Annual General Meeting — JM AB

The Annual General Meeting (AGM) of shareholders of JM AB met on March 30, 2023, 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 Annual General Meeting resolved to pay a dividend of SEK 14 per share. The record date for payment is Monday, April 3, 2023. Euroclear Sweden AB will send the dividend on Thursday, April 6, 2023. 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, re-elect Members Kerstin Gillsbro, Camilla Krogh, Jenny Larsson, Olav Line and Thomas Thuresson, and elect new Member Stefan Björkman.

Remuneration to the Chair for work on the Board will be raised to SEK 955,000, and remuneration to Members will be raised to SEK 380,000.

Fees for work on committees will be raised as follows:

Chair of the Audit Committee: SEK 165,000.  
Members of the Audit Committee: SEK 98,000. 
Chair of the Compensation Committee: SEK 68,000.
Members of the Compensation Committee: SEK 68,000.
Chair of the Investment Committee: SEK 105,000. 
Members of the Investment Committee: SEK 80,000.

The total proposed fee for the seven paid Members amounts to SEK 4,065,000, 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 the 2024 Annual General Meeting.

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

The AGM resolved to adopt the proposed guidelines for remuneration to senior executives.

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 the 2024 AGM. 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 this authorization is to give the Board of Directors greater freedom of action and the possibility to adjust the Company’s capital structure on a continuous basis.

Reduction of share capital and bonus issue
The AGM resolved to reduce the share capital for allocation to unrestricted capital by SEK 3,774,001 through the elimination of 3,774,001 own ordinary shares. To restore the share capital after the reduction in share capital, the AGM resolved to increase the share capital by 3,774,001 through a bonus issue without the issue of new shares, thereby transferring the reduction amount from unrestricted equity. Overall, neither the share capital nor restricted equity have been reduced.

For additional information, please contact:
Johan Skoglund, President and CEO, +46 (0)8 782 87 00
Maria Bäckman, Chief Legal Counsel, +46 (0)8 782 87 00

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 16 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.