Annual General Meeting of Intrum Justitia AB
Summary of the decisions taken at the Intrum Justitia AB (publ) Annual General
Meeting. The AGM was held today in Stockholm with around 60 people in
attendance. The meeting was chaired by Lars Lundquist.
“Our goal is to get more companies to outsource their own credit management to
professional suppliers. To succeed with this, our vision must to be seen not as
a debt collection agency, but a service-provider with client focus. In addition,
we must strengthen our position within commercial collection in the big five
European markets in Italy, Spain, France, Germany and England”, said Intrum
Justitia's President and CEO Michael Wolf in his address.
Dividend
The Annual General Meting approved the Board of Directors' proposal for dividend
of SEK 2.75 per share, with 30 April 2007 as the record date. The dividend is
estimated to be paid out through VPC on 4 May 2007.
Election of the Board of Directors
The Annual General Meeting resolved, in accordance with the Nomination
Committee's proposal, that the number of Board Members shall be seven (7) with
no deputy Board Members, and to re-elect Board Members Helen Fasth-Gillstedt,
Lars Förberg, Bo Ingemarson, Lars Lundquist and Lars Wollung and to elect Matts
Ekman and Ársæll Hafsteinsson as new Board Members.
Lars Lundquist was elected Chairman of the Board and Bo Ingemarson Deputy
Chairman.
Matts Ekman has been Executive Vice President and Chief Financial Officer of the
Vattenfall Group. Formerly, he was Chief Financial Officer of Gränges AB and
thereafter Chief Financial Officer of AB Electrolux. Ekman is Chairman of the
Board of Handelshuset Ekman & Co and Board Member of Investment AB Öresund,
Profoto AB, Spendrup Invest AB and Compateq AB. He is also a member of the
Advisory Board of Swedish Calyon (formerly Banque Credit Agricole Indosuez).
Ekman holds an MBA from Lund University and an MBA from the University of
California, Berkeley.
Number of shares in Intrum Justitia: 2,000
Ársæll Hafsteinsson is Manager of Landsbanki Ísland's Legal Division, including
Credit Risk, Operational Risk and Branch Management. Formerly, he worked for
Búnaðarbanki Íslands hf. (now Kaupthing Bank), serving as head of that bank's
legal department and thereafter as Chief Legal Officer. He is a board member of
various companies and funds, including Búnaðarbanki Employees' Pension Fund,
Creditinfo Group hf. and Intrum á Íslandi hf. Hafsteinsson is a law graduate
from the University of Iceland.
Number of shares in Intrum Justitia: 0
Remuneration to the Board of Directors
The Annual General Meeting adopted the Nomination Committee's proposal for
remuneration to the Board of Directors in accordance with the following: SEK
600,000 to the Chairman of the Board and SEK 300,000 to each of the other Board
Members (in total SEK 2,400,000) plus SEK 400,000 to be attributed to committee
work, whereof SEK 100,000 to the Chairman of the Audit Committee, SEK 50,000 to
each of the other two Audit Committee members and the remaining SEK 200,000 to
be distributed equally among the altogether six members of the Remuneration and
Investment Committees.
Principles of remuneration and other terms of employment for senior management
The Annual General Meeting resolved to approve the Board of Directors' proposal
for principles of remuneration and other terms of employment for senior
management, the main principle being that Intrum Justitia shall offer market
terms, enabling the Group to recruit and retain senior executives with excellent
competence and capacity for achieving established goals.
Nomination Committee 2007/2008
The Annual General Meeting approved the proposal of the Nomination Committee of
2006/2007, entailing in summary that the Chairman of the Board of Directors
shall convene the five largest shareholders of the company, with respect to
voting power, at the end of the third quarter of the year. These shareholders
then have the right to appoint a member each to the Nomination Committee. The
Committee shall be chaired by one of its members. No more than two of the
Committee's members may also be members of the Board of Directors. Information
regarding the composition to the Nomination Committee shall be made public in
the company's interim report for the third quarter.
Adoption of the profit and loss statements and balance sheets 2006 and discharge
from liability
The profit and loss statements and balance sheets for 2006 were adopted and the
Board and the Managing Director were discharged from liability for the
administration of the company for the year 2006.
For further information, please contact:
Anders Antonsson, Director of Communications
Tel: +46 8 546 102 06. Mobile: +46 703 367 818
E-mail: a.antonsson@intrum.com
Intrum Justitia is Europe's leading Credit Management Services (CMS) group, with
revenues of approximately SEK 2.9 billion and around 2,900 employees in 24
markets. Intrum Justitia strives to measurably improve its customers' cash flows
and long-term profitability by offering high quality in relationships with both
customers and debtors in each local market. The group offers a wide range of
services to manage commercial and consumer receivables. Intrum Justitia AB
(ticker IJ) is listed on the OMX Nordic Exchange in Stockholm, Mid Cap list. For
more information, please visit www.intrum.com
