Results of the Millicom AGM and EGM Session
Millicom International Cellular S.A. held important shareholder meetings where significant resolutions were made. The Annual General Meeting (AGM) and the Extraordinary General Meeting (EGM) concluded with unanimous support from shareholders for a variety of proposals made by the Board of Directors.
Directorial Changes and Re-Elections
During the AGM, shareholders reaffirmed their trust by re-electing key members, including María Teresa Arnal, Bruce Churchill, and Blanca Treviño de Vega as Directors, among others. Moreover, Pierre Alain Allemand was brought onboard as a new Director, while Maxime Lombardini was entrusted with the position of Chair of the Board of Directors.
Key Approved Resolutions
Several critical resolutions were approved during the meetings, ensuring steady governance for the company:
- Approval of annual and consolidated accounts for the previous financial year.
- Distribution of dividends set at USD 3 per share, to be issued in four equal installments starting mid-2025.
- Discharge of liabilities for all current and former directors who played a role during the last financial year.
- Continuation of KPMG as the external auditor for Millicom.
- Approval of remuneration for the Board and the external auditors.
- A further Share Repurchase Plan to be executed.
Amendments from the Extraordinary General Meeting
The EGM also approved various amendments to the articles of association, which are designed to streamline operations and align with modern practices:
Summary of Amendments
Key changes from the EGM included:
- Authorization for the Board to annul any repurchased shares.
- Exclusion of requirements linked to the Swedish Corporate Governance Code.
- Restoration of the Chair of the Board's casting vote in the event of ties.
- Flexibility in adopting board resolutions without restrictions based on urgency.
- Facilitating shareholder participation via electronic means in future meetings.
- Full restatement of the company’s Articles of Association to encapsulate these changes.
Next Steps and Communication
As these resolutions pave the path for future growth, Millicom will disclose the minutes from both the AGM and EGM on their official website once available. Stakeholders can expect detailed insights into these pivotal decisions.
Company Profile
Millicom, traded under the ticker symbol TIGO (NASDAQ: TIGO), is a prominent telecommunications provider in Latin America. They deliver a wide array of services under their TIGO® and Tigo Business® brands. Their offerings include mobile financial services through TIGO Money, local entertainment via TIGO Sports, pay TV with TIGO ONEtv, and comprehensive business solutions encompassing data, voice, cloud, and security services. With a workforce nearing 14,000 and services reaching over 46 million users across Latin America, Millicom continues to expand its digital infrastructure.
Contact Information
For additional information, please reach out to the following:
Press Contact:
Sofia Corral, Director Corporate Communications
Email: press@millicom.com
Investor Relations:
Michel Morin, VP Investor Relations
Email: investors@millicom.com
Frequently Asked Questions
What decisions were made during the Millicom AGM?
Key decisions included the re-election of Board members and the approval of dividends and accounts.
Who was elected as the Chair of the Board?
Maxime Lombardini was elected as Chair of the Board of Directors during the AGM.
What was the dividend amount approved for shareholders?
Shareholders will receive a dividend of USD 3 per share, disbursed in four installments.
What changes were made to the articles of association?
Amendments included authorization for share cancellation and electronic participation in meetings.
What is Millicom's core business focus?
Millicom focuses on providing comprehensive telecommunications services, including mobile and fiber-optic broadband, across Latin America.
