NCC AB’s Annual General Meeting on April 2, 2014
The Annual General Meeting of NCC AB shareholders will be held on Wednesday, April 2, 2014 at Grand Hôtel, Vinterträdgården in Stockholm. The Meeting will start at 4:30 p.m. and registration will commence at 3:30 p.m.
The Board proposes that the Meeting approve a dividend of SEK 12.00 per share for the 2013 fiscal year, divided into two payments, whereby SEK 6.00 will be paid on the first date of payment and SEK 6.00 will be paid on the second date of payment.
The Board proposes that the record date for the first dividend payment be Monday, April 7, 2014. If the Meeting approves the motion, it is estimated that the dividend of SEK 6.00 will be distributed from Euroclear Sweden AB on Thursday, April 10, 2014.
The Board proposes that the record date for the second dividend payment be Tuesday, October 28, 2014. If the Meeting approves the motion, it is estimated that the dividend of SEK 6.00 will be distributed from Euroclear Sweden AB on Friday, October 31, 2014.
The Nomination Committee proposes that the Board of Directors be increased to seven elected members through reelection of Tomas Billing, Ulla Litzén, Olof Johansson, Sven-Olof Johansson and Christoph Vitzthum and for new election: Carina Edblad and Viveca Ax:son Johnson. Antonia Ax:son Johnson has declined reelection following fifteen years on the NCC AB Board. Tomas Billing is proposed as Chairman of the Board.
It is proposed that director fees be paid in a total amount of SEK 3,800,000, distributed so that the Chairman of the Board receives SEK 950,000 and each other AGM-elected member receives SEK 475,000.
It is proposed that the registered auditing firm PricewaterhouseCoopers AB, with Håkan Malmström as auditor-in-charge, be reelected as auditor of the company. The auditor is to be elected until the close of the 2015 AGM.
The Board of Directors proposes that the guidelines for determining salaries and other remuneration of Group Management, as adopted at the 2013 AGM, continue to be applied. The Board also proposes a long-term performance-based incentive program (LTI 2014), which places additional focus on profitability and work environment. It is proposed that LTI 2014 will encompass approximately 150 senior executives and key personnel. The reasons, scope, terms and conditions are described in the enclosed official notification. If LTI 2014 is adopted by the AGM, the short-term maximum variable remuneration payable to the participants will be reduced. In all significant respects, LTI 2014 complies with the corresponding program (LTI 2013) adopted by the AGM on April 9, 2013.
In order to secure delivery of Series B shares in accordance with LTI 2014 and to cover costs, including costs for social security fees and payments on the basis of the synthetic shares, it is proposed that the Board be authorized by the AGM to make decisions on one or several occasions during the period up to the following AGM to buy back no more than 867,486 Series B shares, and that the AGM resolve to permit the transfer of not more than 303,620 Series B shares to the participants of LTI 2014.
Shareholders representing more than 50 percent of the total voting rights in NCC AB propose the following Nomination Committee: reelection of Viveca Ax:son Johnson, Marianne Nilsson, Vice President of Swedbank Robur AB, and Johan Strandberg, equity researcher, SEB Funds. It is proposed that Viveca Ax:son Johnson be elected chairman of the Nomination Committee.
The complete notification is available in the enclosed pdf document.
For further information, please contact:
Johan Bergman, Investor Relations Manager, +46 8-585 523 53, +46 70-354 80 35
This is the type of information that NCC could be obligated to disclose pursuant to the Securities Market Act. The information was issued for publication on February 24, 2014 at 7 p.m. (CET).
All of NCC:s press releases are available on www.ncc.se.
NCC is one of the leading construction and property development companies in the Nordic region. NCC had in 2013 sales of SEK 58 billion, with 18,500 employees.