Resolutions at the annual general meeting in Instalco AB (publ)
At the annual general meeting in Instalco today on 5 May 2023, it was resolved on, among other things, a dividend of SEK 0.66 per share, re-election of all members of the board of directors and election of Ulf Wretskog as a new member of the board of directors, re-election of the auditor, authorisations for the board of directors to resolve on issues, acquisitions and transfers of own shares and the establishment of an incentive program based on warrants.
Adoption of income statements and balance sheets
The annual general meeting adopted the income statement and the balance sheet as well as the consolidated income statement and the consolidated balance sheet for the financial year 2022.
Dividend
The annual general meeting resolved on a dividend of SEK 0.66 per share and that Tuesday 9 May 2023 shall be the record date for the dividend. Payment of the dividend will be made on Friday 12 May 2023.
Resolution on discharge from liability, election of the board of directors and determination of fees for the board of directors
The annual general meeting resolved to grant discharge from liability for the board members and the CEO for the financial year 2022.
Per Sjöstrand, Johnny Alvarsson, Carina Qvarngård, Carina Edblad, Per Leopoldsson and Camilla Öberg were re-elected as board members and Ulf Wretskog was elected as a new board member for the period until the close of the next annual general meeting. Per Sjöstrand was also re-elected as chairman of the board for the period until the close of the next annual general meeting.
The annual general meeting resolved that the fees to the board members shall amount to SEK 640,000 to the chairman of the board and SEK 320,000 each to the other board members who are not employees of the company, SEK 150,000 to the chairman of the audit committee and SEK 75,000 to other members of the audit committee.
Election of auditor and determination of fees to the auditors
The annual general meeting re-elected the accounting firm Grant Thornton Sweden AB as auditor of the company for the period until the close of the next annual general meeting. The fees to the auditor shall be paid in accordance with approved invoice.
Resolution on authorisation for the board of directors to resolve on issues of shares, convertibles and warrants as well as acquisitions and transfers of own shares
The annual general meeting resolved to authorise the board to resolve on issues of shares, convertibles and warrants as well as acquisitions and transfers of own shares. The number of shares, convertibles and warrants that are issued under the authorisation shall not exceed ten per cent of the total amount of shares in the company at the time of the annual general meeting’s resolution. Acquisitions may be made of so many shares that the company’s holding of own shares, following each acquisition, amounts to a maximum of five per cent of all shares in the company. Transfers may be made of the number of shares held by the company from time to time. Issues, acquisitions and transfers may be made with deviation from the shareholders’ preferential rights in accordance with the terms and conditions of each authorisation, respectively.
Resolution on implementation of a long-term incentive program consisting of warrants
The annual general meeting resolved to establish a long-term incentive program under which the company offers members of the extended senior management and key employees within the Instalco group as well as CEOs and key employees in subsidiaries to acquire warrants in the company. The resolution entails that a maximum of 2,350,000 warrants are issued to the company and subsequently transferred to the participants in the incentive program. Each warrant entitles the holder to subscribe for one share in the company. The subscription of shares under the warrants may take place during the period from 22 May 2026 to 16 June 2026. The subscription price per share shall be 115 per cent of the volume weighted average price of the company’s share five trading days after the annual general meeting 2023.
Minutes and complete resolutions
The minutes from the annual general meeting will be available at the company and on the company’s website, www.instalco.se.
The information was submitted for publication on 5 May 2023 at 17.00 CET.
For further information
Fredrik Trahn, Head of IR and Communications
phone +46 70 913 67 96, e-mail fredrik.trahn@instalco.se
Instalco is one of the leading installation companies in the Nordic region, active in the areas of heating, plumbing, electricity, cooling, technical consulting and industrial solutions. We offer project planning, design, installation, service and maintenance of systems installed at properties and facilities throughout Sweden, Norway and Finland. The operations are conducted through approximately 130 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