KappAhl bulletin Annual General Meeting 2014

KappAhl AB (publ) held its Annual General Meeting on Wednesday 3 December 2014 in Mölndal. The following resolutions were passed at the Meeting:

• A cash dividend of SEK 0.75 per share. Record day for the dividend is Friday 5 December 2014.
• Determination of fees.
• Resolution on adoption of the accounts and discharge from liability
• Re-election of four Board members including Chairman of the Board and new election of Susanne Holmberg as member of the Board
• Instructions for the Nominations Committee
• Remuneration policy for company management

A summary is given below of the resolutions passed, which are all in line with the main resolution proposals made available to the shareholders before the Annual General Meeting.

Resolution on adoption of the accounts and discharge from liability

The income statement and balance sheet and consolidated income statement and balance sheet were adopted and the meeting discharged the Board of Directors and Chief Executive Officer from liability for the financial year.

Resolution regarding dividend

The Annual General Meeting resolved on that a cash dividend of SEK 0.75 per share is distributed for 2013/2014, corresponding to a total of SEK 56,280,000. The remaining profit is carried forward. Record day for the dividend is Friday 5 December 2014. Expected date of payment via Euroclear is Wednesday 10 December 2014.

Determination of fees to the Board of Directors and the Auditor

The meeting resolved that the fee to the Board of Directors and its committees shall be SEK 1,559,000. The resolution means that the Chairman of the Board is awarded SEK 380,000, that each other elected member of the Board is awarded SEK 190,000, that the chairman of the Audit Committee is awarded SEK 160,000 that one other member of the Audit Committee is awarded SEK 100,000, that the chairman of the Remuneration Committee is awarded SEK 35,000 and that one other member of the Remuneration Committee is awarded SEK 12,000. It was resolved that the fee to the accounting firm shall be unchanged in accordance with customary standards and approved invoice.

Re-election and election of the Board of Directors

Four ordinary members of the Board, including Chairman of the Board, were re-elected in accordance with the recommendation of the Nominations Committee. The Annual General Meeting elected Susanne Holmberg as new ordinary member of the Board. Consequently, the members of the Board of Directors elected by the Annual General Meeting are Amelia Adamo, Anders Bülow (Chairman), Christian W. Jansson, Pia Rudengren and Susanne Holmberg.

Election of accounting firm

Ernst & Young AB was re-elected as accounting firm and it was resolved that engagement will run until the next Annual General Meeting.

Instructions for the Nominations Committee

The Nominations Committee’s proposed instructions and rules of procedure for the Nominations Committee were adopted. The Nominations Committee shall consist of four ordinary members, who shall be appointed by the four largest shareholders as of April 30. The term largest shareholders refers to shareholders registered with Euroclear Sweden AB and grouped by ownership as of April 30.

Remuneration policy for company management

The meeting adopted the Board's proposed remuneration policy for the management team. The policy implies that a bonus of a maximum of 50 per cent of fixed salary can be payable. The remuneration policy is substantially the same as the one adopted by the previous Annual General Meeting.

All the resolutions of the Annual General Meeting were passed with the requisite majority.

The English text is an unofficial translation. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.

KappAhl AB (publ) discloses the information provided here pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on 3 December, 2014 at 12.25 pm.

För ytterligare information kontakta
Johan Åberg, President and CEO, phone +46 706 09 99 73, johan.aberg@kappahl.com
Anders Düring, Chief Financial Officer, phone +46 708 88 77 33, anders.during@kappahl.com

Company information and photos
Charlotte Högberg, Head Public Relations, phone +46 704 71 56 31, charlotte.hogberg@kappahl.com

KappAhl was founded in 1953 and is a leading fashion chain in the Nordic region with nearly 400 stores in Sweden, Norway, Finland and Poland together with Shop Online. KappAhl offers good-value fashion of its own design to a wide range of consumers – women, men and children – with a particular focus on women in the mid-life age range. 19% of the range is sustainability labelled. In 2013/2014, the turnover was SEK 4.7 billion and the number of employees approx. 4,000. KappAhl is quoted on NASDAQ Stockholm. For more information, please visit www.kappahl.com.

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