Investment AB Kinnevik (publ) ("Kinnevik") today held its Annual General Meeting ("AGM"). The AGM resolved in accordance with all proposals of the Board and the Nomination Committee.
The AGM re-elected Tom Boardman, Vigo Carlund, Dame Amelia Fawcett, Wilhelm Klingspor, Erik Mitteregger, Allen Sangines-Krause and Cristina Stenbeck as directors of the Board and elected Lorenzo Grabau as new director of the Board. The AGM further re-elected Cristina Stenbeck as Chairman of the Board of Directors. The accounting firm Deloitte AB was elected as new auditor for a term of office ending at the close of the 2017 Annual General Meeting.
The AGM approved the 2012 Annual Report and resolved to distribute a cash dividend to the shareholders for 2012 of SEK 6.50 per share. The dividend is estimated to be paid out to the shareholders through Euroclear Sweden AB on Wednesday 22 May 2013.
The AGM resolved on the discharge of liability of the directors of the Board and the Chief Executive Officer for 2012.
The AGM also resolved to:
- Adopt a performance based incentive plan (the "Plan"). The Plan includes in total a maximum of 30 senior executives and other key employees within the Kinnevik Group. In order to participate in the Plan, the participants are required to own shares in Kinnevik. Allotment of Kinnevik shares is based on the fulfillment of certain retention and performance based conditions and, in addition, that the participant is employed in Kinnevik and has maintained their shares throughout a three year vesting period. The allotment of Kinnevik shares will be effected through a free-of-charge transfer of class B shares held in treasury by the company after the vesting period.
- The Plan has the same structure as the plan that was adopted at the 2012 Annual General Meeting.
- Authorise the Board to resolve on a directed new issue of 185,000 C-shares to Nordea Bank AB (publ) and to subsequently resolve to repurchase the C-shares from Nordea Bank AB (publ), in order to ensure the delivery of B-shares under the Plan.
- Authorise the Board of Directors to pass a resolution on one or more occasions for the period up until the next Annual General Meeting on repurchasing so many Class A and/or Class B shares that the Company's holding does not at any time exceed 10 percent of the total number of shares in the Company. The repurchase of shares shall take place on the NASDAQ OMX Stockholm and may only occur at a price within the share price interval registered at that time, where share price interval means the difference between the highest buying price and lowest selling price.Approve a procedure for preparation of the election of e.g. the Board of Directors and auditor.
- Adopt guidelines for remuneration to the senior executives.
- Reject proposals from the shareholders under items 21 (a)-(e) and 22 (a)-(l)
At the constituent meeting of the Board of Directors following the AGM, an Audit Committee and a Remuneration Committee were formed. Erik Mitteregger was appointed as Chairman of the Audit Committee and Tom Boardman, Allen Sangines-Krause and Lorenzo Grabau were appointed members of the Audit Committee. Wilhelm Klingspor was appointed Chairman of the Remuneration Committee and Dame Amelia Fawcett, Erik Mitteregger and Cristina Stenbeck were appointed members of the Remuneration Committee.
Kinnevik discloses the information provided herein pursuant to the Securities Market Act (Sw. lagen om värdepappersmarknaden (2007:528)). The information was submitted for publication on 13 May, 2013 at 13.00 (CET).
For further information, visit www.kinnevik.se or contact:
|Torun Litzén, Director Investor Relations||+46 (0)8 562 000 83|
|+46 (0)70 762 00 83|
Kinnevik was founded in 1936 and thus embodies more than seventy-five years of entrepreneurship under the same group of principal owners. Kinnevik's objective is to increase shareholder value, primarily through net asset value growth. The company's holdings of growth companies are focused around the following comprehensive business sectors; Telecom & Financial Services, Online, Media, and Industry and other investments. Kinnevik has a long history of investing in emerging markets which has resulted in a considerable exposure to consumer sectors in these markets. Kinnevik plays an active role on the Boards of its holdings.
Kinnevik's class A and class B shares are listed on the NASDAQ OMX Stockholm's list for large cap companies, within the financial and real estate sector. The ticker codes are KINV A and KINV B.