Report from the AGM of ProfilGruppen AB
Around 110 shareholders and guests attended today's Annual General Meeting at Folkets Hus in Åseda. The meeting was chaired by Bengt Stillström.
The Acting CEO Kåre Wetterberg gave a summary of last year's events and initiatives. Kåre informed about the market for aluminum profiles, both in Europe and Sweden, as well as investments made in the production, and efforts to increase ProfilGruppen's market presence. Finally, he reviewed the financial information regarding last year.
Decisions of the Annual General Meeting
The income statement and balance sheet as well as the consolidated income statement and the consolidated balance sheet for the 2013 financial year were adopted.
Due to the Group's result the Annual General Meeting decided that no dividend payout shall be made for the financial year of 2013.
Election of the Board and auditor
The following Board members were reelected; Bengt Stillström, Thomas Widstrand, Mats Egeholm, Susanna Hilleskog and Kåre Wetterberg. Bengt Stillström was elected as Chairman of the Board for the period until a new CEO assumes the position, thereafter it was decided that Kåre Wetterberg returns as Chairman of the Board.
The Company’s auditor, Ernst & Young AB, with Johan Thuresson as auditor in charge, was reelected for the period until the close of the 2015 Annual General Meeting.
The Annual General Meeting decided on fees for Board members in accordance with the nomination committees proposals. Hence, fees will be paid as follows:
To the Chairman SEK 340,000.
To other Board members elected in the meeting not employed by the company SEK 125,000 each.
The remuneration- and audit committees are included in the Board's tasks and no additional fees will be awarded.
No fees will be paid to Board Members and deputies elected by the employees.
Remuneration for auditors was decided in accordance with approved invoices.
Decision on the nomination committee
The Annual General Meeting approved the proposal from the nomination committee on the procedural issues regarding how the new nomination committee is to be appointed and regarding its duties for the Annual General Meeting 2015.
Guidelines for remuneration for senior executives
The AGM decided on guidelines for remuneration for senior executives according to the proposal of the Board. No essential changes of the principles compared to last year was decided.
Minutes from the AGM
Verified minutes from the AGM will be published on the Group’s website.
The interim report for the first quarter will be submitted on 23 April 2014. Dates for the release of financial information are available on the Group’s website, www.profilgruppen.se/koncern.
Summary of the CEO's speech and verified minutes from the meeting will be published on the company’s website, www.profilgruppen.se/koncern.
Åseda, 10 April 2014
Board of ProfilGruppen AB (publ.)
Corporate ID no. 556277-8943
For further information:
Kåre Wetterberg, Acting CEO +46 (0)70 656 40 14
Bengt Stillström, Chariman of the Board +46 (0)70 440 40 99
ProfilGruppen is a supplier of customised aluminium extrusions and components.
This information is published in accordance with applicable laws, listing agreements and regulations.
The information was submitted for publication at 19.30 CET on April 10, 2014.