Announcement from PA Resources’ AGM on 16 April 2014
PA Resources AB (publ) held its Annual General Meeting on Wednesday 16 April 2014 in Stockholm. This is a summary of the most important decisions made by the Annual General Meeting.
The annual report for the parent company and the consolidated group’s annual report, together with the auditor’s report for the fiscal year 2013, were presented. The income statement and the balance sheet for both the parent company and the group regarding the fiscal year 2013 were adopted by the meeting.
The Meeting decided that no dividend would be paid out for the fiscal year 2013. The members of the Board and the CEO were granted discharge from liability for the fiscal year 2013.
The Meeting decided that the Board would comprise six ordinary members and re-elected Paul Waern, Philippe R Probst, Philippe R Ziegler and Nils Björkman and elected the company’s CEO Mark McAllister and Jérôme Schurink as new members. Jérôme Schurink was elected Chairman of the Board.
The Meeting decided to re-appoint Ernst & Young as auditors with the chartered accountant Björn Ohlsson as head auditor.
The fees to the Board of Directors were determined by the Meeting to a total of SEK 1,650,000 (last year 1,650,000) with SEK 550,000 to the chairman (last year 550,000) and SEK 275,000 to each of the other members not employed by the company (last year 275,000). The fees to the auditors would be paid according to reasonable and by the Company approved invoice.
The Meeting decided to establish a Nomination Committee for the next AGM, whereby three largest shareholders in Company as per 30 September 2014 will be asked to appoint one representative each, who together with the Chairman of the Board will comprise the Nomination Committee. In the event that a shareholder does not appoint a member, the next largest shareholder will be asked. The composition of the Nomination Committee must be communicated at the latest six months before the AGM in 2015.
The Meeting approved the guidelines proposed by the Board regarding remuneration to the CEO and other senior executives.
The CEO of PA Resources, Mark McAllister, addressed the Meeting and reported on the Group’s development during the fiscal year 2013 and the first quarter 2014. The presentation is available on the company’s website www.paresources.se.
Stockholm, April 16, 2014
PA Resources AB (publ)
For further information, please contact:
Ingrid Östhols, Head of Corporate Communication and IR
Tel +46 721 810 86
The above information has been made public in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 12.30 pm CET on 16 April 2014.