Invitation to the Annual General Meeting of Platzer Fastigheter Holding AB (publ)

Meeting on Thursday 16 April 2020 at 15:00 in Platzer’s property Gamlestads torg at Gamlestads torg 7, Gothenburg.

The Annual General Meeting of Platzer Fastigheter Holding AB (publ) will take place on Thursday 16 April 2020 at 15:00 in Platzer’s property Gamlestads torg at Gamlestads torg 7, Gothenburg. Admission to the Annual General Meeting is from 14:30.

CONFIRMATION OF ATTENDANCE

To be entitled to attend and vote at the Annual General Meeting of Platzer Fastigheter Holding AB, shareholders must be entered in the shareholder register maintained by Euroclear Sweden AB on 8 April 2020 and have notified the company of their intention to attend the Meeting not later than 8 April 2020. Confirmation of attendance can be given via the Company’s website platzer.se, by telephone on +46 (0)31 63 03 00 or by mail to Platzer Fastigheter Holding AB, c/o Euroclear Sweden, PO Box 191, SE-101 23 Stockholm. The confirmation should include the shareholder's name, personal identity number/company registration number, address, telephone number and shareholding, as well as the name(s) of any assistants (not more than two).

Shareholders who have chosen to register their shares in the name of a nominee must temporarily register their shares in their own name with Euroclear Sweden AB to ensure that they are entered in the shareholder register on 8 April 2020. This can be a temporary registration.

Shareholders who are represented by a proxy/proxies must issue a written, dated form of proxy. Forms of proxy can be downloaded from the company's website, platzer.se. If the form of proxy is issued by a legal entity, a signed copy of the entity's certificate of incorporation or equivalent authentication document is also required.  The original of the form of proxy, certificate of incorporation and other authorisation documents must be made available at the Meeting and, to facilitate admission to the Meeting, must be sent to the company at the above address, ensuring they will be received not later than 8 April 2020. The form of proxy must not be more than one year old, unless it states that it is valid for a longer period, although this must not be more than five years.

PROPOSED AGENDA           

1. Opening of the Meeting
2. Election of the Chairman of the Meeting
3. Preparation and approval of the voting list
4. Approval of the agenda
5. Election of two people to verify the minutes
6. Determination as to whether the Meeting has been duly convened
7. Presentation of
   
   i. the Annual Report and consolidated financial statements and the Auditor's Report concerning the parent company and the Group
   ii. the Board's proposal for payment of dividends and the explanatory statement
    
8. Address by the Chief Executive Officer
9. Resolution to adopt the income statement and balance sheet, as well as the consolidated income statement and consolidated balance sheet
10. Resolution on allocation of the company's profit in accordance with the duly adopted balance sheet and the record dates
11. Resolution to discharge the members of the Board and the CEO from liability
12. Resolution on the number of Board members and auditors and, in connection with this, the Nomination Committee's report on its work
13. Determination of the fees to the Board and auditors
14. Election of Board members and Chairman of the Board of Directors
15. Election of auditors
16. Resolution on policies for the appointment of the Nomination Committee
17. Resolution on guidelines for remuneration of senior executives
18. Resolution on authorisation for the Board to decide on purchase and transfer of the company’s own shares
19. Resolution on authorisation for the Board of Directors to decide on the issue of new shares
20. Closing of the Meeting

PROPOSALS FOR RESOLUTION

Election of Chairman of the Meeting, resolution on the number of Board members and auditors, fees to the Board of Directors and auditors, election of Board members and Chairman of the Board of Directors, and election of auditors (items 2, 12, 13, 14 and 15 on the Agenda).

In accordance with the principles approved by the Annual General Meeting on 25 April 2019, the Nomination Committee for the Annual General Meeting 2020 comprises Fabian Hielte (Chairman of the Board of Directors), Hans Ljungkvist (Länsförsäkringar Göteborg och Bohuslän), Jonas Rosman (Länsförsäkringar Skaraborg) and Henrik Forsberg Schoultz (Ernström & C:o AB), who is the Chairman of the Nomination Committee. The three largest shareholders, who are represented on the Nomination Committee, together hold 72.6 percent of the votes and 31.6 percent of the capital.

