4/13/2016 9:30 AM
The Annual General Meeting of Shareholders in NIBE Industrier AB took place on Thursday 12 May 2016 in Markaryd, Sweden, where the parent company is headquartered.
ust over 600 people attended the AGM at NIBE’s Marketing Centre in Markaryd, which was packed with a lively audience. As usual, the meeting was opened and closed with music and the presentation of the NIBE Entrepreneur Award scholarship.
Gerteric Lindquist, MD and Group CEO, gave a speech in which he commented on performance in 2015 and the start of 2016. His presentation covered both the Group and its three business areas. Gerteric Lindquist described NIBE’s increasingly extensive internationalisation, explained the importance of continual product development and emphasised the need to maintain the factors that have formed the basis of the Group’s success so far.
The decisions reached by the AGM included the following:
The AGM approved the Board’s proposal to pay a dividend of SEK 3.35 per share. The record date for the payment of the dividend is 16 May 2016.
Members of the Board
Re-elected to the board were Georg Brunstam, Gerteric Lindquist, Hans Linnarson, Eva-Lotta Kraft, Anders Pålsson and Helene Richmond. Hans Linnarson was re-elected as the Chairman of the Board.
KPMG AB was elected as the company’s auditor for the period until the 2017 AGM, with authorised public accountant Dan Kjellqvist appointed as principal auditor.
Amendment of the Articles of Association due to share split
The AGM approved the Board’s proposal to reduce the quotient value of the shares through a split, which will entail a reduction from 62.5 öre to 15.625 öre, while the number of shares in the company increases four-fold. The record date for the share split is expected to be 30 May 2016. This means that section 5 of the Articles of Association will be changed to state the following: The number of shares shall be no less than two hundred fifty-six million (256,000,000) and no more than five hundred twelve million (512,000,000).
Mandate for the Board to decide on a new share issue in conjunction with corporate acquisitions
The AGM approved the Board’s proposal to authorise the Board to decide on the issue of new class B shares in conjunction with the company’s acquisition of other companies or business operations. This mandate does not include the right for the Board to decide on a cash issue without regard to the shareholders’ preferential rights. This mandate is restricted to a maximum of 10% of the number of shares issued at the time of the AGM.
Guidelines on remuneration and other terms of employment for senior executives
The AGM approved the Board’s proposal that, in addition to generally accepted employment terms, senior executives shall, as an incentive, be entitled to a variable salary component that is payable if set targets are achieved. The variable component will be restricted to three months’ salary. The possibility also exists to receive an additional month’s salary on condition that this additional payment plus another monthly salary paid as a variable bonus is used to purchase NIBE shares. A further condition for entitlement to receive this additional month’s remuneration is that the shares thus purchased are retained for at least three years. Under normal circumstances, shares acquired in this way shall be purchased on one occasion each year in February/March and the purchase shall be subject to the relevant insider trading regulations. No incentive programme is offered to the CEO.
Benny Torstensson, CIO: +46 433-73 70
Christel Fritiofsson, Investor Relations: +46 433-73 078
NIBE Industrier AB (publ) Box 14, 285 21 Markaryd · VISITING ADDRESS Hannabadsvägen 5, Markaryd · email@example.com · +46 (0)433 27 30 00