Annual General Meeting of Kungsleden AB (publ)
Press Release
23 April 2009
Listed Swedish property company Kungsleden AB (publ) held its AGM (Annual General Meeting) on Wednesday. The Meeting approved the Board of Directors’ proposed dividend of SEK 1.50 per share. The record date was set at 27 April and dividends are scheduled for disbursement from Euroclear Sweden AB (formerly VPC AB) on 30 April.
In his address to the AGM, Chief Executive Thomas Erséus reviewed the financial year 2008 and current market conditions. The address was recorded on video, and will be available from Kungsleden’s website, www.kungsleden.se, from 23 April onwards.
Chairman of the Board Bengt Kjell opened the Meeting by reporting that the Board of Directors had decided to withdraw its proposals, partly on a granting decision regarding the performance-related staff stock option plan for 2008 (item 17) and the performance-related staff stock option plan for 2009 (the final year of the planned three years, item 18).
The background to this withdrawal includes the Swedish Government’s decision on new “guidelines for employment terms for senior executives of companies with government ownership”. The new guidelines affect the shareholders that Boards previously secured support from for their proposals. The Board of Directors wanted to avoid the AGM being forced into making resolutions subject to uncertainty regarding shareholders’ attitudes. The Board of Directors retains its view that performance-related and share-based plans are good for the company, and accordingly, it intends to return to this issue when shareholders’ attitudes are clear.
The AGM discharged the Board members and Chief Executive from liability for the financial year 2008. Thomas Erséus, Bengt Kjell, Magnus Meyer, Jan Nygren, Jonas Nyrén and Per-Anders Ovin were re-elected as Board members. Charlotta Wikström and Leif Garph were elected as Board members after Anna Weiner Jiffer and Jens Engwall declined re-election. Bengt Kjell was re-elected as Chairman of the Board.
The Meeting appointed Carl Rosén (Second AP Fund), KG Lindvall (Swedbank Robur Fonder) and Olle Florén (Olle Florén and companies) as members of the Nomination Committee. Bengt Kjell is a member of the Nomination Committee in his capacity as Chairman of the Board.
The Meeting adopted the Nomination Committee’s proposal for new instructions for the Nomination Committee’s activities.
The Meeting also adopted the Board of Directors’ proposal on guidelines for remuneration and other employment terms for senior executives.
At the Board meeting following election, Bengt Kjell, Jan Nygren and Charlotta Wikström were appointed members of the Remuneration Committee and Jonas Nyrén (Chairman), Per-Anders Ovin and Leif Garph were appointed as members of the Audit Committee.
Kungsleden discloses the information in this press release according to the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. The information was provided for public release on 23 April 2009 at 08.30 a.m.