Nomination Committee’s proposal:

Item 2  
that the Meeting shall elect Charlotte Hybinette as Chairman of the Meeting.

Item 12  
that the Board shall consist of seven members, without deputy members, and that a registered public accounting firm shall be appointed auditor. The Nomination Committee’s proposal means that one Board member will be added to the Board of Directors.

Item 13    
that total fees paid to the Board shall amount to SEK 1,650,000 (1,295,000), to be distributed as follows: SEK 400,000 (370,000) to the Chairman of the Board and SEK 200,000 (185,000) to each of the other Board members. This corresponds to an increase of approx. 8.1% per Board member. A fee of SEK 50,000 is paid for the work performed by the Chairman of the Risk and Audit Committee. No additional fees are otherwise paid for committee work.

 
that fees to the auditors shall be paid according to an approved invoice.

Item 14  
that Fabian Hielte, Anders Jarl, Ricard Robbstål, Charlotte Hybinette, Caroline Krensler and Eric Grimlund shall be re-elected as members of the Board and that Anneli Jansson shall be elected new member of the Board.
 

Anneli Jansson was born in 1974 and has an MSc in Engineering from KTH Royal Institute of Technology. She has many years’ experience of the property sector and has held the post of CEO of Humlegården Fastigheter AB since 2016. Prior to this, Anneli was responsible for the Nordic operations at Grosvenor Fund Management and previously she worked at KF Fastigheter, Vision & Resurs Fastighetsutveckling, Ernst & Young and AGL. Anneli is a Board member at Brinova Fastigheter AB and deputy Board member at Fastighetsägarna Sverige. Anneli Jansson is independent of the company, senior management and the company’s major shareholders.
 

For information about the Board members and their other directorships, please see the company’s website platzer.se.

Fabian Hielte is proposed for re-election as Chairman of the Board of Directors.

Item 15    
that the public accounting firm PwC be reappointed as the company's auditor until the close of the 2021 Annual General Meeting, in accordance with the Board’s recommendation. PwC has advised that if PwC is appointed, Johan Rippe will be the new Auditor in Charge.

Nomination Committee (Item 16 on the Agenda):

Nomination Committee’s proposal:

The Nomination Committee is appointed annually and must consist of the Chairman of the Board of Directors and a representative of each of the three largest shareholders in terms of votes at the end of the second quarter. The Chairman of the Board of Directors shall convene the first meeting of the Nomination Committee. The names of the persons who will form the Nomination Committee must be published on the company's website not later than six months before the next Annual General Meeting. If any of the three largest shareholders in terms of votes refrains from appointing a representative to the Nomination Committee, this right accrues to the next largest shareholder in terms of votes. If a Nomination Committee member's connection with the shareholder that nominated the member ends or if the member leaves the Nomination Committee for any other reason, the shareholder that nominated the member will have the right to replace the member on the Nomination Committee. If any shareholder who appointed a member to the Nomination Committee disposes of a major holding of its shares in the company before the Nomination Committee’s task has been completed, the member appointed by this shareholder must, if the Nomination Committee so decides, resign and be replaced by a new member appointed by the largest shareholder, in terms of votes, that is not represented on the Nomination Committee.  The Nomination Committee appoints a Chairman from among its members. The Chairman of the Nomination Committee must not be a member of the Board of Directors. The Nomination Committee must prepare proposals for presentation to the 2021 Annual General Meeting for resolutions on the Chairman of the Meeting, Board fees, auditors' fees, the Board of Directors, the Chairman of the Board of Directors, auditors and the principles for appointment of the Nomination Committee for the 2022 Annual General Meeting. 
 

Dividend and record date (Item 10 on the Agenda)

The Board of Directors and the CEO propose a dividend to the shareholders of SEK 2.00 per share, to be paid in two instalments of SEK 1.00 each. The Board of Directors proposes 20 April 2020 and 19 October 2020 as the record dates for the dividend.
 

Guidelines for remuneration of senior executives (Item 17 on the Agenda)

Following preparatory work carried out by the Remuneration Committee, the Board of Directors is proposing that the Annual General Meeting approve the following principal guidelines for remuneration of senior executives.

