4/10/2017 8:00 AM

Call to attend the 2017 Annual General Meeting of Shareholders in NIBE

The shareholders of NIBE Industrier AB (publ) are hereby invited to attend the Annual General Meeting on Thursday 11 May 2017, at 5.00 p.m. at the company’s premises, NIBE Marknadscenter, Järnvägsgatan 17, in Markaryd.

 

From 2.30 p.m. the shareholders are welcome to visit NIBE Stove’s product exhibition at Skulptörvägen 10 and NIBE Energy Systems’ product exhibition at Marknadscenter in Markaryd, where the company’s product news are presented.

 

Right of attendance

A shareholder has the right to attend the Annual General Meeting if the shareholder is both recorded in its own name in the share register kept on behalf of the company by Euroclear Sweden AB (“Euroclear”) on Friday 5 May 2017, and has registered for attendance of the meeting to the company no later than on Friday 5 May 2017.

 

A shareholder, which has its shares registered in the name of a nominee, must – in addition to reg­istration for attendance – temporarily re-register the shares in its own name at Euroclear. Such a registration shall be made no later than on Friday 5 May 2017. Request for such a registration must be submitted to the nominee in good time before Friday 5 May 2017 in order for the registration to be accomplished.

 

The Annual General Meeting will be held in Swedish.

 

Notification

Notification of attendance at the Annual General Meeting can be made in writing to the following address: NIBE Industrier AB, P.O.Box 14, 285 21 Markaryd, by phone +46 433/730 00, by e-mail info@nibe.se or by the homepage www.nibe.com.

 

When submitting notification of attendance please state name, personal identity number/corporate identity number, address and telephone number, number of shares and class of shares as well as number of advisors.

 

A shareholder which is represented by a representative, should forward a written and dated proxy together with the notification. The proxy may at the time of the meeting not be older than one year if a longer period of validity is not stated in the proxy, however not longer than five years from the date of issue of the proxy. For this purpose the company provides the shareholders with a proxy form on the company’s home page www.nibe.com. The proxy form can also be ordered by phone or by e-mail as described above. A person representing a legal entity shall present a certificate of registration or a corresponding document of qualification showing person(s) authorized to sign for the legal entity. As a confirmation of the notification of attendance NIBE Industrier AB will send an admission card which shall be brought to the meeting and shown at the recording.

 

Proposed agenda

  1. Opening of the meeting.
  2. Election of chairman at the meeting.
  3. Preparation and approval of a voting list.
  4. Approval of the board of directors’ proposed agenda.
  5. Election of one or two persons to verify the minutes.
  6. Examination if the meeting has been properly convened.
  7. The managing director’s statement.
  8. Presentation of the annual report and the auditor’s report, the group financial statement and the group auditor’s report as well as the auditor’s statement concerning the application of the guiding principles for remuneration to executive employees decided at the Annual General Meeting 2016.
  9. Resolution in respect of
  10. a) adoption of the income statement and the balance sheet as well as the consolidated income statement and the consolidated bal­ance sheet,
  11. b) allocation of the company’s profit according to the adopted balance sheet and adop­tion of record day for dividend,
  12. c) discharge from liability of the board members and the managing director.
  13. Determination of the number of board members and deputy board members to be elected by the meeting.
  14. Determination of the number of auditors and deputy auditors or registered public accounting firms.
  15. Determination of fees to the board of directors, board members and the auditors.
  16. Election of board members, chairman of the board and deputy board members, if any.
  17. Election of auditors and deputy auditors, if any, or registered public accounting firms.
  18. Resolution in respect of the board of directors’ proposal to authorize the board of directors to decide on issue of new shares in connection with acquisitions of companies/business.
  19. Resolution in respect of guiding principles for remuneration and other terms of employment for executive employees.
  20. Other matters to be dealt with at the meeting pursuant to the Swedish Compa­nies Act (2005:551) or the articles of association.
  21. Closing of the meeting.

Proposed decisions

Shareholders, which together represent more than 50% of the number of votes for all shares in the company, have notified the company that they support the proposals under items 2, 10, 11, 12, 13, 14, 15 and 16.

 

2 Proposal for election of chairman at the Annual General Meeting

It is proposed that Hans Linnarson shall be chairman at the Annual General Meeting.

 

9 Dividend

The board of directors and the managing director propose to the Annual General Meeting to distri­bute to the shareholders 0.88 SEK per share for the financial year 2016. Monday 15 May 2017 is pro­posed as record day for the dividend. If the Annual General Meeting decides in accordance with the proposal, it is estimated that the dividend will be distributed by Euroclear on Thursday 18 May 2017.

 

10 Proposal for number of board members and deputy board members

It is proposed that the number of board members shall be six, without deputies.

 

11 Proposal for number of auditors and deputy auditors or registered public accounting firms

It is proposed that a registered public accounting firm is appointed.

 

12 Proposal for fees to the board members and the auditors

It is proposed that fees to the board of directors shall be paid with a total amount of 1,950,000 SEK, of which 650,000 SEK to the chairman of the board and 325,000 SEK to each one of the other board members elected by the general meeting, who are not employed in the group. It is proposed that fees to the auditors shall be paid in accordance with approved invoices.

 

13 Proposal for election of board members and chairman of the board

It is proposed that the following board members are re-elected as board members: Georg Brunstam, Eva-Lotta Kraft, Gerteric Lindquist, Hans Linnarson, Anders Pålsson and Helene Richmond. It is pro­posed that Hans Linnarson is re-elected as chairman of the board.

