Annual General Meeting — JM AB

The Annual General Meeting (AGM) of shareholders of JM AB met on March 24, 2021, and adopted all of the proposals of the Board of Directors and the Nomination Committee.

The AGM approved the Income Statement, the Balance Sheet, the Consolidated Income Statement and the Consolidated Balance Sheet. The AGM resolved to pay a dividend of SEK 12.75 per share. The record date for payment is Friday, March 26, 2021. Euroclear Sweden AB will send the dividend on Wednesday, March 31, 2021. The AGM resolved to discharge the Board members and the CEO from liability.

Board members and fees
The AGM resolved that the Board will have seven Members. The AGM resolved to re-elect Fredrik Persson as Chair of the Board of Directors and Members Kaj-Gustaf Bergh, Kerstin Gillsbro, Camilla Krogh, Olav Line, Thomas Thuresson and Annica Ånäs. Eva Nygren declined re-election.

Remuneration to the Chair for work on the Board shall be raised to SEK 900,000, and remuneration to Members shall be raised to SEK 360,000.

Committee fees
Remuneration to the Chair of the Audit Committee will be raised, and the remuneration for other work on the committees will remain the same in accordance with the following:

Chair of the Audit Committee: SEK 160,000. 
Members of the Audit Committee: SEK 95,000. 
Chair of the Compensation Committee: SEK 65,000.
Members of the Compensation Committee: SEK 65,000.
Chair of the Investment Committee: SEK 100,000. 
Members of the Investment Committee: SEK 75,000.

The total proposed fee for the seven paid Members amounts to SEK 3,855,000, including remuneration for committee work.

Election of auditors
The AGM resolved to re-elect PricewaterhouseCoopers AB as auditing company. In accordance with Swedish law, the term of service runs until the end of AGM 2022.

Remuneration report
The AGM resolved to approve the remuneration report presented by the Board. 

Buy-back
The AGM resolved to authorize the Board to decide on the acquisition of ordinary shares in JM AB on a regulated market.

The acquisition of ordinary shares in JM AB may only occur on Nasdaq Stockholm. The authorization may be utilized on one or more occasions, although no longer than up until AGM 2022. The number of ordinary shares that may be acquired is limited such that the Company’s holdings do not at any point in time exceed ten (10) percent of all the Company’s shares. The acquisition of ordinary shares in JM AB on Nasdaq Stockholm may only occur at a price within the current spread on Nasdaq Stockholm, which refers to the spread between the highest bid price and the lowest ask price. The objective of empowering the Board of Directors is to give it greater freedom of action and the possibility to adjust the Company’s capital structure on a continuous basis.

Amendment to the Articles of Association
The AGM resolved to introduce into the Articles of Association the possibility for the Board to in part decide on collecting powers of attorney for the general meeting and that shareholders shall be able to exercise their voting right by absentee ballot prior to the general meeting. Sections 11, 12 and 13 of the Articles of Association thus will have the following wording.

Section 11 Collection of power of attorney and absentee ballot
The Board of Directors may collect powers of attorney in accordance with the procedure set out in Chapter 7, section 4, second paragraph of the Companies Act (2005:551).

The Board of Directors, prior to the general meeting, may decide that shareholders shall be able to exercise their voting right by absentee ballot prior to the general meeting.

Section 12 Record day provision
The Company’s shares shall be registered with a record day register in accordance with the Central Securities Depositories and the Financial Instruments Accounts Act (1998:1479).

Section 13 Financial year
The Company's financial year shall correspond to the calendar year.

For additional information, please contact:
Johan Skoglund, President and CEO, +46 (0)8 782 87 00
Claes Magnus Åkesson, CFO, +46 (0)8 782 89 71
Maria Bäckman, Chief Legal Counsel, +46 (0)8 782 85 31

JM is one of the leading developers of housing and residential areas in the Nordic region. Operations focus on new production of homes in attractive locations, with emphasis on expanding metropolitan areas and university towns in Sweden, Norway and Finland. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM should promote long-term sustainability work in all of its operations. Annual sales total approximately SEK 15 billion and the company has about 2,500 employees. JM is a public limited company listed on NASDAQ Stockholm, in the Large Cap segment. More information is available at www.jm.se/en.