The Annual General Meeting adopted the income statement and balance sheet, the consolidated income statement and the consolidated balance sheet for the year 2008. 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, Mats H Nilsson, Vilhelm Schottenius, Michael Storåkers and Nils Vinberg. Monica Elling and Fabian Månsson was elected new Directors. The Meeting resolved to re-elect Fredrik Lövstedt as Chairman of the Board of Directors. Further the Meeting resolved that the Chairman of the Board is to receive SEK 300,000 (no change from previous year) and other Directors SEK 100,000 each (no change from previous year). No special remuneration is to be paid for work in the board committees. The auditors shall be paid fair remuneration as charged.
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, to resolve on new issues of shares, warrants or convertibles on one or several occasions, with or without deviation from the shareholders’ preferential rights. 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, to resolve on the acquisition and transfer of the company’s own shares, on one or several occasions, 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 to resolve on transfers of shares in the company to third parties on one or several occasions. 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 any 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 other individuals in the executive management.
Amendments to the articles of association
The Meeting adopted the proposal of the Board of Directors of amendments to the articles of associations, regarding the notice period for and means of convening general meetings. The amendment shall be subject to the entering into force of amendments to the Swedish Companies Act regarding means of and notice period for convening general meetings. The Meeting also resolved to amend the object of the company’s business in the articles of associations in order to adjust it to better fit the business concept and business of the company.
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,
Björn Borg is required to make public the information in this press release in accordance with the Securities Market Act. The information was released for publication on April 24, 2009 at 08.00 a.m. (CET).