Bulletin from the Annual General Meeting of Husqvarna AB (publ)
STOCKHOLM, Sweden -- April 11, 2013
The AGM of Husqvarna AB (publ) was held on April 11, 2013 in Jönköping.
Adoption of the profit and loss statements and balance sheets, dividend and
discharge of liability The Profit and Loss statements and Balance Sheets were
adopted, together with the Board of Directors’ proposal for dealing with the
Company’s profit. The dividend was set at SEK 1.50 per share. The record date
for the dividend was set at April 16, 2013 and the estimated date for the
payment of the dividend is April 19, 2013. The Board of Directors and the
President were discharged from liability for the financial year 2012.
Board of Directors and remuneration to the Directors and the Auditors The
Nomination Committee’s proposal that the Board of Directors shall comprise
nine Directors elected by the AGM was adopted. Lars Westerberg, Magdalena
Gerger, Tom Johnstone, Hans Linnarson, Ulla Litzén, Ulf Lundahl, Katarina
Martinson and Anders Moberg were re-elected and Daniel Nodhäll was elected as
new member. Börje Ekholm declined re-election. Lars Westerberg was elected
Chairman of the Board.
The AGM approved the Nomination Committee’s proposal regarding unchanged
remuneration to the Board of SEK 5,500,000 in total, whereof SEK 1,650,000 to
the Chairman of the Board, and SEK 475,000 to each of the Directors elected by
the AGM and not employed by the Company. The Chairman of the Audit Committee
shall receive SEK 175,000 and the two members shall receive SEK 75,000 each.
The Chairman of the Remuneration Committee shall receive SEK 100,000 and the
two members SEK 50,000 each.
The Auditor's fee shall be paid on the basis of approved invoices.
Nomination Committee The AGM decided that until the AGM resolves otherwise,
the Company shall have a Nomination Committee consisting of five members. The
members shall comprise one representative of each of the four largest
shareholders in the Company in terms of the number of known vote rights held
as of August 31, and who have expressed a wish to participate in the
nomination committee work, together with the Chairman of the Board of
Principles for remuneration and long-term incentive program The AGM decided to
approve the Board of Directors' proposal for principles of remuneration to
Husqvarna Group Management.
Furthermore, the AGM approved the Board's proposal for a performance based
long-term incentive program for 2013, LTI 2013.
Re-purchase and transfers of own shares The AGM authorized the Board of
Directors to, on one or more occasions during the period up until the next
AGM, approve purchase of B-shares, conditioned upon that the Company’s holding
does not at any time exceed 3% of the total number of shares in the Company.
Shares shall be purchased on NASDAQ OMX Stockholm at a price within the
share-price interval registered at the time.
In addition, the Meeting authorized the Board of Directors to on one or more
occasions during the period up to the next AGM approve transfer of the
Company’s own B-shares on NASDAQ OMX Stockholm. Shares may be transferred on
NASDAQ OMX Stockholm only at a price within the share-price interval
registered at that time.
The purpose of the authorizations is to hedge the Company’s undertakings
(including social costs) for the Company’s incentive programs and to
continuously adapt the number of shares held for this reason.
The AGM further resolved that not more than 1,400,000 B-shares may be
transferred to employees in accordance with LTI 2013.
Authorization for new share issue The AGM authorized the Board to approve the
issue of not more than 57.6 million new B-shares against consideration in
kind, on one or more occasions during the period up to the AGM in 2013. The
price for the new shares shall be based on the market price of the Husqvarna
B-share. The purpose of the authorization is to facilitate acquisitions for
which payment will be made in own shares.
Husqvarna Group is the world’s largest producer of outdoor power products
including robotic lawn mowers, garden tractors, chainsaws and trimmers. The
Group is also the European leader in consumer watering products and one of the
world leaders in cutting equipment and diamond tools for the construction and
stone industries. The Group’s products and solutions are sold via dealers and
retailers to both consumers and professional users in more than 100 countries.
Net sales in 2012 amounted to SEK 31 billion, and the Group had 15,400
employees on average in more than 40 countries.
This information was brought to you by Cision http://news.cision.com
For additional information,
please contact Tobias Norrby
Investor Relations Manager
+46 8-738 93 35
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