the terms of the 2021 LTI.
The Board of Directors has now decided to withdraw this proposal (item 15 in the proposed agenda included in the notice of Annual General Meeting 2022). The reasons behind the decision to withdraw the proposal is that the Board of Directors considers that, taking into account the current uncertain external factors and their impact on Haldex, the incentive program will not achieve its intended purpose. The Board of Directors will consider a revised incentive program for the CEO, which may be proposed for approval either by the Annual General Meeting 2023 or by an Extraordinary General Meeting held prior to that date.
The Company’s Annual General Meeting will be held on 24 May 2022.
For further information, please contact:
Håkan Karlsson, Chairman of the Board
Linda Carlsson, Head of Legal
Jenny Boström, Investor Relations Manager
Phone: +46 418 47 60 00
E-mail: ir@haldex.com
About Haldex
Over 100 years of powerful innovation gives Haldex unsurpassed expertise when it comes to braking systems and air suspension systems for heavy trucks, trailers, and buses. We live and breathe our business with the goal to deliver robust and technically superior solutions which is founded in a deep insight in our customer’s reality. Through focusing on our core competences and the passion we all share, we achieve the agility and flexibility that the market demands. Innovative collaborations aren’t only the core of our products, but our philosophy. Our 2 000 employees, spread out across four continents, challenge the conventional on a daily basis in order to secure that the products we deliver create a unique value to our customers and the end users. We are listed on Nasdaq Stockholm and have a turnover of approx. 4.6 billion SEK.
This document is essentially a translation of Swedish language original thereof. In the event of any discrepancies between this translation and the original Swedish document the latter shall be deemed correct.