Resolutions made at MEKO’s annual general meeting 2024

MEKO held its annual general meeting today, 16 May 2024, at 7A Posthuset, Vasagatan 28, in Stockholm. The board of directors had decided that shareholders were entitled to exercise their voting rights also by postal voting in advance.

Income statements and balance sheets
The meeting adopted the income statement and balance sheet and the consolidated income statement and consolidated balance sheet for the financial year 2023.

Discharge from liability
The meeting granted the board members and CEO discharge from liability for the financial year 2023.

Disposition of the result
The meeting resolved on a dividend of SEK 3.70 per share. The dividend shall be paid in two instalments - with 1.85 SEK in May and 1.85 in November. The remaining amount is carried forward to the new account. The record date for the first instalment was set at 20 May 2024 and the second instalment was set at 18 November 2024, which means that the dividend is expected to be paid out through Euroclear Sweden AB on 23 May and 21 November respectively.

The board
The meeting resolved that the number of board members shall be seven. Eivor Andersson, Kenny Bräck, Magnus Håkansson, Michael Løve and Helena Skåntorp were re-elected as directors. Dominick Zarcone and Robert S. Reppa were appointed as new board members.

Dominick Zarcone was elected as new chairman of the board.

Robert M. Hanser, Joseph M. Holsten and Justin Jude had declined re-election.

The meeting resolved that directors’ fees of SEK 810,000 shall be paid to the chairman of the board, SEK 515,000 to the vice chairman of the board, and SEK 375,000 to each of the other meeting-elected directors. The meeting further resolved that SEK 180,000 shall be paid to the chairman of the audit committee and SEK 75,000 to each of the other members of the audit committee, and
SEK 80,000 to the chairman of the remuneration committee and SEK 40,000 to each of the other members of the remuneration committee.

Auditor
The meeting appointed Ernst & Young AB as auditor for the period until the end of the 2025 annual general meeting. Ernst & Young AB has informed the company that Henrik Jonzen will be the auditor in charge. The meeting resolved that the auditor's fee shall be paid in accordance with approved account.

Remuneration report
The meeting approved the board’s remuneration report for 2023.

Long-term share-based incentive program
The meeting resolved to introduce a long-term share-based incentive program (LTIP 2024), in accordance with the board’s proposal.

LTIP 2024 comprises of approximately 40 employees, including the group management of MEKO and certain other key employees in the group. Participation in LTIP 2024 requires a personal shareholding in MEKO. After the vesting period, about 3 years, the participants will be allocated shares in MEKO, provided that certain conditions are met. These conditions are linked to continued employment in the MEKO group, a personal shareholding in MEKO, and that certain performance targets are met. The performance targets refer to the total shareholder return on MEKO's share (TSR) and that certain target levels are achieved regarding growth in adjusted EBIT and growth in earnings per share (EPS). The maximum number of shares in MEKO that can be allocated under LTIP 2024 shall be limited to 380,000. The company intends to enter into an equity swap agreement with a bank to ensure the delivery of shares under the program.

Authorization to acquire and transfer of own shares
The meeting approved the board’ proposal and authorized the board, for the period until the next annual general meeting, on one or several occasions, to acquire such a maximum number of shares so that the company’s holding, at any time, does not exceed 10 per cent of all shares in the company.

The meeting also resolved to authorize the board, for the period until the next annual meeting, on one or several occasions, to transfers the company’s own shares in connection with or due to acquisition. All shares held by the company at the time of the board’s decision on transfer may be transferred.

Authorization to issue new shares
The meeting resolved, in accordance with the board’s proposal, to authorize the board for the period until the next annual general meeting, on one or more occasions, with or without preferential rights for shareholders, to decide on the issue of a maximum of 5,641,662 new shares.

Complete information and resolutions
Complete documentation about the meeting’s resolutions will be available on the company’s website: www.meko.com.

For further information, please contact:

Christer Johansson
CFO, MEKO
Phone: +46 (0)8-464 00 00
Email: christer.johansson@meko.com

Anders Oxelström
Director of Communications, MEKO
Phone: + 46 73 522 52 42
Email: anders.oxelstrom@meko.com

Fredrik Sätterström
IRO, MEKO
Phone: +46 (0)8 464 00 20
E-mail: fredrik.satterstrom@meko.com