Remuneration and other terms and conditions of employment for the company’s senior management must be on market terms and competitive, and must be based on the employee’s responsibilities and performance. Remuneration consists of a fixed base salary for all members of the senior management. Pension terms and conditions must be on market terms and based on a defined-contribution pension or the ITP occupational pension scheme for white-collar workers.

In addition to the fixed salary, variable monetary compensation shall also be possible, which shall then reward predefined, measurable performance. Such variable monetary compensation shall not exceed ten (10) percent of annual fixed base salary for all senior executives and shall depend on outcomes of targets linked to operating surplus, project lettings, positive net lettings and increase in EPRA NAV. The measurement period is the calendar year for which targets have been set. The aim of variable monetary compensation is to promote long-term value creation and sustainability work within the Group. Further variable monetary compensation may be payable in exceptional circumstances on condition that such arrangements are only agreed on an individual level, either in order to recruit or retain executives, or as compensation for extraordinary work performance above and beyond the person’s ordinary job responsibilities. Such compensation must not exceed an amount corresponding to forty (40) percent of annual fixed base salary and must not be paid more than once per year and person. Decisions on further monetary compensation are taken by the Board of Directors.

In the event of termination of employment, the period of notice for the CEO and other senior executives must not exceed twelve months, irrespective of whether employment was terminated by the company or the executive. Severance pay, including salary during the notice period, must not exceed 12 monthly salaries.

The guidelines comprise senior executives in Platzer’s Group management, as well as member of the Board of Directors where applicable. The Board of Directors shall have the right to deviate from the guidelines in the event of special circumstances in individual cases and if deviation is necessary in order to safeguard Platzer’s long-term interests, including its sustainability work.

Authorisation for the Board of Directors to decide on purchase and transfer of the company’s own shares (Item 18 on the Agenda)

The Board of Directors proposes that the Annual General Meeting passes a resolution to authorise the Board to purchase and transfer the company’s own shares as set out below.

Authorisation to purchase own shares
The Board of Directors proposes that the Annual General Meeting resolves to authorise the Board of Directors to decide, not later than the time of the next Annual General Meeting, on purchase of shares in the company as follows:

1. The maximum number of Class B shares authorised to be purchased is the number of shares that ensures that the total holding of own Class B shares following acquisition does not exceed 10% per cent of all registered shares in the company.
2. The shares may be purchased on NASDAQ Stockholm or another regulated market.
3. Purchases may only be implemented at a price that is within the bid-offer spread at any time.
4. Payment for the shares must be made in cash.
5. Purchases may be carried out on one or more occasions in the period until the next AGM.

Authorisation to transfer own shares
The Board of Directors proposes that the Annual General Meeting resolves to authorise the Board of Directors to decide, not later than the time of the next Annual General Meeting, on transfer of shares in the company as follows:
 

1. The Board may transfer the entire holding of own shares in the Company held at the time of the Board’s decision on the transfer.
2. Transfer of shares may be carried out on NASDAQ Stockholm or another regulated market, or in another manner with or without deviation from shareholders’ pre-emption rights.
3. Transfers on NASDAQ Stockholm may only be implemented at a price that is within the bid-offer spread at any time.
4. For transfers not carried out on NASDAQ Stockholm, the price must be established at a level that is not lower than the price on market terms, but which may nevertheless include a market discount relative to the market price.
5. Payment for transferred shares must be in the form of cash or non-cash consideration, or may be offset against a claim against the company or be made on terms according to Chapter 2, Section 5 of the Swedish Companies Act.
6. Transfer of shares may be implemented on one or more occasions in the period until the time of the next Annual General Meeting.

The reason for deviation from shareholders’ pre-emption rights for transfers of shares and the basis for the offer price are to achieve the best possible terms and conditions for the company.

Purpose
The purpose of the authorisation is to give the Board increased opportunities to be able to adapt the company’s capital structure to its capital requirements at any time, thereby enabling the Board to contribute to increased shareholder value in the company. In addition, the purpose of the authorisation is to give the Board the opportunity to transfer shares in connection with the financing of any property or company acquisitions, and to facilitate the acquisition of working capital or expansion of the shareholder base. The purpose of the authorisation is not for the company to trade in its own shares for short-term gain.

The company’s holding of own shares at the date of issue of the notice of the Annual General Meeting stood at 118,429 Class B shares.

