Decisions at the Annual General Meeting on April 23, 2009
The Annual General Meeting of Rezidor Hotel Group AB was held today, April 23,
2009 in Stockholm. During the meeting, the following decisions were taken:
Dividend: It was decided that no dividend will be paid for the year 2008 and
that the distributable funds are brought forward.
Board of Directors: The following members were re-elected: Urban Jansson (also
re-elected as Chairman), Hubert Joly, Göte Dahlin, Harald Einsmann, Ulla Litzén,
Trudy Rautio, Barry Wilson, Jay S. Witzel and Benny Zakrisson.
Auditor: Deloitte AB was re-elected as the auditor of the Company for a
four-year period. It was also decided that the auditor shall be entitled to a
fee corresponding to the amount invoiced and approved.
Share based long term incentive programme: A partly revised and simplified
long-term, performance-based incentive programme for 2009 will be implemented.
It will comprise no more than 30 senior executives within Rezidor. The term of
the programme will be 3 years, and the programme will in total comprise no more
than 1,700,000 shares. The Board of Directors was authorised until the AGM 2010
to decide on acquisitions and transfers of own shares. No more than 1,350,000
shares can be acquired to secure delivery of shares to participants in the
programme, and no more than 350,000 shares can be acquired and transferred to
cover social security costs. The financial targets, and thus the allotment of
Performance Shares, will be based 75% on the company's TSR relative to a
comparator group of 11 publicly traded international hotel companies and 25% on
the company's EPS growth. They also include a minimum level which must be
achieved in order for any allotment to occur at all, as well as a maximum level
in excess of which no additional allotment will occur. Complete details on the
programme can be found at www.rezidor.com.
Share buy-back: The Board of Directors was authorised until the AGM 2010 to
decide on acquisitions of the company's shares on Nasdaq OMX Stockholm. Shares
may be acquired to the extent that the company's holding of its own shares
following the acquisition at the most reaches one-tenth of all shares in the
company.
Minutes from the Annual General Meeting will be published on www.rezidor.com
where also more detailed information about the contents of the decisions based
on the Board's proposal can be found.
For further information, please contact:
Marianne Ruhngård
Senior Vice President and General Counsel and Secretary to the Board
The Rezidor Hotel Group
Tel: +32 2 702 93 08
E-mail: agm@rezidor.com
About the Rezidor Hotel Group:
The Rezidor Hotel Group is one of the fastest growing hotel companies in the
world. The group features a portfolio
of close to 370 hotels in operation and under development with 78,000 rooms in
58 countries.
Rezidor operates the brands Radisson Blu Hotels & Resorts, Regent Hotels &
Resorts, Park Inn and Country Inns & Suites in Europe, Middle East and Africa,
along with the goldpoints plusSM loyalty programme for frequent hotel guests.
Rezidor has signed a worldwide license agreement with the Italian fashion house
Missoni, in order to
develop and operate a lifestyle hotel brand of the same name: Hotel Missoni.
In November 2006, Rezidor was listed on the Stockholm Stock Exchange. Carlson
Companies is the main shareholder.
The Corporate Office of the Rezidor Hotel Group is based in Brussels, Belgium.
For more information on Rezidor, visit www.rezidor.com
