Communication from the Annual General Meeting f ITAB Shop Concept AB (Publ)
The Annual General Meeting has been held with the shareholders of ITAB Shop Concept AB (publ) on May 9, 2017.
DIVIDEND
The AGM resolved to issue a dividend of SEK 1.75 to the shareholders and determine the record date until May 11, 2017. The dividend is expected to be sent by Euroclear Sweden AB on May 16, 2017.
BOARD
Board members were re-elected Fredrik Rapp, Anna Benjamin, Petter Fägersten, Sune Lantz, Anders Moberg and Lottie Svedenstedt, as well as the new election of Per Borgklint. The Chairman of the Board was appointed Fredrik Rapp.
AUDITORS
Registered auditing firm Ernst & Young was elected auditors for a term of one year. It was noted that the audit company stated that Authorized Public Accountant Stefan Engdahl will be appointed Chief Accountant.
ELECTION COMMITTEE
The AGM resolved to appoint Anders Rudgård (chairman), Fredrik Rapp and Johan Storm, the Nomination Committee for the Annual General Meeting 2018.
DIRECTORS 'FEES
The AGM resolved to pay a total of SEK 1,200,000 to the Board, distributed by SEK 300,000 to the Chairman of the Board and SEK 150,000 each to the other members of the Board.
AUTHORIZATION ON NEW MISSION
The AGM resolved to authorize the Board of Directors to decide, in conjunction with acquisitions, to issue new shares and / or convertibles of Series B to a maximum of one tenth of the Company's issued Series B shares. The Board of Directors may, on one or more occasions, make such decisions until the Annual General Meeting 2018.
ACQUISITION AND TRANSFER OF OWN SHARES
The AGM resolved to authorize the Board to decide on the acquisition and transfer of own shares. The authorization aims at giving the Board more scope for action in its work with the company's capital structure and, if deemed appropriate, to enable incentive programs for the Group's employees or acquisition of operations through payment with the company's shares. The Board of Directors may, on one or more occasions, make such decisions to be implemented before the 2018 Annual General Meeting.
GUIDELINES FOR RESTRICTIONS FOR MANAGEMENT EXECUTIVES
The AGM resolved to approve the Board's proposal regarding guidelines for remuneration and other terms of employment for senior executives. The Board's proposal implies that remuneration and other terms of employment for senior executives shall be marketable. In addition to fixed basic salary, senior executives can receive variable remuneration, which should be limited and based on earnings performance compared with established goals. The variable may not exceed a maximum of six months' salary. Senior executives shall have market-based pension terms that shall be premium-based. All senior executives in Group Management can terminate their employment with six months' notice. In case of termination of the CEO, a severance pay corresponding to 18 months salary will be paid. Severance pay is deducted from other income. In case of termination by the CEO, no severance pay is payable. The Board shall have the right to waive the guidelines if there are special reasons for this in an individual case.
ECONOMIC INFORMATION
ITAB Shop Concept AB (publ) intends to provide the following information for the 2017 fiscal year.
Interim Report January-June: July 12, 2017
Interim Report January-September: November 1, 2017
Year-end report: February 6, 2018
Annual Report: March / April 2018
Annual General Meeting: May 2018
Jönköping on May 9, 2017
Board of Directors
The information is as published by ITAB Shop Concept AB (publ) pursuant to the Securities Market Act. This information was submitted for publication on May 9, 2017 at. 19.30.
For further information, please contact:
ITAB Shop Concept AB
CEO Ulf Rostedt
Phone: 46 36 31 73 00
Mobile: 46 70 694 86 82
Box 9054, SE-550 09 JÖNKÖPING, SWEDEN
Telefon: 46 [0]36 31 73 00
www.itab.se
ITAB Shop Concept AB sells, develops, manufactures and installs complete shop fitting concepts for retail chain stores. The all-inclusive offer includes custom-made fitting concepts, checkouts, self-checkout systems and professional lighting systems. Customers include the major players throughout most parts of Europe. ITAB is the market leader at checkout to retailers in Europe, and one of Europe's largest suppliers of shop fitting concepts and lighting systems. The group has approximately 3,600 employees and had 2016 a turnover of SEK 5,417 million. ITAB B-share is listed on the Nasdaq Stockholm.