Bulletin from Hoist Finance AB (publ)'s Annual General Meeting 16 May 2018

Hoist Finance’s Annual General Meeting (the “Meeting”) was held at 3:00 p.m. on Wednesday 16 May 2018, in Stockholm, Sweden.

Approval of the Income Statement and the Balance Sheet

The Annual General Meeting approved the income statement and the balance sheet for the parent company, as well as the consolidated income statement and the consolidated balance sheet for the financial year 2017.

Dividend

The Meeting resolved, in accordance with the proposal of the Board of Directors, on dividend to the shareholders of SEK 1.90 per share, in total SEK 154,250,637. The record date was determined as Friday 18 May 2018. The dividend is expected to be distributed by Euroclear Sweden AB on Wednesday 23 May 2018.

Board of Directors

The Meeting discharged the members of the Board of Directors and the CEO from liability for the financial year 2017.

Current members of the Board of Directors Ingrid Bonde, Cecilia Daun Wennborg, Malin Eriksson, Liselotte Hjorth, Jörgen Olsson, Joakim Rubin and Gunilla Öhman were re-elected. Marcial Portela was elected as new member of the Board of Directors. The Meeting re-elected Ingrid Bonde as Chairman of the Board of Directors. Jörgen Olsson was elected as Deputy Chairman of the Board of Directors The former member of the Board of Directors Costas Thoupos resigned at the Meeting. 

Auditor

The Meeting appointed, in accordance with the Nomination Committee’s proposal, KPMG AB, with the authorised public accountant Anders Bäckström as auditor in charge, as auditor until the end of the Annual General Meeting 2019.

Compensation to the Board of Directors

The remuneration to the Board of Directors was set as follows, in accordance with the Nomination Committee’s proposal, SEK 1,425,000 to the Chairman of the Board of Directors, SEK 800,000 to the Deputy Chairman of the Board of Directors, SEK 470,000 to each of the other members of the Board of Directors, SEK 175,000 to the Chairman of the Risk and Audit Committee, SEK 125,000 to each of the other members of the Risk and Audit Committee, SEK 50,000 to the Chairman of the Remuneration Committee, SEK 50,000 to each of the other members of the Remuneration Committee, SEK 150,000 to the Chairman of the Investment Committee and SEK 100,000 to each of the other members of the Investment Committee.

Compensation to the auditor

The Meeting approved, in accordance with the Nomination Committee’s proposal, that the auditor shall be entitled to a fee in accordance with approved invoices.

Guidelines for remuneration to the senior executives

The Meeting approved the Board of Director’s proposal regarding guidelines for remuneration to senior executives.

Authorisation for new issue of shares  

The Meeting resolved, in accordance with the Board of Director’s proposal, to authorise the Board of Directors, during the period until the next Annual General Meeting, in conjunction with enable raising of capital for financing of acquisitions of companies or businesses and larger portfolio investments, on one or several occasions, with or without deviation from shareholder’s preferential rights, against cash payment, through set-off or against consideration in kind, to make a decision on issuance of new ordinary shares. The number of shares in the company may, by virtue of this authorisation, not exceed an increase of ten (10) per cent of the number of shares in the date of the Meeting.

Authorisation to resolve on acquisition of own shares

The Meeting resolved, in accordance with the Board of Director’s proposal, to authorise the Board of Directors, during the period until the next Annual General Meeting, on one or several occasions, subject to applicable capital adequacy requirements at any given time, on acquisition of own shares according to the following terms and conditions:

• Acquisitions of own shares may be made of no more than so many shares that the company’s holding of treasury shares at any given time amounts to no more than ten (10) per cent of the total number of shares in the company.
• Acquisitions of own shares may only be made on Nasdaq Stockholm and in accordance with the Nasdaq Stockholm Rulebook for Issuers.
• Acquisitions of own shares may only be made at a price per share within the spread registered on the Nasdaq Stockholm from time to time, meaning the spread between the highest bid price and the lowest ask price.
• Payment for the shares shall be made in cash.

Statutory meeting

At a statutory meeting held in connection with the Meeting; (i) Ingrid Bonde, Cecilia Daun Wennborg, Liselotte Hjorth and Gunilla Öhman were elected as members of the Risk and Audit Committee with Cecilia Daun Wennborg as Chairman of the committee, (ii) Ingrid Bonde, Joakim Rubin and Gunilla Öhman were elected as members of the Remuneration Committee with Ingrid Bonde as Chairman of the committee, and (iii) Malin Eriksson, Liselotte Hjorth, Jörgen Olsson and Joakim Rubin were elected as members of the Investment Committee with Liselotte Hjorth as Chairman of the committee until the end of the summer, whereby Malin Eriksson will take over the role as Chairman of the committee after the summer.

For further information please contact:

Michel Fischier

Group Head of Investor Relations

Tel: 46 8 555 177 19

About Hoist Finance

Hoist Finance is a trusted debt restructuring partner to international banks and financial institutions. We are specialised in serving banks in handling non-performing loans, and supporting individuals in becoming debt free. Through expertise and rigorous compliance we earn the banks’ trust. Through respect, honesty and fairness we earn the trust of our customers. For further information, please visit hoistfinance.com.