Report from the Annual General Meeting of Beijer Electronics Group AB (publ)
Beijer Electronics Group’s Annual General Meeting for the financial year 2018 was held on Wednesday May 8, 2019. The AGM adopted all resolutions as earlier proposed by the Board of Directors and the Nomination Committee. A summary of the most important resolutions and a summary of the Annual General Meeting follows.
The AGM approved the presented Income Statement and Balance Sheet and the Consolidated Income Statement and Consolidated Balance Sheet. The Board members and Chief Executive Officer were discharged from liability.
The AGM decided, according to the proposal of the Board of Directors, on ordinary dividends of SEK 0.50 per share for the financial year2018.The proposed record date for dividends shall be May 10, 2019. Dividends are scheduled for disbursement from Euroclear Sweden AB on May 15, 2019.
In his address to the Meeting, Beijer Electronics Group’s CEO Per Samuelsson presented the operations and the development of the business of Beijer Electronics Group for 2018 and first quarter 2019.
The AGM also resolved:
- to elect Bo Elisson as Chairman of the Meeting.
- that the Board of Directors shall consist of five members, without deputies.
- that fees of SEK 500,000 shall be paid to the Chairman of the Board and that fees of SEK 225,000 shall be paid to each of the other Board members.
- that fees of SEK 75,000 will be payable to the Chairman of the Board for work in the audit committee, and that fees of SEK 50,000 will be payable to each of the other Board members of the committee.
- that fees of SEK 50,000 will be payable to the Chairman of the Board for work in the remuneration committee, and that fees of SEK 30,000 will be payable to each of the other Board members of the committee.
- that fees to Auditors shall be paid according to approved account.
- to re-elect Bo Elisson, Ulrika Hagdahl, Johan Wester, Karin Gunnarsson and Lars Eklöf as Board members.
- to elect Bo Elisson as Chairman of the Board.
- to appoint the registered public accounting firm Öhrlings PricewaterhouseCoopers AB, Malmö, as the company´s auditor for the period until the close of the AGM 2020.
- to adopt the proposed instruction for the Nomination Committee, according to the proposal by the Nomination Committee.
- to adopt the remuneration guidelines for senior managers according to the Board of Directors’ proposal.
- to authorize the Board of Directors to decide to increase the company’s share capital by a maximum of 2,860,137 ordinary shares on one or more occasions before the next AGM.
- to implement a long-term share based incentive program for 2019 (LTI 2019/2022) that comprises not more than 20 employees within the Beijer Electronics Group. The resolution also included decisions on authorization for the Board of Directors to resolve decisions on a directed issue of series C shares, authorization for the Board of Directors to repurchase all issued series C shares and transfer of own ordinary shares to participants in LTI 2019/2022.
- to resolve on a change of the Articles of Association meaning that the Board of Directors shall consist of not less than four members and not more than seven members.
All resolutions were passed with the requisite majority.
The Board of Directors
Beijer Electronics Group AB (publ)
Malmö, Sweden, May 8, 2019
Beijer Electronics Group is a high-tech innovator active in smart automation and networks. The Group’s open software, hardware and IIoT solutions help customers optimize processes and create reliable secure communication, complete with leading-edge user experiences. Since its start-up in 1981, Beijer Electronics Group has evolved into a multinational group with sales 1.4 billion SEK 2018.
The company is listed on the NASDAQ OMX Nordic Exchange Stockholm’s Small Cap list under the ticker BELE. www.beijergroup.com