For the resolution to be valid, it must be supported by shareholders with at least two-thirds of both the votes cast and the shares represented at the meeting.    

Authorisation for the Board of Directors to decide on a new share issue (Item 19 on the Agenda)

The Board of Directors proposes that the Annual General Meeting resolves to authorise the Board of Directors to decide, not later than the time of the next Annual General Meeting, on one or more occasions and with or without preferential rights for shareholders, on a new issue of class B shares for a total value of not more than 10 per cent of the share capital. The share issue may be implemented as a cash, non-cash or offset issue. Shares may only be issued at market price. The reason for deviating from shareholders’ preferential rights is that the company, in the case of property transactions, may need prompt access to capital or, alternatively, may need to pay with the company's shares. Furthermore, it is proposed that the Meeting authorise the Board of Directors and the CEO to make any minor adjustments to this resolution and take any action that may be necessary in connection with registration of the authorisation. 

For the resolution to be valid, it must be supported by shareholders with at least two-thirds of both the votes cast and the shares represented at the meeting.    
 

NUMBER OF SHARES AND VOTES

The total number of shares and votesin the company on the date this notice was issued were as follows:

The total number of shares in the company is 119,934,292, of which 20,000,000 are Class A shares and 99,934,292 are Class B shares.

One A share carries 10 votes. One B share carries one vote.

The total number of votes in the company is 299,934,292.

The company holds 118,429 Class B shares which cannot be represented at the Annual General Meeting.
 

DOCUMENTS

The Nomination Committee’s full resolution proposals, reasoned statements and information about proposed Board members and auditors, together with associated documentation, are available from the company and on the company’s website, platzer.se. The Annual Report, consolidated financial statements, Auditor’s Report and Auditor’s Opinion, the Board of Directors’ full resolution proposals and associated reasoned statements pursuant to Chapter 18, Section 4 and Chapter 19, Section 22 of the Swedish Companies Act, and the Board of Directors’ report on the Remuneration Committee’s evaluation of remuneration and application of AGM guidelines on salaries and other remuneration for senior executives, as well as the auditor’s opinion pursuant to Chapter 8, Section 54 of the Swedish Companies Act, will be made available to shareholders on the company at Kämpegatan 7 in Gothenburg three weeks before the AGM. The documents will also be published on the company’s website, platzer.se.

On request, the documents can also be sent by post to shareholders who provide their postal address. The documents will be presented at the Annual General Meeting.
 

INFORMATION AT THE MEETING

The shareholders are entitled to certain information at the Meeting. The Board of Directors and the CEO shall disclose information on matters that may affect the assessment of an item on the agenda, matters that may affect the assessment of the company's or a subsidiary's financial situation or the company's relationship with another Group company if requested to do so by a shareholder and if the Board of Directors is of the opinion that it will not cause any material harm to the company.

Questions may be sent in advance to Platzer Fastigheter Holding AB, FAO: Agneta Timhagen Meier, PO Box 211, SE-401 23 Gothenburg or by email: arsstamma@platzer.se.

PROCESSING OF PERSONAL DATA

Personal data relating to shareholders taken from the shareholder register, confirmation of attendance at the Annual General Meeting and information relating to proxies and assistants will be used for registration, preparation of a voting list for the Annual General Meeting and, where applicable, the minutes of the Annual General Meeting. Platzer Fastigheter Holding AB is the controller responsible for the processing of personal data that is carried out by the company in connection with the Annual General Meeting. For information on how your personal data is processed, see https://www.euroclear.com/dam/ESw/Legal/Integritetspolicy-bolagsstammor-svenska.pdf.

Gothenburg, March 2020

Platzer Fastigheter Holding AB (publ)

Board of Directors

For more information, please contact:

P-G Persson, CEO, Platzer, Tel: +46 (0)734 11 12 22
Fredrik Sjudin, CFO, Platzer, Tel: +46 (0)721 27 77 78
 

This information was released for publication on 11 March 2020 at 16:00 CET through the agency of the contact persons shown above.

Platzer Fastigheter Holding AB (publ) owns and develops commercial properties in the Gothenburg area comprising a total lettable area of around 825,000 sq. m., worth around SEK 20 billion. Platzer is listed on Nasdaq Stockholm, Mid Cap.