Sandvik Annual General Meeting 2009

Sandvik AB’s Annual General Meeting, held in Sandviken on 28 April, approved a dividend of SEK 3.15 per share for 2008. The record date for payment of the dividend was set at Monday, 4 May. The dividend is expected to be sent to shareholders by Euroclear Sweden AB on Thursday, 7 May.

In his address, Lars Pettersson, President and CEO, commented on fiscal 2008 and on the company’s performance in the first quarter of 2009. The presentation included a report on the dramatic market developments since the fourth quarter of 2008, with the subsequent sharp decline in order intake for the Group. The difficult and uncertain business situation remains and has resulted in robust actions to adapt production capacity, cut costs through such measures as personnel reductions, reduce new investments and improve cash flow. The presentation also included a report on future business possibilities based on the strengths of the company as well as new customer demands.

Board of Directors
Hanne de Mora, Georg Ehrnrooth, Fredrik Lundberg, Egil Myklebust, Anders Nyrén, Lars Pettersson and Simon Thompson were re-elected as members of the Board, with Clas Åke Hedström as Chairman of the Board.

The unions appointed Tomas Kärnström and Jan Kjellgren as members of the Board and Mette Ramberg and Bo Westin as deputy members of the Board

Resolution regarding Nomination Committee
The Meeting resolved that the four largest shareholders known to the company on the final banking day in August 2009 shall appoint one member each and these persons and the Board Chairman, convener, shall comprise the Nomination Committee.

Resolution on principles of remuneration and other employment conditions for Group Executive Management
The Annual General Meeting voted to approve the Board’s proposal regarding principles of remuneration, etc., for Group Executive Management.

Statutory meeting of the Board of Directors
A statutory meeting of the Board of Directors was held following the Annual General Meeting. Anders Nyrén was appointed Vice Chairman. The Audit Committee comprises Anders Nyrén, Chairman, and Hanne de Mora. The Remuneration Committee comprises Clas Åke Hedström, Georg Ehrnrooth and Egil Myklebust.

Wilhelm Haglund Medal
Thomas Galler and Gerhard Reiter, Sandvik Mining and Construction, were named Product Developers of the Year and were awarded the Wilhelm Haglund Medal for the development of the Sandvik MB 600 Bolter Miner, which is a product that offers enhanced performance, operational reliability and ergonomics. The product is protected by eight patents.



Sandviken, 28 April 2009


Sandvik Aktiebolag (publ)