REPORT FROM ANNUAL GENERAL MEETING
At today’s Annual General Meeting of Höganäs AB, a dividend of SEK 10.00 per share with 6 May 2011 as record date was resolved in accordance with the proposal from the Board of Directors.
The present Directors Anders G Carlberg, Alrik Danielson, Peter Gossas, Urban Jansson, Bengt Kjell, Jenny Lindén Urnes and Erik Urnes were re-elected and Björn Rosengren was elected as new Director of the Board. Anders G Carlberg was re-elected as Chairman of the Board of Höganäs AB.
Björn Rosengren is a board member of HTC AB and Danfoss A/S and Senior Executive Vice President of Atlas Copco and Business Area President for Construction and Mining Technique within Atlas Copco, and will in September 2011 take up the position as Chief Executive Officer in Wärtsilä Corporation.
In accordance with the proposal from the Election Committee, the Meeting resolved on Directors’ fees of SEK 2,350,000, with the Chairman of the Board receiving
SEK 500,000 and other members elected by the Meeting but not employed by the group each receiving SEK 250,000, and the remaining SEK 350,000 payable as remuneration for committee work with SEK 50,000 each to three external Board members in the company’s Remuneration Committee and with SEK 100,000 to the chairman of the company’s Audit Committee and with SEK 50,000 each to two external Board members of the Audit Committee.
The Meeting re-elected the accounting firm KPMG AB, with authorised public accountant Helene Willberg as auditor in charge, for the period until the end of the Annual General Meeting 2012. It was also resolved that the auditors shall be remunerated on current account.
The Meeting approved the proposal from the Election Committee that the company shall have an Election Committee comprising of one representative of each of the four largest shareholders in terms of number of votes and the Chairman of the Board, being convener.
The principles for remuneration and other employment terms for senior executives were approved according to the proposal from the Board. The principles are based on the principles previously applied for remuneration to senior executives.
In accordance with the proposal from the Board, the Meeting resolved to authorize the Board to resolve on transfer of class B treasury shares to hedge against potential cash flow effects of social security costs and cash redemption under the employee stock option plans adopted by the Annual General Meetings in 2007 and 2009.
At the subsequent statutory meeting of the Board it was resolved to appoint a Remuneration Committee with Anders G Carlberg, Bengt Kjell and Jenny Lindén Urnes as members and an Audit Committee with Anders G Carlberg, Bengt Kjell and Erik Urnes as members.
Höganäs, 2 May 2011
THE BOARD OF DIRECTORS
This is information that Höganäs AB (publ) may be obligated to make public according to the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 17.00 pm on 2 May 2011
Höganäs AB is the world’s leading producer of iron and non-ferrous metal powders. The company has developed deep application competence based on a strong vision of powder’s possibilities to enhance efficiency and reduce resource consumption and environmental impact in a number of areas.
In cooperation with its customers, Höganäs can thus contribute in a wide range of applications such as the creation of future automotive components and white goods, and in water treatment and emission control. The company, which was established in 1797, reported net sales of MSEK 6,671 for 2010 and is listed on Nasdaq OMX Stockholm’s Mid Cap segment. For more information, visit our website www.hoganas.com.