Resolutions at Semcon’s Annual General Meeting 2020

Semcon’s Annual General Meeting (AGM) was held on Tuesday April 28, 2020 at the company’s head office in Göteborg, Sweden. The AGM took inter alia the following resolutions. 

Adoption 
The AGM adopted the parent company and consolidated income statements and balance sheets.

Dividend 
In accordance with the Board’s revised proposal, the AGM resolved that no dividend will be paid.

Discharge from liability
The AGM granted the Board of Directors and the CEO discharge from liability for the 2019 financial year.

Board members
The AGM resolved that the Board of Directors will continue to comprise of five directors elected by the AGM without deputy directors. The AGM re-elected Tore Bertilsson, Carl Backman, Eva Elmstedt Jeanette Reuterskiöld and Karl Thedéen as board members. Tore Bertilsson was re-elected as Chairman of the Board.

Remuneration to the Board of Directors and auditors
The AGM resolved on a total remuneration of SEK 1,785,000 be paid to Board members elected by the AGM, of which SEK 625,000 to the Chairman and SEK 290,000 to each of the other members elected by the AGM. No additional fees will be paid for work on Board committees.
The AGM also resolved that auditors’ fees will be paid according to invoice.

Auditors
The AGM elected Ernst & Young AB as its registered auditing company until the end of the next AGM.

Remuneration to senior executives
Guidelines for remuneration to senior executives were adopted in accordance with the Board's proposal.

Authorisation to issue new shares
The AGM authorised the Board, until the next AGM, to resolve on new share issues, deviating from shareholders’ preferential rights, of no more than 1,811,253 ordinary shares to allow the use of own shares as payment for acquisition activities. The subscription price shall correspond to the share’s estimated market value.

Authorisation on the acquisition and transfer of own shares
The AGM authorised the Board, until the next AGM, to resolute on the acquisition of ordinary shares on the stock market within the applicable price interval or through directed offers to owners of ordinary shares, at a price equivalent to the market price with an addendum of no more than 20 per cent to improve the company’s capital structure and to allow the use of own shares as payment for acquisition activities. Acquisitions may, on each occasion, include up to a number of ordinary shares implying that the company after an acquisition, owns maximum ten per cent of the outstanding shares in the company. 

The AGM also authorised the Board, until the next AGM, to resolve on the transfer of own shares, deviating from shareholders’ preferential rights and outside the stock market, as payment for acquisition activities. Transfers may, on each occasion, be the entire number of own ordinary shares. The value of the payment should be equivalent to the estimated market value.

Changes to the Company’s Articles of Association
The AGM adopted changes to the Articles of Association in accordance with the Board’s proposal.

The information was submitted for publication, through the agency of the contact persons set out below, at 3.00 p.m. CET on 28 April 2020.


 

For more information, please contact:

Tore Bertilsson, Chairman of the Board, Semcon AB 
Phone: +46-31-721 03 06

Björn Strömberg, CFO, Semcon AB
Phone: +46-31-721 03 06

Semcon is an international technology company that develops products based on human needs and behaviours. We strengthen our customers’ competitiveness by always starting from the end user, because the person who knows most about the user’s needs creates the best products and the clearest benefits to humans. Semcon collaborates mainly with companies in the automotive, industry, energy and life science sectors. With more than 2,200 specialised employees, Semcon has the ability to take care of the entire product development cycle, from strategy and technology development to design and product information. Semcon was founded in Sweden in 1980 and has offices in over 30 locations in eight different countries. In 2019, the Group reported annual sales of SEK 1.9 billion. Read more at semcon.com

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