Nominating Committee ahead of the 2009 Annual General Meeting
The 2008 Annual General Meeting of Seco Tools passed a resolution to appoint a Nominating Committee consisting of the Board Chairman (who acts as convener) and one representative for each of the four principal shareholders. At the time of the formation of the Nominating Committee, the ownership conditions shall determine which shareholders are the principal shareholders based on the information received from VPC AB on the last banking day in August. The composition of the Nominating Committee shall be made public as soon as the members have been appointed. The Nominating Committee shall be chaired by the member representing the largest shareholder and its members shall serve for the period until the appointment of a new Nominating Committee.
The responsibilities of the Nominating Committee are to put forward recommendations regarding election of the Chairman of the Annual General Meeting, the number of members to serve on the Board of Directors, compensation to Board members and auditors, candidates for election of Board members and the Board Chairman and proposals for appointment of a Nominating Committee ahead of the 2010 Annual General Meeting and its duties.
Based on the ownership structure in Seco Tools on 31 August 2008, the Nominating Committee ahead of the 2009 Annual General Meeting consists of Lars Pettersson (Sandvik AB), Jan Andersson (Swedbank Robur Fonder), Ramsay J. Brufer (Alecta Pensionsförsäkring), Anders Algotsson (AFA Försäkring) and Anders Ilstam, Board Chairman. Lars Pettersson has been appointed chairman of the Nominating Committee.
Because Sandvik holds 60% of the share capital, corresponding to 89% of the votes in Seco Tools AB, a representative for Sandvik AB has been appointed to the Nominating Committee despite the fact that Sandvik’s Sandvik Tooling business area conducts operations that compete with Seco Tools AB. However, no representative for Sandvik Tooling is included in the Nominating Committee, the Board of Directors or any other corporate governance body.
Shareholders who wish to submit recommendations to the Nominating Committee for the 2009 Annual General Meeting via the company can do so by mail addressed to Seco Tools AB,
Att: Britt-Marie Conradsson, SE-737 82 Fagersta, Sweden,
or by e-mail addressed to britt-marie.conradsson@secotools.com.
Information about the Annual General Meeting and the Nominating Committee is available on the company’s website: www.secotools.com
Fagersta, Sweden, 17 October, 2008
SECO TOOLS AB; (publ)
Anders Ilstam
Board Chairman and Convener of the Nominating Committee
For additional information contact Anders Ilstam, Board Chairman, telephone +46 (0)70-630 76 02.
Previously published information can be found under the heading "Investor Relations & Corporate Governance" on Seco Tools’ website (www.secotools.com). Seco Tools AB’s corporate registration number is 556071-1060 and the company’s address is Seco Tools AB, SE-737 82 Fagersta, Sweden. The telephone number to the Group head office is +46 (0)223-400 00.