Beijer Electronics AB: Report from Annual General Meeting 2011
Beijer Electronics’ Annual General Meeting (AGM) was held on April 27, 2011. The AGM approved all the proposals of the Board of Directors and Nomination Committee. A report on the most important resolutions of the Meeting and its main content follows.
The AGM approved the Income Statement and Balance Sheet for 2010 and discharged the Board members and CEO from liability for the financial year 2010.
In addition, in accordance with the Board of Directors’ proposal, the Meeting approved an ordinary dividend of SEK 6.00 per share. The record date for the dividend was approved as May 2, 2011. The dividend is scheduled for disbursement from Euroclear Sweden AB on May 5, 2011.
The AGM also resolved:
- that the Board of Directors should consist of seven members, without Deputies.
- that fees of SEK 450,000 would be payable to the Chairman of the Board, and fees to each of the other Board members would be SEK 200,000, apart from those that are employees of the company.
- that fees to auditors would be payable according to approved account.
- on the re-election of the Board members Stig-Arne Blom, Bert Åke Eriksson, Ulrika Hagdahl, Anders Ilstam, Maria Khorsand and the company’s CEO Fredrik Jönsson. Joen Magnusson had declined re-election.
- to elect Kjell Åkesson as a new Board member.
- to re-elect Anders Ilstam as Chairman of the Board.
- that the current forms for appointing the Nomination Committee for the AGM 2012 and instructions for the Nomination Committee should also apply for 2011.
- to adopt the Board of Directors’ proposal for guidelines for remunerating senior managers.
- to authorize the Board of Directors to decide on increasing the company’s share capital by a maximum of SEK 622,000 through the new issue of a maximum of 622,000 shares (a maximum of 1,866,000 shares after a completed split, see below) on one or more occasions in the period until the next AGM.
- to approve the Board of Directors’ proposal on a share split so that each current share is divided into three shares (3:1).
- to authorize the Board of Directors to execute the share split on one day in the period June 15 to June 30, 2011.
- to Amend the Articles of Association due to the share split proposed by the Board of Directors, which means a change of the limits of the number of shares in § 5, so that the minimum number of shares shall be 15,000,000 and the maximum number of shares shall be 60,000,000.
- to amend § 3 of the Articles of Association as follows: “the purpose of the Company is to develop and sell products with high technology content, to deliver services in the electronics field and to conduct other associated business” and due to amendments of the Articles of Association, to make the following addendum to § 7: “the assignment as Auditor applies until the end of the Annual General Meeting held in the fourth financial year after the year the Auditor was appointed.”
All the resolutions of the AGM were made with the required majority.
The Board of Directors of Beijer Electronics AB (publ)
Malmö, Sweden, April 27, 2011
For more information, please contact
President and CEO, Fredrik Jönsson,
tel 46 (0)40 35 86 10, mobile 46 (0)705 17 16 26
Corporate Communications, Katarina Erichs Emilson,
tel 46 (0)40 35 84 96, mobile 46 (0)703 35 84 96
Beijer Electronics is a fast-growing technology company with long-term experience of industrial automation and data communications. The company develops and markets competitive products and solutions that focus on the user. Since its start-up in 1981, Beijer Electronics has evolved into a multinational group present in 16 countries and with sales of SEK 1.2 billion in 2010. The company is listed on the NASDAQ OMX Nordic Exchange Stockholm’s Small Cap list with the ticker BELE. www.beijerelectronics.se