The Annual General Meeting of Björn Borg AB was held at 5 pm on 10 April, 2008 in Stockholm.
The Annual General Meeting adopted the income statement and balance sheet, the consolidated income statement and the consolidated balance sheet for the year 2007. The Annual General Meeting resolved a dividend of SEK 1.50 per share.
Directors and auditors
The Annual General Meeting resolved to re-elect the Directors Fredrik Lövstedt, Vilhelm Schottenius, Mats H Nilsson, Håkan Roos, Michael Storåkers, Lottie Svedenstedt and Nils Vinberg, and Fredrik Lövstedt as Chairman of the Board of Directors. The Meeting resolved that the Chairman of the Board is to receive SEK 300,000 and other Directors SEK 100,000 each. The auditors shall be paid fair remuneration as charged.
Issue of warrants in order to form an incentive programme
In order to form a new incentive programme for, at first hand, persons employed by the Björn Borg Group who have not been given the opportunity to participate in previous incentive programs, the Meeting, in accordance with the Board of Directors’ proposal, resolved to issue 500,000 warrants, each entitling the holder to subscribe for one (1) new share in Björn Borg.
Authorization to resolve on new issues of shares, warrants and/or convertibles
In accordance to the Board of Directors’ proposal, the Annual General Meeting, authorized the Board of Directors, until the next Annual General Meeting, on one or several occasions, with or without deviation from the shareholders’ preferential rights, to resolve on new issues of shares, warrants or convertibles. The reasons for deviating from the shareholders’ preferential rights shall be to enable directed share issues for the purpose of acquisitions of complete or part of companies or businesses, alternatively for raising capital to be used for such acquisitions, and to consolidate the company’s financial position when needed.
Authorization to resolve on acquisition and transfer of the company’s own shares
The Annual General Meeting authorized the Board of Directors, until the next Annual General Meeting, on one or several occasions, to resolve on the acquisition and transfer of the company’s own shares to the extent that the shareholding of the company, after such acquisitions, does not exceed ten percent of all the shares in the company. Further, the Meeting authorized the Board of Directors, until the next Annual General Meeting, on one or several occasions, to resolve on transfers of shares in the company to third parties. Transfers may be made of a maximum of so many shares, which the company from time to time possesses. The reasons for the board of directors’ right to deviate from the shareholders’ preferential rights shall be to enable financing of acquisitions of companies and other kinds of strategic investments in a cost-efficient way.
Guidelines for remuneration to the executive management
The Meeting adopted the Board of Directors’ proposal regarding guidelines for remuneration to the executive management, comprising of the managing director and the seven other individuals in the executive management.
The Annual General Meeting approved the nomination committee’s proposal regarding the nomination committee.
For further information, please contact:
Fredrik Lövstedt, the Chairman of the Board, telephone: 0708-59 54 80,