BE Group’s Annual General Meeting 2014 was held today, Friday 25 April, at the
company’s head office in Malmö. The following resolutions were passed.
Election of Board of Directors and Auditor
Anders Ullberg, Roger Bergqvist, Lars Olof Nilsson, Petter Stillström and Jörgen
Zahlin were re-elected as Board members. Anders Ullberg was also re-elected
Chairman of the Board. Charlotte Hansson was elected as a new Board member.
Marita Jaatinen had declined re-election. The accounting company KPMG AB was re
-elected as Auditor.
It was resolved that the fees to the Board of Directors shall unchanged amount
to a total of SEK 1,470,000, whereof SEK 420,000 to the Chairman of the Board
and SEK 210,000 to each of the other Board members elected by the General
Meeting. For work in the Audit Committee a total remuneration of SEK 150,000
(unchanged) shall be distributed, whereof SEK 70,000 to the Chairman and SEK
40,000 to each of the other Committee members, whereas for work in the
Remuneration Committee no remuneration (unchanged) shall be distributed.
The AGM further resolved, provided that it is cost-neutral for BE Group and
after a written agreement between BE Group and a Swedish limited liability
company which is wholly-owned by a Board member, that the board fee may be
invoiced by the company wholly-owned by the Board member. In such case, the
invoiced fee shall be increased with an amount corresponding to social security
payments pursuant to law and value added tax pursuant to law.
Appropriation of the company’s result
According to the proposal by the Board of Directors, the AGM resolved that the
funds at the disposal of the parent company of SEK 438,749,095 in total, after
the loss for the year of SEK -24,147,466, should be carried forward. The AGM
further resolved that no dividend should be paid for the 2013 financial year.
Guidelines for remuneration to senior executives
The AGM approved the proposal of the Board regarding guidelines for remuneration
to senior executives principally in accordance with the guidelines adopted at
the AGM 2013. The guidelines principally entail that salaries and other terms of
remuneration to the management shall be in accordance with the market and that
variable remuneration may amount to a maximum of 50 per cent of the fixed
remuneration. Upon notice by BE Group, an aggregated notice period and right to
severance pay corresponding to a maximum of 18 months’ fixed salary shall apply.
Authorization for the Board of Directors to resolve on the transfer of the
company’s own shares
The AGM resolved, in accordance with the proposal of the Board of Directors, to
authorize the Board to decide, on one or several occasions up to the AGM 2015,
on the transfer of the company’s own shares, for the purpose of enabling BE
Group to finance minor company acquisitions. Transfer of shares may be made with
deviation from the shareholders’ preferential right of maximum 538,381 shares,
equivalent to the company's existing holding of own shares. Transfer of shares
may take place as payment of whole or part of the purchase price at the
acquisition of a company or business or part of a company or business, and the
consideration shall be equal to the assessed market value of the share. On such
transfer, payment may be made by assets contributed in kind or by set-off of a
claim against BE Group. Transfer may also be made against cash payment by sale
on NASDAQ OMX Stockholm, at a price within the price interval that may be
registered at any given time, i.e. the interval between the highest purchase
price and the lowest sales price at the time of transfer. The Board of Directors
shall be entitled to determine the other terms and conditions of the transfer.
Additional information about BE Group can be found on the company website
For further information, please contact:
Kimmo Väkiparta, President and CEO
tel.: +46 (0)705 972 342 e-mail: email@example.com
BE Group, listed on the NASDAQ OMX Stockholm exchange, is a trading and service
company in steel and other metals. BE Group provides various forms of service
for steel, stainless steel and aluminium applications to customers primarily in
the construction and engineering sectors. In 2013, the Group reported sales of
SEK 4.0 Bn. BE Group has approximately 800 employees, with Sweden and Finland as
its largest markets. The head office is located in Malmö, Sweden. Read more
about BE Group at www.begroup.com
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