Report from the Annual General Meeting of Beijer Electronics AB (publ)
The Annual General Meeting (AGM) of Beijer Electronics for the financial year 2011 was held on April 25, 2012. A report on the most important resolutions of the Meeting and its content follows.
The AGM approved the Income Statement and Balance Sheet and the Consolidated Income Statement and Consolidated Balance Sheet presented to the Meeting. The Board members and Chief Executive Officer were discharged from liability.
The Meeting approved the Board of Directors’ proposed dividend of SEK 2.25 per share for the financial year 2011. The record date for dividends was resolved as April 30, 2012. The dividend is scheduled for payment from Euroclear Sweden AB on May 4, 2012.
In his address to the Meeting, Beijer Electronics’ CEO Fredrik Jönsson reported on the financial year 2011 and progress in the first quarter of 2012. The CEO concluded that 2011 was the group’s best year to date. Sales and profits in the first quarter of 2012 were lower than the previous year, as previously reported, but the CEO was also able to conclude that results were better than original estimates, and that order intake had started to increase again.
The Meeting also resolved:
- To elect Anders Ilstam as Chairman of the Meeting.
- That the Board of Directors should consist of six members without deputies.
- That fees to the Chairman of the Board of SEK 450,000 would be payable and that fees to each of the other Board members would be SEK 200,000, apart from those employed by the company.
- That fees to auditors would be paid according to approved account.
- To re-elect Stig-Arne Blom, Bert Åke Eriksson, Ulrika Hagdahl, Maria Khorsand, Anders Ilstam and the company’s CEO Fredrik Jönsson.
- To re-elect Anders Ilstam as Chairman of the Board.
- To appoint authorized audit firm PricewaterhouseCoopers, Malmö, as auditor for the period until the end of the AGM 2016.
- That the current method for appointing a nomination committee for the AGM 2013 and instructions for the Nomination Committee shall also apply for 2012.
- To adopt the Board of Directors' proposed principles for remuneration to senior executives.
- To authorize the Board of Directors to decide to increase the company’s share capital by a maximum of SEK 624,690 through the new issue of a maximum of 1,893,000 shares in the period until the next AGM.
- To authorize the company’s Chief Executive Officer to make minor adjustments to AGM resolutions that may prove necessary in tandem with registering the resolution at the Swedish Companies Registration Office.
The Board of Directors
Beijer Electronics AB (publ)
Malmö, Sweden, April 25, 2012
For more information please contact:
President and CEO, Fredrik Jönsson, tel 46 (0)40 35 86 10, mobile 46 (0)705 17 16 26
CFO, Anna Belfrage, tel 46 (0)40 35 86 53, mobile 46 (0)706 35 86 53
Beijer Electronics is a fast growing technology company with extensive experience of industrial automation and robust data communication. The company develops and markets competitive products and solutions with focus on the user. Since its start-up in 1981, Beijer Electronics has evolved into a multinational group with offices in 21 countries and sales of 1.4 billion SEK in 2011. Beijer Electronics is listed on the NASDAQ OMX Nordic Exchange Stockholm’s Small Cap list under the ticker BELE. www.beijerelectronics.se