Annual General Meeting at JM AB

The Annual General Meeting of shareholders of JM AB met on April 27, 2017 and adopted all of the proposals of the Board of Directors and the Nomination Committee.

The Annual General Meeting resolved to pay a dividend of SEK 9.50 per share. The record date for payment is Tuesday, May 2, 2017. Euroclear Sweden AB will send the dividend on Friday, May 5, 2017. 

Board Members and remuneration 
The Annual General Meeting resolved that the Board will have seven Members. The Annual General Meeting resolved to elect Fredrik Persson as Chairperson of the Board, to elect Olav Line as Board Member and to re-elect Board Members Kaj-Gustaf Bergh, Eva Nygren, Kia Orback Pettersson, Åsa Söderström Jerring and Thomas Thuresson. The Chairperson of the Board since 2005, Lars Lundquist, has declined re-election.  

Remuneration to the Chairperson for work on the Board will remain at SEK 780,000 and remuneration to Members who are not employed by the Company will remain at SEK 330,000. 

Committee fees 
It is proposed that Members who are not employed by the Company receive unchanged remuneration for work on committees as follows: 
Chairperson of the Audit Committee: SEK 120,000  
Members on the Audit Committee: SEK 90,000  
Chairperson of the Compensation Committee: SEK 60,000. 
Members on the Compensation Committee: SEK 60,000. 
Chairperson of the Investment Committee: SEK 80,000  
Members on the Investment Committee: SEK 60,000. 

The total fee for the seven paid Members amounts to SEK 3,380,000, including remuneration for committee work.  

Election of auditors 
The Annual General Meeting resolved to elect PricewaterhouseCoopers AB. In accordance with Swedish law, the term of service runs until the end of the 2018 Annual General Meeting.  

Nomination Committee 
The Annual General Meeting resolved to adopt the instructions for the Nomination Committee that were adopted at the 2016 Annual General Meeting. The instructions for the Nomination Committee are available on JM AB’s website, www.jm.se/en 

Guidelines for salaries and other remuneration 
The Annual General Meeting approved the proposed guidelines for salaries and other remuneration to senior executives. Compensation to the CEO and other senior executives will consist of a fixed component, short- and long-term variable components, pension benefits and other benefits. “Other senior executives” refers to Executive Management. Total compensation must be at market rates and competitive in the labor market in which the executive works. 

Convertible program 
The Annual General Meeting resolved that JM shall raise a debenture loan with a maximum nominal value of SEK 160,000,000 by issuing a maximum of 450,000 convertibles aimed at all employees in Sweden. The convertibles’ issue price shall correspond to the nominal amount. It shall be possible to convert each convertible to an ordinary share, at a conversion price equivalent to 125 percent of the latest noted average price paid for ordinary shares in JM on the official exchange list of Nasdaq Stockholm AB for the period extending from April 28, 2017 to May 12, 2017. 

The Annual General Meeting resolved that the terms for the convertible program will be in accordance with the proposal. 

Buy-back 
The Annual General Meeting 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 2018 Annual General Meeting. The number of 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 ordinary 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. 

Decrease of share capital 
The Annual General Meeting resolved to decrease the share capital by SEK 2,044,847 through the elimination of 2,044,847 ordinary shares without repayment to the shareholders. At present, the Company holds a total of 2,044,847 of its own ordinary shares. The ordinary shares were acquired for the purpose of adjusting the Company’s capital structure. 

The reduction in the share capital shall be allocated to unrestricted equity. 

The Annual General Meeting’s resolution to decrease the share capital in accordance with that set out above may not be effected without authorization from the Swedish Companies Registration Office or, in the event of a dispute, a general court of law. 

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

This information is information that JM AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 19:15 CET on 2017-04-27.

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 2,400 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.

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