Report from the Annual General Meeting of shareholders in Trelleborg AB
The Annual General Meeting of the Trelleborg Group, an especially celebratory event this year, with the Group’s centenary in focus, attracted some 1,400 festive shareholders to the Söderslättshallen venue in Trelleborg on April 26. Also presented at the Meeting was the elegant newly-published centenary book written by Agneta Ulfsäter-Troell and Carl Aspegren. Entertainments and the screening of a movie framed the address by CEO Fredrik Arp, who also wove in the historical context when speaking of today’s Group and its business concept – to seal, damp and protect in demanding industrial environments in a global market. In his address, Fredrik Arp commented on operations during 2004, a year that brought favorable growth and the advancement of market positions. He also affirmed the Group’s competitive structure and its well-positioned foundation for the future. Prioritized challenges include increased efforts in new growth markets. Dividend The Meeting resolved to approve the Board and President’s proposal to pay a dividend of SEK 5.00 per share. The record date for the dividend is April 29. It is therefore expected that the dividend will be distributed by VPC on May 4. Board of Directors The Meeting resolved to approve the proposal from shareholders representing approximately 65 percent of the voting rights to reelect Fredrik Arp, Heléne Bergquist, Staffan Bohman, Rolf Kjellman, Berthold Lindqvist, Claes Lindqvist and Anders Narvinger. The Meeting decided that SEK 1,950,000 be paid in fees to the Board, with SEK 700,000 being paid to the Chairman and SEK 250,000 to each of the other Board members who are not employed within the Trelleborg Group. The Meeting determined that the remuneration for assignments in the Audit Committee should be SEK 100,000 for the Chairman and SEK 30,000 each to other members. Nominations Committee The Meeting decided that there shall be a Nominations Committee consisting of representatives for five of the larger shareholders at the close of the third quarter. Individual shareholders in Trelleborg may submit proposals for members of the Nominations Committee, and the composition of the Nominations Committee shall be announced in the Company’s interim report on the third quarter. The Committee must report on its activities at the Annual General Meeting. Authorization for Board to decide on acquisition and transfer of treasury shares The Meeting authorized the Board to decide on the repurchase of not more than a total of 10 percent of the total number of shares in the Company for the purpose of adjusting the Company’s capital structure. This mandate may be utilized on one or more occasions up to the next Annual General Meeting.