Report from the AGM of ProfilGruppen AB
Around 130 shareholders and guests attended today’s Annual General Meeting at Folkets Hus in Åseda. The meeting was chaired by Kåre Wetterberg.
CEO summarized the year of 2016
CEO Per Thorsell gave a summary of last year’s events and success. Per informed about the market for aluminum profiles, both in Europe and Sweden. He gave examples of new customers and products. Finally, he reviewed the financial development for the past year.
Summary of the CEO’s speech and verified minutes from the meeting will be published on the company’s website
Decisions of the Annual General Meeting
The income statement and balance sheet as well as the consolidated income statement and the consolidated balance sheet for the 2016 financial year were adopted.
For the 2016 financial year, the Board decided a dividend of SEK 3.00 per share (previous year SEK 0 per share). The cut-off date for the dividend will be 27 April 2017. The dividend payment through Euroclear Sweden AB is expected to be made 3 May 2017.
Election of the Board and auditor
The following Board members were reelected; Bengt Stillström, Thomas Widstrand, Mats Egeholm and Kåre Wetterberg. New election by Monica Bellgran and at the same time Susanna Hilleskog was dismissed. Kåre Wetterberg was elected as Chairman.
The Company’s auditor, Ernst & Young AB, with Franz Lindström as auditor in charge, was reelected for the coming year.
The Annual General Meeting decided on fees for Board members in accordance with the nomination committees proposals. Hence, fees will be paid as follows:
To the Chairman SEK 365,000.
To other Board members elected in the meeting not employed by the company SEK 150,000 each.
The remuneration- and audit committees are included in the Board’s tasks and no additional fees will be awarded. No fees will be paid to Board Members and deputies elected by the employees.
Remuneration for auditors was decided in accordance with approved invoices.
Decision on the nomination committee for the AGM 2018
The Annual General Meeting approved the proposal from the nomination committee on the procedural issues regarding how the new nomination committee is to be appointed and regarding its duties for the Annual General Meeting 2018.
Authorisation for the Board to decide on new issues of shares
The Annual General Meeting granted the Board authorisation, during the period until the next Annual General Meeting, on one or more occasions, with or without preferential rights for the shareholders, to make decisions regarding new issues of maximum 700,000 shares, corresponding to in total approximately 9.5 percent of the share capital. The decision on new issue may contain conditions stating that the shares issued may be paid by issue in kind, offsetting or otherwise under conditions in accordance to the Swedish Companies Act 13 chapter 5§ first paragraph 6. The Board is authorised also to decide on the other terms of a new issue of shares.
The reason for the authorisation is to enable the company to issue shares as payment for acquisitions of companies or shares of companies and/or assets, which the Board deems to be of value to the ProfilGruppen group’s activities, or in order to strengthen the company’s capital position.
Guidelines for remuneration for senior executives
The AGM decided on guidelines for remuneration for senior executives according to the proposal of the Board. No essential changes of the principles compared to last year was decided.
Minutes from the AGM
Verified minutes from the AGM will be published on the Group’s website.
The interim report for the second quarter will be submitted on 18 July 2017, 14.00 CET. Dates for the release of financial information are available on the Group’s website.
Åseda, April 25, 2017
Board of ProfilGruppen AB (publ.)
Corporate ID no. 556277-8943
For more information, please contact:
Per Thorsell, CEO
Mobile: +46 (0)70-240 78 40
Kåre Wetterberg, chairman of the Board
Mobile: +46 (0)70-656 40 14
Report from the AGM of ProfilGruppen AB