Metro International S.A. ("Metro"), the international newspaper group, today
held its Annual General Meeting ("AGM") of shareholders in Luxembourg. All
proposed resolutions were duly passed with unanimous vote.
Election of the Board of Directors
The AGM resolved to re-elect Ms Mia Brunell Livfors, Mr Didier Breton, Mr Nigel
Cooper, Mr Erik Mitteregger, Mr Mario Queiroz and Ms Cristina Stenbeck as
members of the Board of Directors of Metro and elect Ms Michelle Guthrie and Mr
Patrick Ståhle as new members of the Board of Directors of Metro.
At a statutory meeting of the Board of Directors following the AGM, the Board
decided to re-elect Ms Mia Brunell Livfors as the Chairman of the Board of
Directors. Furthermore, the Board decided that the Audit Committee is to be
comprised of Mr Nigel Cooper, Mr Erik Mitteregger and Mr Patrick Ståhle. Mr
Nigel Cooper was re-elected the Chairman of the Audit Committee. The board also
decided that the Remuneration Committee is to be comprised of Ms Cristina
Stenbeck, Ms Mia Brunell Livfors and Mr Didier Breton. Ms Cristina Stenbeck was
elected Chairman of the Remuneration Committee.
Election of External Auditor
The AGM resolved to elect PricewaterhouseCoopers S.a.r.l, Luxembourg, as
external auditor for a term ending at the 2011 AGM. The remuneration of the
auditor shall be paid in accordance with an approved bill which specifies time,
persons who worked and tasks performed.
Directors' Fees
The AGM resolved to approve that the fees for the members of the Board of
Directors of Metro (including remuneration for the work in the committees of the
Board of Directors) for the period until the end of the 2011 AGM to be a total
of €357,500 and with such amount to be split as follows: the Chairman of the
Board of Directors of Metro, fees in an amount of €75,000 and the other seven
directors of Metro, fees in an amount of €35,000 for each; and remuneration for
the work in committees of the Board of Directors of Metro shall be a total of
€37,500. For the work of the Audit Committee, fees of €28,000 will be split as
follows: €16,000 for the Chairman of the Audit Committee and €6,000 for each of
the other two Audit Committee members. For the work of the Remuneration
Committee, fees of €9,500 will be split as follows: €4,500 for the Chairman of
the Remuneration Committee and €2,500 for each of the other two Remuneration
Committee members.
Procedure for the Nomination Committee for the 2011 AGM
The AGM resolved to approve the following procedure for preparation of the
election of the Board of Directors of Metro and the auditor of Metro. The work
of preparing a proposal on the Directors of the Board and auditor, in the case
that an auditor should be appointed, and their remuneration as well as the
proposal on the Chairman of the 2011 AGM shall be performed by a Nomination
Committee. The Nomination Committee will be formed during October 2010 in
consultation with the largest shareholders of Metro as per 30 September 2010.
The Nomination Committee will consist of at least three members representing the
largest shareholders of Metro. Cristina Stenbeck will be a member of the
Committee and will also act as its convenor. The members of the Committee will
appoint the Committee Chairman at their first meeting.
Guidelines on Remuneration for Senior Executives
The AGM resolved to approve the guidelines for determining remuneration for
senior executives as proposed by the Board of Directors.
Termination of two Metro Share Option Plans
The AGM resolved to approve the termination of the Metro share option plan
approved by the Board of Directors on 11 February 2004 with effect as of 11
February 2010, and the termination of the Metro share option plan approved by
the Board of Directors on 22 March 2005 with effect as of 11 February 2010.
For further details of the decisions taken at the AGM, please refer to the AGM
Convening Notice published on 10 May 2010, which is available on Metro's
website.
For further information please visit wwww.metro.lu or contact:
Mia Brunell Livfors, Chairman of the Board of Directors +44 20 7016 1300
Anders Kronborg, CFO +46
8 120 570 00
Damien Massingham, Company Secretary +44 20 7016 1300
***
ABOUT METRO INTERNATIONAL AND METRO
Metro is the largest international newspaper in the world. Metro is published
in over 100 major cities in 19 countries across Europe, North & South America
and Asia. Metro has a unique global reach - attracting a young, active,
well-educated Metropolitan audience of 17 million daily readers.
Metro International S.A. shares are listed on Nasdaq OMX Stockholm through
Swedish Depository Receipts of series A and series B under the symbols MTROA and
MTROB
[HUG#1419220]
Results of the Annual General Meeting of the Shareholders of Metro International
| Source: Metro International S.A.