Report from the Annual General Meeting of Magnolia Bostad AB on 27 April 2021
Magnolia Bostad AB held its Annual General Meeting on Tuesday 27 April 2021. Due to Covid-19, the Meeting was conducted by advance postal vote, without physical attendance. The following main resolutions were adopted on the Meeting.
For more detailed information on the content of the resolutions, please refer to the full notice to attend the Meeting and the full proposals that are available on the company’s website www.magnoliabostad.se/en.
Adoption of balance sheets and profit and loss accounts
It was resolved at the Meeting to adopt the profit and loss account and balance sheet, as well as the consolidated profit and loss account and consolidated balance sheet for the financial year 2020.
Dividend
The Meeting resolved, in accordance with the Board’s proposal, that no dividend be paid.
Discharge from liability
The Meeting discharged the directors, and the current and former CEO from liability towards the company for the financial year 2020.
Directors and auditors
Fredrik Holmström, Fredrik Tibell, Andreas Rutili, Risto Silander, Jan Roxendal, Viveka Ekberg and Anna-Greta Sjöberg were re-elected as directors of the Board. Fredrik Holmström was re-elected as Chair of the Board.
The Meeting resolved to re-elect the registered accounting firm Ernst & Young AB as auditor.
The Meeting resolved that unchanged fees shall be paid to the directors (including compensation for committee work) for the period until the end of the next annual general meeting, meaning that fees shall be paid with a total of SEK 2,530,000, comprising of SEK 500,000 for the Chair of the Board, and SEK 300,000 to other directors elected by the general meeting. Furthermore, it was resolved that fees will be paid with SEK 90,000 to the Chair of the Audit Committee, and with SEK 70,000 to each of the other members of the Audit Committee.
It was resolved that fees to the auditors are to be paid in accordance with approved invoices.
Approval of the remuneration report
The Meeting resolved to approve the Board's remuneration report on remuneration in accordance with Chapter 8, Section 53 a of the Swedish Companies Act.
Guidelines for salary and other remuneration
It was resolved to adopt guidelines for remuneration payable to senior executives, in accordance with the Board’s proposal.
Alteration of the articles of association
The Meeting resolved to amend item 8 in the articles of association by removing information regarding record date as an adaption to amended legislation and by inserting a provision regarding collection of powers of attorneys and postal voting. Further, it was resolved on a few non-material amendments attributable to formalities.
Issue authorization
The Meeting resolved, to authorize the Board of Directors to, on one or more occasions until the next annual general meeting, issue new shares. An issue can be decided with or without regard to shareholders’ pre-emption rights. Following this authorization, a total maximum number of shares equivalent to 10 per cent of the total number of outstanding shares in the company on the date of the Meeting’s authorization resolution, may be issued in new share issues.
For more information, please contact:
Johan Tengelin, CEO
johan.tengelin@magnoliabostad.se
Marita Björk, IR and Financial Media Manager
+46 72 720 00 06, marita.bjork@magnoliabostad.se
Magnolia Bostad AB, CIN 556797–7078, is a leading urban developer that develops new residential properties primarily rental apartments but also tenant-owned apartments, community service properties and hotels, in attractive locations in Sweden's growth areas and major cities. Housing is being developed both for sale and for self-management. Our work is based on a holistic approach where the operations are conducted in a way that promotes long-term, sustainable urban development. Magnolia Bostad's shares (MAG) are listed on Nasdaq Stockholm. More information is available at www.magnoliabostad.com