STOCKHOLM, SWEDEN--(Marketwired - Apr 9, 2013) - Telefonaktiebolaget LM Ericsson's Annual
General Meeting ("AGM") was held on
April 9, 2013 in Stockholm.
Dividend
The proposed dividend of SEK 2.75 per share was approved by the AGM. The
record
day for dividend was set to Friday, April 12, 2013. Payment from Euroclear
Sweden AB is expected to take place on Wednesday, April 17, 2013.
Adoption of the Profit and Loss Statements and the Balance Sheets
The AGM resolved to adopt the Profit and Loss Statement and the Balance
Sheet
for the Parent Company as well as the Consolidated Profit and Loss
Statement and
the Consolidated Balance Sheet for the Group for 2012. The members of the
Board
of Directors and the President were discharged from liability for the
fiscal
year 2012.
Board of Directors
In accordance with the proposal of the Nomination Committee, Leif Johansson
was
reelected Chairman of the Board of Directors. Roxanne S. Austin, Sir Peter
L.
Bonfield, Börje Ekholm, Alexander Izosimov, Ulf J. Johansson, Sverker
Martin-Löf, Hans Vestberg and Jacob Wallenberg were
re-elected to the Board and Nora
Denzel, Kristin Skogen Lund and Pär Östberg were elected new
members of the
Board of Directors.
Board of Directors' Fees
The AGM resolved, in accordance with the Nomination Committee's proposal,
on a
yearly fee to the Chairman of the Board of SEK 3,850,000 (previously
SEK 3,750,000), and fees to non-employed members of the Board, elected by
the
AGM, of SEK 900,000 each (previously SEK 875,000 each). Fees for Committee
work
to non-employed members of the Committees, elected by the AGM, were
approved as
follows (unchanged); SEK 350,000 to the Chairman of the Audit Committee and
SEK 250,000 to each of the other members of the Audit Committee, SEK
200,000 to
each of the Chairmen of the Finance and Remuneration Committee and SEK
175,000
to each of the other members of the Finance and Remuneration Committee.
The AGM approved the Nomination Committee's proposal to enable payment of
part
of the fees to the members of the Board for the Board assignment, in the
form of
synthetic shares.
Auditor
The AGM elected PricewaterhouseCoopers AB auditor for the period up until
the
end of the AGM 2014.
Guidelines for Remuneration to Group Management
In accordance with the Board of Directors' proposal, the AGM resolved to
approve
the Guidelines for remuneration to Group Management.
Long-Term Variable Remuneration Program (LTV)
In accordance with the Board of Directors' proposals, the AGM resolved as
follows:
LTV 2013 and transfer of treasury stock
* Implementation of LTV 2013, with the same structure as previous
programs.
The program comprises in total up to 32.2 million B shares and includes
the
Stock Purchase Plan for all employees, the Key Contributor Retention
Plan
and the Executive Performance Stock Plan. All plans are based on the
employees' own investment in Ericsson shares. If the shares are
retained for
a period of three years and the employment remains, the participants
obtain
matching shares from the company. The following performance criteria
were
resolved for the Executive Performance Stock Plan 2013; net sales
compound
annual growth rate between 2 and 8 percent (2012-2015), operating
income
compound annual growth rate between 5 and 15 percent (2012- 2015), and
cash
conversion at or above 70 percent annually (2013, 2014 and 2015).
* Transfer of up to 26.6 million B shares during the period November 2013
up
to and including November 2017, free of consideration, to employees
covered
by the terms of the LTV 2013.
* Transfer of up to 5.6 million B shares on NASDAQ OMX Stockholm, prior
to the
AGM 2014, at a price within the at each time prevailing price interval
for
the share, to cover certain expenses, mainly social security charges.
The Company has approximately 3.3 billion shares in issue. As per today,
the
Company holds approximately 82,193,250 million shares in treasury. The 32.2
million B shares allocated for LTV 2013 now correspond to approximately 1
percent of the total number of outstanding shares.
Transfer of treasury stock for previously resolved LTV programs
* Transfer of approximately 17.7 million B shares on NASDAQ OMX Stockholm
prior to the AGM 2014 to cover certain expenses, mainly social security
charges, which may occur in relation to the Long-Term Variable
Remuneration
Programs 2009, 2010, 2011 and 2012.
Proposal to amend the articles of association
The AGM resolved not to approve Carl Axel Bruno's proposal to add wording
to the
articles of association that at least one fourth of the Board members shall
be
men and at least one fourth of the Board members shall be women.
Proposal on voting rights
The AGM resolved not to approve Einar Hellbom's proposal to delegate to the
Board of Directors to review and present to the next AGM how the shares are
to
be given equal voting rights.
Resolution on delegations to the Board of Directors
The AGM resolved not to approve the proposals from Thorwald Arvidsson to
delegate to the Board to take action to create a shareholders' association
in
the company, to write to the Government of Sweden, requesting a commission
to
investigate changed legislation regarding abolishment of voting power
differences, and to prepare a proposal regarding Board representation for
small
and midsize shareholders.
NOTES TO EDITORS
Download high-resolution photos and
broadcast-quality video at
www.ericsson.com/press
Ericsson is a world-leading provider of communications technology and
services.
We are enabling the Networked Society with efficient real-time solutions
that
allow us all to study, work and live our lives more freely, in sustainable
societies around the world.
Our offering comprises services, software and infrastructure within
Information
and Communications Technology for telecom operators and other industries.
Today
40 percent of the world's mobile traffic goes through Ericsson networks and
we
support customers' networks servicing more than 2.5 billion subscriptions.
We are more than 110,000 people working with customers in more than 180
countries. Founded in 1876, Ericsson is headquartered in Stockholm, Sweden.
In
2012 the company's net sales were SEK 227.8 billion (USD 33.8 billion).
Ericsson
is listed on NASDAQ OMX, Stockholm and NASDAQ, New York stock exchanges.
www.ericsson.com
www.ericsson.com/news
www.twitter.com/ericssonpress
www.facebook.com/ericsson
www.youtube.com/ericssonpress
Ericsson's Annual General Meeting 2013:
http://hugin.info/1061/R/1691597/555553.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ericsson via Thomson Reuters ONE
[HUG#1691597]
FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Communications
Phone: +46 10 719 69 92
E-mail: Email Contact
Ericsson Investor Relations
Phone: +46 10 719 00 00
E-mail: Email Contact
View More
View More
test123 kjk
