NCC’s Annual General Meeting 2014Read original
At today’s Annual General Meeting (AGM) of shareholders in NCC, the shareholders passed resolutions concerning dividend payment, election of the Board of Directors and director fees, election of auditor, guidelines for remuneration of senior executives and a long-term performance-based incentive program. Resolutions concerning the buyback and transfer of treasury shares were also passed.
NCC’s AGM approved the Board’s motion concerning payment of a dividend of SEK 12.00 (10.00) per share, 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.
Monday, April 7, 2014 was adopted as the record date for the first dividend payment. It is estimated that payment from Euroclear Sweden AB will occur on Thursday, April 10, 2014.
Tuesday, October 28, 2014 was adopted as the record date for the second dividend payment. It is estimated that payment from Euroclear Sweden AB will occur on Friday, October 31, 2014.
The AGM adopted the income statements and balance sheets for 2013 and the Board of Directors and the President were discharged from personal liability.
According to the Nomination Committee’s proposal, the Meeting reelected Tomas Billing, Ulla Litzén, Christoph Vitzthum, Olof Johansson and Sven-Olof Johansson as Members of the Board and newly elected Carina Edblad and Viveca Ax:son Johnson. Tomas Billing was reelected Chairman of the Board.
It was resolved that director fees totaling SEK 3,800,000 be paid to the Members of the Board, distributed so that the Chairman of the Board will receive SEK 950,000 and that each other AGM-elected member will receive SEK 475,000 each.
The registered auditing firm PricewaterhouseCoopers AB, with Håkan Malmström as auditor-in-charge, was reelected auditor of the company. The auditing firm was elected until the close of the 2015 AGM.
Viveca Ax:son Johnson (Chairman), Marianne Nilsson (Executive Vice President of Swedbank Robur AB), and Johan Strandberg (Analyst at SEB Fonder) were reelected members of the Nomination Committee.
The AGM resolved that the guidelines for determining salaries and other remuneration payable to Group Management that were adopted at the 2013 AGM would continue to be applied subject to the following adjustment. The maximum short-term variable remuneration payable to the CEO and other members of Group Management will be reduced by 10 percentage points to 40 percent of fixed salary for the CEO and to 30-40 percent of fixed salary for other members of Group Management.
It was also resolved to introduce a long-term performance-based incentive plan (LTI 2014) for senior executives and key personnel in accordance with the conditions stated in the official notification of the Meeting.
To cover the commitment according to LTI 2014, the AGM authorized the Board, until the next Meeting, to buy back a maximum of 867,486 Series B shares and to transfer a maximum of 303,620 Series B shares to participants of LTI 2014. The buy-backs must occur on NASDAQ OMX Stockholm at a price per share within the span of share prices registered at the particular time.
At a statutory Board meeting held in connection with the AGM, the Board confirmed its mandate to buy back shares, as adopted by the AGM on April 2, 2014.
For further information, please contact:
Ann Lindell Saeby, Senior Vice President Corporate Communications NCC AB, +46 8 585 522 04, +46 76 899 98 48
Johan Bergman, Investor Relations Manager, NCC AB, +46 8 585 523 53, +46 70 354 80 35
NCC’s press telephone: +46 (0)8-585 519 00, E-mail: firstname.lastname@example.org
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 April 2, 2014, at 18:30 p.m.
All of NCC’s press releases are available on www.ncc.se/press.
NCC is one of the leading construction and property development companies in the Nordic region. In 2013, NCC reported sales of SEK 58 billion and had 18,500 employees.