Nobia's 2012 Annual General Meeting
Nobia held its Annual General Meeting in Stockholm today.
Election of Board members and auditors
In accordance with the Nomination Committee's proposal, the Annual General Meeting re-elected Board members Rolf Eriksen, Bodil Eriksson, Morten Falkenberg, Nora Førisdal Larssen, Johan Molin, Thore Ohlsson and Fredrik Palmstierna. Lilian Fossum Biner was elected as a new Board member. Lotta Stalin declined re-election. Furthermore, Johan Molin was re-elected Chairman of the Board.
The company's auditors, KPMG AB, with Auditor in Charge Helene Willberg, were re-elected for the period up to the end of the next Annual General Meeting.
Decision regarding appropriation of profits
The Annual General Meeting resolved in accordance with the Board's proposal that all funds at the disposal of the Meeting be carried forward.
Fees to the Board of Directors
The Annual General Meeting resolved that fees would be paid to the Board of Directors in the total amount of SEK 2,800,000.
Guidelines for remuneration to Group management
The Annual General Meeting resolved to adopt the guidelines for remuneration and other employment conditions to Group management. The guidelines' main stipulation is that remuneration to Group management corresponds to market levels.
Introduction of Performance Share Plan and sale of treasury shares under the Plan
In accordance with the Board's proposal, the Meeting resolved to introduce a Performance Share Plan. The plan comprises approximately 100 employees and imposes the requirement that participants must personally purchase shares. After three years, the participants are entitled to allotment of shares in Nobia free of charge, provided that certain conditions have been fulfilled, including financial performance requirements based on Nobia's earnings per share for 2012-2013. Targets will be announced after the end of the measurement period.
For the Performance Share Plan, the Annual General Meeting resolved, in accordance with the Board's proposal, to sell a maximum of 1,500,000 treasury shares to the participants of the Plan.
Authorisation to acquire and sell shares
The Annual General Meeting resolved to authorise the Board of Directors, during the period until the next Annual General Meeting, to acquire shares in an amount limited so that the total holding of treasury shares does not exceed ten per cent of all shares in the company. The Annual General Meeting also resolved to authorise the Board of Directors, on one or more occasions, to resolve to sell treasury shares, off NASDAQ OMX Stockholm.
Speech by the President
In his speech, Nobia's President and CEO Morten Falkenberg described the company's performance in 2011 and the Group's strategic initiatives entitled Growth and Efficiency.
For further information
Lena Schattauer, Head of Investor Relations
+46 (0)8 440 16 07 or +46 (0)705 95 51 00
lena.schattauer@nobia.com
Nobia develops and sells kitchens through some 20 strong brands in Europe, including Magnet in the UK, Hygena in France, HTH, Norema, Sigdal, Invita, Marbodal, Myresjökök in Scandinavia and Petra, Parma and A la Carte in Finland, ewe, Intuo and FM in Austria, Optifit in Germany, as well as Poggenpohl globally. Nobia generates profitability by combining economies of scale with attractive kitchen offerings. The Group has approximately 7,400 employees and net sales amounted to about SEK 13 billion in 2011. The share is listed on the NASDAQ OMX Stockholm under the short name NOBI. Website: www.nobia.com.