Notice of annual general meeting in K-Fast Holding AB
The Annual General Meeting (“AGM”) of the shareholders in K-Fast Holding AB (publ) was held on Thursday 12 May 2022. The AGM approved the following main resolutions in accordance with the proposals presented.
Adoption of the Income Statement and Balance Sheet
The AGM adopted the Income Statement and Balance Sheet of the Parent Company and Consolidated Income Statement, Consolidated Balance Sheet for the Group for the period 1 January 2021 – 31 December 2021.
Allocation of profit or loss
The AGM approved the Board’s proposal to carry forward retained profit of SEK 1,575,863,103 at the disposal of the AGM.
The Board
The AGM discharged the Board members and CEO from liability for the previous financial year. The AGM resolved that the Board of Directors should comprise six members without deputies. The following members were re-elected to the Board: Ulf Johansson, Christian Karlsson, Sara Mindus, Jesper Mårtensson, Erik Selin and Jacob Karlsson. The AGM appointed Erik Selin as Chairman.
Directors’ fees
The AGM approved Directors’ fees in accordance with the Nomination Committee’s proposal of SEK 200,000 for the period up until the next AGM for each Board member not employed by the company, except for Erik Selin. The Nomination Committee proposes that no fee be payable to Erik Selin. The proposed fees also include remuneration for committee work.
Auditor and fees
Ernst & Young AB (“EY”) was re-elected as company Auditor for the period until the end of the next AGM. EY will appoint Stefan Svensson as Auditor in Charge. Fees to the company’s Auditors are payable in accordance with approved invoice.
Approval of Remuneration Report
The AGM approved the Board’s Remuneration Report for senior management members.
Resolution on authorizing the Board to resolve to issue new shares
The AGM authorized the Board to decide, on one or several occasions, in the period up until the 2023 AGM, with or without departing from shareholders’ pre-emptive rights, to issue new shares. Authorization includes the right to pay for newly issued shares in cash, through offset or in the form of non-cash consideration. Based on the authorization, the number of shares can be increased, within the framework of the authorization, to a maximum of 24,000,000 (twenty-four million) new Class B shares. The purpose of the authorization, and the reason for any departure from shareholders’ pre-emptive rights, is to enable timely and cost-efficient new share issues, with the aim of financing the acquisition of properties or businesses by the company, or to carry out other investments. New share issues under this authorization, departing from shareholders’ pre-emptive rights, shall be based on a market-based subscription price that reflects market conditions at the time of issue. The CEO, or the person appointed by the Board of Directors, shall have the right to make such minor adjustments to the decision as may prove necessary in connection with the registration thereof.
Resolution on authorizing the Board to repurchase treasury shares
The AGM authorized the Board, in the period until the 2023 AGM, to decide, on one or several occasions, to repurchase and transfer Class B shares held in treasury. Repurchase may only occur on a regulated market place where the company’s shares are listed and at a price per share within the registered share price interval as applicable from time to time, corresponding to the interval between highest bid price and lowest offer price. Within the framework of the authorization, the company is permitted to repurchase a maximum number of shares corresponding to one tenth of the total number of shares issued in the company. The purpose of the authorization is to create the right conditions for the Board to reach expedient decisions regarding the effective utilization of the company’s capital and liquidity. Authorization permits the Board, if it is considered appropriate, to utilize potential surplus liquidity to effect reversals to shareholders without necessitating more administratively complex procedures such as customary dividend and/or cancellation of shares. The authorizations also aim to give the company greater flexibility to make acquisitions of properties, companies or other investments.
_________________________
Hässleholm, Sweden, May 2022
K-Fast Holding AB
The Board
For more information, please contact:
Anders Antonsson, IR-Manager,
e-mail: anders.antonsson@k-fastigheter.se, telephone: +46 708 730 900
As a property company, K-Fastigheter’s objective is to add value for tenants by creating attractive homes with superior comfort. The Group’s operations encompass active property management, project development and proprietary construction operations. To enhance cost efficiency and cut construction times, K-Fastigheter has chosen to work with three concept buildings, developed in-house and constructed for proprietary management. K-Fastigheter provides some 3,100 homes in several locations in the Öresund region, in the province of Småland and in western Sweden, and is assessing new markets as production capacity increases. The Group’s property portfolio has a book value SEK 10.5 billion, with an annual rental value of about SEK 370 million. Since November 2019, the company’s Class B shares have been traded on Nasdaq Stockholm under the (ticker: KFAST B). Read more at k-fastigheter.com
Tags: