KappAhl AB (publ) held its Annual General Meeting on Wednesday 4 December 2013
in Mölndal. The following resolutions were passed at the Meeting:
· No dividend
· Resolution on adoption of the accounts and discharge from liability
· Re-election of four Board members including Chairman of the Board and new
election of Pia Rudengren as member of the Board
· Instructions for the Nominations Committee
· Remuneration policy for company management
proposals made available to the shareholders before the Annual General Meeting.
Resolution on adoption of the accounts and discharge from liability
The income statement and balance sheet and consolidated income statement and
balance sheet were adopted and the meeting discharged the Board of Directors and
Chief Executive Officer from liability for the financial year.
Resolution regarding dividend
The Annual General Meeting resolved on that no dividend is to be distributed for
2012/2013, and that the profit of SEK 2,102,388,287 is carried forward.
Determination of fees to the Board of Directors and the Auditor
The meeting resolved that the fee to the Board of Directors and its committees
shall be SEK 1,360,000 (unchanged since previous year). The resolution means
that the Chairman of the Board is awarded SEK 360,000, that each other elected
member of the Board is awarded SEK 180,000, that the chairman of the Audit
Committee is awarded SEK 145,000 that one other member of the Audit Committee is
awarded SEK 95,000, that the chairman of the Remuneration Committee is awarded
SEK 30,000 and that one other member of the Remuneration Committee is awarded
SEK 10,000. It was resolved that the fee to the accounting firm shall be
unchanged in accordance with customary standards and approved invoice.
Re-election and election of the Board of Directors
Four ordinary members of the Board, including Chairman of the Board, were re
-elected in accordance with the recommendation of the Nominations Committee. The
Annual General Meeting elected Pia Rudengren as ordinary member of the Board.
Consequently, the members of the Board of Directors elected by the Annual
General Meeting are Amelia Adamo, Anders Bülow (Chairman), Paul Frankenius,
Christian W. Jansson and Pia Rudengren.
Election of accounting firm
Ernst & Young AB was re-elected as accounting firm and it was resolved that
engagement will run until the next Annual General Meeting.
Instructions for the Nominations Committee
The Nominations Committee’s proposed instructions and rules of procedure for the
Nominations Committee were adopted. The Nominations Committee shall consist of
four ordinary members, who shall be appointed by the four largest shareholders
as of April 30. The term largest shareholders refers to shareholders registered
with Euroclear Sweden AB and grouped by ownership as of April 30.
Remuneration policy for company management
The meeting adopted the Board's proposed remuneration policy for the management
team. The policy implies that a bonus of a maximum of 50 per cent of fixed
salary can be payable. The remuneration policy is substantially the same as the
one adopted by the previous Annual General Meeting.
All the resolutions of the Annual General Meeting were passed with the requisite
The English text is an unofficial translation. In case of any discrepancies
between the Swedish text and the English translation, the Swedish text shall
For further information contact
Johan Åberg, President and CEO, phone +46 706 09 99 73, email@example.com
Anders Düring, Chief Financial Officer, phone +46 708 88 77 33,
For company information and photos contact
Charlotte Högberg, Head Public Relations. Tel. +46 704 71 56 31,
KappAhl, founded in 1953, is one of the Nordic region’s leading fashion
retailers with close to 400 stores in Sweden, Norway, Finland and Poland, and
Shop Online. KappAhl offers value-for-money fashion of its own design to the
many people – men, women and children, with a special focus on women in the
prime of life. KappAhl was the world’s first fashion retailer to gain
environmental certification in 1999. In 2012/2013, sales were SEK 4.8 billion
and the number of employees approximately 4,500. KappAhl is quoted on Nasdaq OMX
Stockholm. For more information, go to www.kappahl.com.
KappAhl AB (publ) discloses the information provided here pursuant to the
Securities Market Act and/or the Financial Instruments Trading Act. The
information was submitted for publication on 4 December, 2013 at 12.30 pm.
GlobeNewswire, a NASDAQ OMX company, is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.