The 2012 Annual General Meeting of ASSA ABLOY AB was held on Wednesday the 25 of April at 3:00 pm. 2012, at Moderna Museet, Skeppsholmen, Stockholm, Sweden.
Below the information sent out in the press release after the meeting.
Election of the Board of DirectorsThe Annual General Meeting of ASSA ABLOY AB re-elected Lars Renström, Carl Douglas, Johan Molin, Sven-Christer Nilsson, Birgitta Klasén, Eva Lindqvist and Ulrik Svensson as members of the Board of Directors and elected Jan Svensson as new member of the Board of Directors. Lars Renström was elected new Chairman of the Board of Directors and Carl Douglas was elected Vice Chairman.
Gustaf Douglas was thanked for his contributions after over 17 years as a member of the Board of Directors of ASSA ABLOY AB, including the past six years as Chairman.
DividendThe Annual General Meeting approved the dividend of SEK 4.50 per share proposed by the Board of Directors and the President. The record date for the dividend was set as Monday 30 April 2012 and the dividend is expected to be distributed by Euroclear Sweden AB starting on Friday 4 May 2012.
Remuneration of the Board of DirectorsThe total remuneration of the Board of Directors will amount to SEK 4,600,000, excluding remuneration for committee work.
Nomination CommitteeGustaf Douglas (Investment AB Latour), Mikael Ekdahl (Melker Schörling AB), Liselott Ledin (Alecta), Marianne Nilsson (Swedbank Robur fonder) and Per-Erik Mohlin (SEB Fonder/SEB Trygg Liv) were elected as members of the Nomination Committee up to and including the 2013 Annual General Meeting. Gustaf Douglas was elected Chairman of the Nomination Committee.
Establishment of guidelines for the remuneration of the Executive TeamThe Annual General Meeting resolved to adopt guidelines for the remuneration of senior management, with the main principle that salaries and terms of remuneration for management should be in line with the market.
Authorization to repurchase and transfer Series B shares in the companyThe Annual General Meeting resolved to authorize the Board of Directors to, on one or more occasions, repurchase Series B shares in the company for the period up until the next Annual General Meeting. The repurchase shall maximum comprise so many Series B shares that the company's holding does not at any time exceed 10 per cent of the total number of shares in the company.
Establishment of long term incentive programThe Annual General Meeting resolved to implement a long term incentive program for senior executives and key employees within the ASSA ABLOY Group ("LTI 2012"), in accordance with the proposal of the Board of Directors earlier published.
Repurchase of own sharesAt the statutory meeting of the Board of Directors following the Annual General Meeting, the Board of Directors of ASSA ABLOY AB decided to use the authorization of the Annual General Meeting to repurchase own shares and acquire maximum 300.000 Series B shares in the company. The motive for the repurchase is to financially secure the company's undertakings in connection with LTI 2012.
The shares will be acquired prior to the Annual General Meeting 2013 over NASDAQ OMX Stockholm at a price within the registered share price interval at any given time. Payment of the shares shall be made in cash.
ASSA ABLOY AB already holds 400.000 Series B shares.
For more information please contact:Johan Molin, President and CEO, Tel: +46 8 506 485 42Carolina Dybeck Happe, CFO and Executive Vice President, Tel: +46 8 506 485 72
Published 27 Sep 2011
Tel.:+46 8 506 485 79Mobile: +46 70 555 55 77E-mail Niklas
Tel.: +46 8 506 485 51Mobile: +46 70 564 8571E-mail Hedvig
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