KappAhl bulletin from Annual General Meeting 2013 KappAhl

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Dec 4, 2013 at 6:45 AM

KappAhl bulletin from Annual General Meeting 2013

KappAhl AB (publ) held its Annual General Meeting on Wednesday 4 December 2013 in Mölndal. The following resolutions were passed at the Meeting: · No dividend · Resolution on adoption of the accounts and discharge from liability · Re-election of four Board members including Chairman of the Board and new election of Pia Rudengren as member of the Board · Instructions for the Nominations Committee · Remuneration policy for company management proposals made available to the shareholders before the Annual General Meeting. Resolution on adoption of the accounts and discharge from liability The income statement and balance sheet and consolidated income statement and balance sheet were adopted and the meeting discharged the Board of Directors and Chief Executive Officer from liability for the financial year. Resolution regarding dividend The Annual General Meeting resolved on that no dividend is to be distributed for 2012/2013, and that the profit of SEK 2,102,388,287 is carried forward. Determination of fees to the Board of Directors and the Auditor The meeting resolved that the fee to the Board of Directors and its committees shall be SEK 1,360,000 (unchanged since previous year). The resolution means that the Chairman of the Board is awarded SEK 360,000, that each other elected member of the Board is awarded SEK 180,000, that the chairman of the Audit Committee is awarded SEK 145,000 that one other member of the Audit Committee is awarded SEK 95,000, that the chairman of the Remuneration Committee is awarded SEK 30,000 and that one other member of the Remuneration Committee is awarded SEK 10,000. It was resolved that the fee to the accounting firm shall be unchanged in accordance with customary standards and approved invoice. Re-election and election of the Board of Directors Four ordinary members of the Board, including Chairman of the Board, were re -elected in accordance with the recommendation of the Nominations Committee. The Annual General Meeting elected Pia Rudengren as ordinary member of the Board. Consequently, the members of the Board of Directors elected by the Annual General Meeting are Amelia Adamo, Anders Bülow (Chairman), Paul Frankenius, Christian W. Jansson and Pia Rudengren. Election of accounting firm Ernst & Young AB was re-elected as accounting firm and it was resolved that engagement will run until the next Annual General Meeting. Instructions for the Nominations Committee The Nominations Committee’s proposed instructions and rules of procedure for the Nominations Committee were adopted. The Nominations Committee shall consist of four ordinary members, who shall be appointed by the four largest shareholders as of April 30. The term largest shareholders refers to shareholders registered with Euroclear Sweden AB and grouped by ownership as of April 30. Remuneration policy for company management The meeting adopted the Board's proposed remuneration policy for the management team. The policy implies that a bonus of a maximum of 50 per cent of fixed salary can be payable. The remuneration policy is substantially the same as the one adopted by the previous Annual General Meeting. All the resolutions of the Annual General Meeting were passed with the requisite majority. The English text is an unofficial translation. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail. For further information contact Johan Åberg, President and CEO, phone +46 706 09 99 73, johan.aberg@kappahl.com Anders Düring, Chief Financial Officer, phone +46 708 88 77 33, anders.during@kappahl.com For company information and photos contact Charlotte Högberg, Head Public Relations. Tel. +46 704 71 56 31, charlotte.hogberg@kappahl.com KappAhl, founded in 1953, is one of the Nordic region’s leading fashion retailers with close to 400 stores in Sweden, Norway, Finland and Poland, and Shop Online. KappAhl offers value-for-money fashion of its own design to the many people – men, women and children, with a special focus on women in the prime of life. KappAhl was the world’s first fashion retailer to gain environmental certification in 1999. In 2012/2013, sales were SEK 4.8 billion and the number of employees approximately 4,500. KappAhl is quoted on Nasdaq OMX Stockholm. For more information, go to www.kappahl.com. KappAhl AB (publ) discloses the information provided here pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on 4 December, 2013 at 12.30 pm.

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