OEM withdraws the dividend proposal, brings forward the interim report for the first quarter, but remains with the planned date for the Annual General Meeting
OEM withdraws the dividend proposal
The Board of Directors of OEM has decided to withdraw the previously communicated proposal to the Annual General Meeting 2020 for a dividend of SEK 7.00 per share. The decision was made in the light of the prevailing global environment, due to the outbreak of Covid-19 and its effects on the outside world and markets, and the risk of the outbreak's potential financial impact on OEM's operations and result.
"In light of the prevailing external environment, the Board of Directors considers this a sound action to take at this time to ensure that the company remains well positioned for the future," says Petter Stillström, Chairman of the Board of OEM International AB.
OEM brings forward the interim report for the first quarter 2020
OEM's Board of Directors has also decided to move forward to April 9, 2020 the interim report for the first quarter. The report was previously scheduled for April 22, 2020. The background is that the company’s priority is to put the work in the first quarter behind us more quickly in order to focus instead on the business and the challenges we have ahead.
OEM plans to keep the Annual General Meeting 2020 on April 22
OEM has decided, for the time being, to remain with previous decision to hold the Annual General Meeting on April 22, 2020. We believe that we can conduct the meeting in a manner that follows the rules and recommendations from the government and the public health authority. We have a high priority on ensuring the health and safety of shareholders and employees, and therefore the meeting will be shortened and participation from the board and management will be limited.
The CEO's speech will be published on the website.
Tranås April 6, 2020
OEM International AB (publ)
This information is of such a nature that its disclosure by OEM is required under the EU Market Abuse Regulation no 596/2014. The information was provided for publication on April 6, 2020 at 16.00 CET by Johan Broman.
For further information, please contact: Jörgen Zahlin, managing director and CEO for OEM International, phone number +46 (75) 242 40 22.
OEM International, with its head office in Tranås, Sweden, comprises 34 operational units in 14 countries. The group trades in industrial components and systems for industrial automation. In simple terms, OEM acts as an alternative for manufacturers to selling through their own companies.
Visit our website – www.oem.se