Svenska Handelsbanken's Annual General Meeting
At the Annual General Meeting on 27 April 1999, the Board of Handelsbanken was re-elected with the exception of Vice Chairman, Jan Ekman, who will be 70 years old in 1999 and has declined re-election.
In accordance with the election committee's proposal, the Meeting did not elect any deputy members to the Board.
Öhrlings Coopers & Lybrand AB and Ernst & Young AB, registered public accounting firm, were re-elected auditors.
The Annual General Meeting adopted the Board's recommendation for a cash dividend of SEK 8.00 per ordinary share. The dividend on the index shares and the preference shares is in accordance with the Articles of Association and will be SEK 0.80 per index share and SEK 0.45 per class A preference share and SEK 0.60 per class B preference share. The record day for payment will be Friday 30 April 1999. It is expected that the dividend will be paid out by the Swedish Central Securities Depository & Clearing Organization (VPC) on Friday 7 May 1999.
The Annual General Meeting adopted changes to the Articles of Association in accordance with the Board's proposal.
A list of Members of the Board and the auditors is given below.
Redemption and bonus issue/split
The Annual General Meeting adopted the Board's proposal for a reduction of the share capital through redemption of all index and preference shares. The redemption price per index share, in accordance with the Articles of Association, has been determined at SEK 25.25 per index share and SEK 10 per preference share. In addition, interest of SEK 0.28 per class A preference share and SEK 0.37 per class B preference share will be paid.
The Annual General Meeting also adopted the Board's proposal to - after reduction of the share capital by redemption of the index and preference shares - through a bonus issue to increase the nominal value of each ordinary share from SEK 10 to SEK 12 per share, and to carry out a 3:1 split. After the split, the number of ordinary shares will be three times as many and at the same time the share's nominal value will be reduced to SEK 4.
Schedule for redemption and bonus issue/split
Last day for trading index shares and preference shares
on the Stockholm Stock Exchange 3 June 1999
Last day for trading ordinary shares at the old nominal amount on the Stockholm Stock Exchange 8 June 1999
Payment of redemption amount of index shares and preference shares 12 August 1999
Board Members 1999
Tom Hedelius, Stockholm Chairman of the Board
Bo Rydin, Stockholm Vice Chairman
Arne Mårtensson, Danderyd President and Group Chief Executive
Lotty Bergström, Ekerö
Lennart Claesson, Nässjö
Göran Ennerfelt, Upplands Väsby
Per-Olof Eriksson, Sandviken
Roland Fahlin, Stockholm
Hans Larsson, Stockholm
Olle Persson, Östersund
Clas Reuterskiöld, Danderyd
Bengt Samuelsson, Danderyd
Sven Ågrup, Lidingö
Auditors 1999
Elected by the Annual General Meeting
Registered public accounting firms
Öhrlings Coopers & Lybrand AB
Ernst & Young AB
Appointed by the Swedish Financial Inspection Authority
Ulf Davéus, Åkersberga