Bulletin from the annual general meeting of Instalco Intressenter
At the annual general meeting in Instalco Intressenter today 8 May 2018, the shareholders resolved upon the following:
Adoption of income statement and balance sheet as well as consolidated income statement and consolidated balance sheet
The annual general meeting adopted the income statement and consolidated income statement as well as the balance sheet and the consolidated balance sheet for the financial year 2017.
Resolution on dividend
The annual general meeting resolved on a dividend of SEK 1.10 per share and that 11 May 2018 shall be the record date for the dividend. Payment of the dividend is expected to be made on 16 May 2018 through Euroclear Sweden AB.
Resolution on discharge from liability, re-election of board members and board fees
The annual general meeting resolved on discharge from liability for the members of the board of directors and the CEO for the financial year 2017.
The annual general meeting resolved that the board of directors shall consist of six board members. Olof Ehrlén and Johnny Alvarsson were re-elected as board members and Olof Ehrlén was re-elected as chairman of the board for the period until the close of the annual general meeting 2019. Carina Qvarngård, Carina Edblad, Per Leopoldsson and Camilla Öberg were elected as new board members for the period until the close of the annual general meeting 2019.
The annual general meeting resolved that remuneration to the board of directors for the coming term of office shall be paid by a total of SEK 2,000,000, of which SEK 500,000 is to be paid to the chairman and SEK 250,000 is to be paid to the other board members, corresponding to an increased remuneration for the chairman of SEK 138,000 and an increased remuneration for the other board members with SEK 110,000. Furthermore, it was resolved that remuneration for the coming term of office shall be paid by SEK 150,000 to the chairman and SEK 50,000 to each of the other members of the board's audit committee. No special remuneration is to be paid to the remuneration committee.
Election of auditor and determination of fees to the auditor
The annual general meeting re-elected the auditing firm Grant Thornton Sweden AB as auditor and resolved that the auditor shall be paid in accordance with approved invoices.
Resolution on guidelines for remuneration to the senior management
The annual general meeting approved the proposal of the board of directors regarding guidelines for remuneration to the senior management, which were corresponding to the guidelines adopted at the extraordinary general meeting held on 10 April 2017.
Resolution on principles for the appointment of and instructions for a nomination committee
The annual general meeting resolved to appoint a nomination committee for the annual general meeting 2019 in accordance with the procedure adopted at the extraordinary general meeting held on 10 April 2017. The resolution means, in essence, that the nomination committee shall consist of the chairman of the board of directors and three members appointed by the three, in number of votes, largest shareholders at the end of the third quarter each year. If any of the shareholders choose to waive their right to appoint a member of the nomination committee, the right will then pass to the next largest shareholder, and so on.
Resolution on issuance of warrants and formation of a subsidiary
The annual general meeting did not approve the resolution on issuance of warrants and formation of a subsidiary.
Resolution on authorisation for the board of directors to issue new shares and convertible bonds
The annual general meeting resolved to authorise the board to, at one or more occasions, until the time of the next annual general meeting, with or without deviation from the shareholders' preferential rights, against payment in cash, payment in kind or payment through set-off, resolve on the issuance of new shares and/or convertible bonds entailing issuance of or conversion to a number of shares corresponding to a maximum dilution of 20 percent of the share capital and votes in the company.
The purpose with the authorisation is to increase the company's financial flexibility as well as to enable payment with own shares and/or convertible bonds, partly in connection with any acquisitions of companies or businesses that the company may carry out and partly to settle any earn-outs in connection with such acquisitions.
For more information
Adrian Westman, Head of Investor Relations
phone +46 73 509 04 00, e-mail adrian.westman@instalco.se
Instalco is one of the leading installation companies in the Nordic region, active in the areas of heating, plumbing, electricity, cooling and industrial solutions. We work closely with customers, offering all the advantages of a local company, along with efficient collaboration and leadership. The operations are conducted through approximately 45 leading and highly specialised local companies, with the support of a small central organisation. Instalco is listed at Nasdaq Stockholm under the ticker INSTAL. For further information, visit www.instalco.se.