Report from the Annual General Meeting of Quartiers Properties AB (publ), 30 May 2018
Quartiers Properties AB (publ) held its Annual General Meeting for the 2017 operating year on Wednesday 30 May, 2018. The following main decisions were made.
Adoption of balance sheet and income statement and distribution of profit relating to preference shares
The Annual General Meeting adopted the income statement and balance sheet contained in the annual accounts and resolved that a dividend be paid on the company’s existing preference shares, and preference shares that may be issued, for a total maximum amount of SEK 12,000,000. The remaining amount, i.e. SEK 250,125,892, will be carried forward. The dividend shall be distributed in the amount of 24 öre per preference share and quarter, and the standard record dates for dividends shall be 29 June 2018, 28 September 2018, 28 December 2018, 29 March 2019 and 28 June 2019 (provided these dates fall before the 2019 AGM).
Payment of the dividend will be made on the third business day following the record date. The dividend for preference shares that have not yet been issued by the date the AGM has resolved on the dividend are conditional on the preference share having been registered with the Swedish Companies Registration Office and entered into the share register maintained by Euroclear Sweden AB prior to the record date. Any remaining distributable funds following payment of the dividend as detailed above will be carried forward.
The Board of Directors and Auditor
The AGM gave discharge to the Board members and Chief Executive Officer for the 2017 operating year.
The AGM re-elected Jörgen Cederholm, Lars Åke Olofsson, Sten Andersen and Jimmie Hall for the period up until the end of the next Annual General Meeting. Jörgen Cederholm was re-elected as Chairman of the Board. Moreover, the AGM re-elected registered audit firm Öhrlings PricewaterhouseCoopers AB with principal auditor Henrik Boman for the period up until the end of the next AGM.
The AGM resolved that Board fees of SEK 160,000 shall be paid to the Chairman and SEK 80,000 to each
of the other Board members elected by the AGM,
with the exception of Board members who have extensive
consulting assignments within the Group. The AGM decided that the fee to the auditor should be paid on an ongoing basis in accordance with invoices approved by the company.
The AGM decided on the composition and guidelines of the nomination committee.
The AGM resolved to authorise the Board of Directors up until the next AGM and within the limitations of the Articles of Association, on one or more occasions, with or without deviation from shareholders’ preferential rights, to decide on the issue of shares (ordinary shares and/or preference shares), warrants and/or convertible shares. When deciding on the number of preference shares to be issued, the Board of Directors shall ensure that the company is able to fulfil its commitments relating to dividends for preference shares, in accordance with the decision regarding the distribution of profit. An issue may be made against a cash payment, via assets contributed in kind and/or via offsetting, or otherwise according to conditions. It is noted that the Board decided to exercise this authority to the extent that it results in an increase in the share capital of no more than 15 percent. In addition, no warrants or convertible shares will be issued. For private cash issues the subscription price must be set on a market basis.
For more detailed information about the content of the decisions, please refer to the notice to attend the AGM and the complete proposals. The notice to attend the AGM and complete proposals relating to decisions made by the AGM can be found at the company’s website, www.quartiersproperties.se.
For further information, please contact:
Marcus Johansson Prakt, Interim CEO
Phone: +46 (0)72-018 59 98
Jörgen Cederholm, Chairman
Phone: +46 (0)70-290 19 00
The company in brief
Quartiers Properties is a Swedish property development company with operations on the Spanish Costa del Sol. The company was founded in 2014 and has since built up a property portfolio of investment properties and project properties. The company develops, sells and leases property.
Mangold is the company’s certified adviser. Mangold can be contacted on +46 (0)8-503 015 50.