 

14 Proposal for election of auditors and deputy auditors, if any, or registered public accounting firms

For the period up to the end of the Annual General Meeting 2018 it is proposed that KPMG AB is elected as registered public accounting firm. KPMG AB has announced that if the Annual General Meeting is voting in accordance with the proposal, KPMG AB will appoint authorized public accountant Dan Kjellqvist as audi­tor in charge.

 

15 The board of directors’ proposal to authorize the board of directors to decide on an issue of new shares in connection with acquisitions of companies/business

The board of directors of NIBE Industrier AB (publ) proposes that the Annual General Meeting decides to authorize the board of directors to decide, on one or several occasions during the time up to the next Annual General Meeting, with or without deviation from the shareholders’ preferential rights, on issue of new shares of class B in the company. The authorization shall also include right to decide on issue of shares with provision stating payment with non-cash consideration, that shares may be subscribed for with right of set-off or otherwise with conditions referred to in Chapter 13 § 5 first paragraph 6 of the Swedish Companies Act. Share issue may only be decided if it concerns financing of acquisition of companies, part of a company or businesses. The authorization does not include a right for the board of directors to decide on cash issues with deviation from the shareholders’ preferential right. The authorization shall be limited to a total issue of shares corresponding to a maximum of 10% of the total number of outstanding shares at the time of the Annual General Meeting.

 

Further, the board of directors proposes that the Annual General Meeting decides that the managing director, or anyone authorized by the managing director, shall have the right to make such minor ad­justments of the meeting’s decision that may be necessary in connection with the registration with the Swedish Companies Registration Office and Euroclear respectively or due to other formal demands.

 

For a valid decision of the meeting in accordance with the board of directors’ proposal as above it is required that the decision is seconded by shareholders representing at least two thirds of the casted votes as well as of the shares represented at the meeting.

 

16 The board of directors’ proposal for guiding principles for remuneration and other terms of employment to executive employees

The board of directors proposes that the company shall offer remuneration on market terms and be competitive in order to attract and keep personnel.

 

It shall be possible to pay the remuneration as fixed salary, variable salary, pension or other bene­fits such as company car.

 

Fees to the board of directors shall not be paid to board members, who are employed in the group.

 

The term of notice on the part of the company for the managing director shall be six months. The managing director shall be entitled to severance payment corresponding to twelve monthly salaries. Other executive employees shall be paid salary during the term of notice, which varies between 6-12 months.

 

There shall be no special agreement stating that executive employees may terminate their employ­ment before they have reached the official retirement age and until then receive a certain part of their salary.

 

All executive employees shall have retirement benefits corresponding to the defined benefit ITP-plan (supplementary pensions for salaried employees) (SW: ITP-planen), section 2, for salary parts up to 30 income base amounts (SW:inkomstbasbelopp). For salary parts exceeding 30 income base amounts a premium with a fixed percentage of 30% shall be paid, in accordance with the same principles as in the ITP-plan with fixed premium, section 1.

 

Executive employees shall as incentive be able to have a variable salary part which is paid if the goals that have been set up are met. The variable salary shall be limited to four monthly salaries. In addi­tion thereto, an extra monthly salary may be paid as remuneration provided that the executive em­ployee uses this extra remuneration and an additional monthly salary of his/hers variable re­munera­tion for acquisition of NIBE-shares. A condition for the extra remuneration is that the executive em­ployee keeps the annually acquired NIBE-shares for at least three years. Normally, the executive em­ployee’s acquisition of NIBE-shares will be made once a year in February/March and then with application of the insider rules in force. The managing director shall not be included in any incentive program.

 

The board of directors may deviate from the guidelines if there are particular grounds therefor in an individual case.

 

Miscellaneous

The annual report and the auditor’s report, the board of directors’ statement accord­ing to Chapter 18 § 4 of the Swedish Companies Act regarding proposal for dividend, the board of directors’ com­plete proposal for decision concerning items 15 and 16, the audi­tor’s statement according to Chapter 8 § 54 of the Swedish Companies Act and other docu­ments will be kept available for the shareholders at the company’s premises in Markaryd and on the company’s home page, www.nibe.com, as from 20 April 2017 and will be sent to shareholders re­questing it and stating their address. The board of directors’ statement according to Chapter 18 § 4 of the Swedish Companies Act regarding proposal for dividend can also be seen from the administration report in the annual report.

 

The shareholders are informed of their right to request information at the Annual General Meeting concerning conditions that may have an effect on the judgement of a matter on the agenda and con­ditions that may have an effect on the judgement of the company’s financial position.

 

At the time of execution of this notice the total number of shares in the company amounts to 504,016,622, of which 59,132,590 shares of class A and 444,884,032 shares of class B. The total num­ber of votes in the company amounts to 1,036,209,932.

 

Markaryd in April 2017

NIBE Industrier AB (publ)

The Board

 

NIBE Industrier AB is required to disclose the information in this press release under the Market Abuse Regulation and NASDAQ Stockholm’s rules and regulations for issuers. The information was submitted through Benny Torstensson for publication on 10 April 2017 at 08:00 CET.

Benny Torstensson Information Manager, Tel. +46 (0)433 - 73 000


NIBE – a Global Group with sales
and operations on five continents.



NIBE Industrier AB (publ)

Box 14, 285 21 Markaryd

Visiting Address
Hannabadsvägen 5, Markaryd

+46 (0)433–73 000
info@nibe.com