Gothenburg, Sweden, 2017-04-19 12:56 CEST (GLOBE NEWSWIRE) --
Today’s Annual General Meeting passed the following resolutions:
- Dividend set at SEK 8 per share
- Board, Chairman and public accounting firm re-elected
- Resolution passed approving 2-for-1 stock split
- Board given renewed mandate to resolve on buy-back/transfer of shares
- New Articles of Association adopted with adjusted limits for number of shares and share capital
- Unchanged guidelines for remuneration to Group Management adopted
Accounts and dividend
After adopting the Income Statement and Balance Sheet and the Consolidated Income Statement and Consolidated Balance Sheet, the AGM adopted the proposed cash dividend of SEK 8 per share (7.50). The record date was set at 21 April 2017 and the dividend is expected to be distributed through Euroclear on 26 April. The remaining earnings were carried forward to a new account.
Discharge from liability and re-election of Board of Directors and public accounting firm
The AGM discharged the members of the Board and the Managing Director from liability for the financial year. The AGM resolved to re-elect Ingrid Jonasson Blank, Eva Cederbalk, Anna Engebretsen, Jack Forsgren, Laila Freivalds, Mats Holgerson, Gustav Lindner, Jan Pettersson, Mats Qviberg and Jon Risfelt. The AGM also re-elected Mats Qviberg as Chairman. After the meeting, the Board once again appointed Jan Pettersson as Deputy Chairman.
The AGM resolved that the directors’ fees should be as follows: the Chairman and the Deputy Chairman of the Board receive SEK 335,000 each, other Board members receive SEK 210,000 each, the chairman of the Audit Committee receives SEK 80,000, the members of the Audit Committee receive SEK 40,000 each, the chairman of the Compensation Committee receives SEK 25,000 and the members of the Compensation Committee receive SEK 10,000 each. The above entails fee increases of SEK 15,000 each for the Chairman and Deputy Chairman, SEK 10,000 each for the other Board members and SEK 5,000 each for the members of the Audit Committee, and no change for the Compensation Committee.
KPMG AB was re-elected as the public accounting firm for the period up until the next AGM in 2018.
2:1 stock split
The AGM passed a resolution to divide the company’s outstanding shares so that each existing share is split into 2 new shares. The record date for the stock split was set at 7 June 2017. Shareholders do not have to take any action to participate in the stock split.
New Articles of Association
New Articles of Association were adopted with adjusted limits for number of shares and share capital, an additional location for the General Meeting of Shareholders and some minor corrections.
Guidelines for remuneration to Group Management
Proposed guidelines for remuneration to the Group Management were adopted by the AGM. The guidelines are virtually unchanged from last year.
Acquisition or transfer of own shares
The AGM authorised the Board of Directors to a) resolve to buy back the company’s own shares, whereby Bilia’s holding may never exceed 10% of the total number of shares at any given time, and b) resolve to transfer acquired shares, either as a means of payment in conjunction with an acquisition or by direct sale on the stock exchange.
Gothenburg, 19 April 2017
Bilia AB (publ)
For further information, please contact CEO Per Avander or CFO Gunnar Blomkvist, Bilia AB, tel: +46 31 709 55 00.
