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Kinnevik's 2024 Annual General Meeting

03 jun 2024, 13:00 pm · Regulatory information
Kinnevik AB (publ) ("Kinnevik") today held its Annual General Meeting (the "AGM"). The AGM resolved in accordance with all proposals of the Board and the Nomination Committee.

The AGM resolved on an extraordinary cash value transfer to holders of ordinary shares (i.e. Class A shares and Class B shares) through a share redemption plan. Each ordinary share in Kinnevik entitles to one (1) redemption share, and each redemption share entitles to a redemption amount of SEK 23.00 per share which is expected to be paid out to shareholders around 2 July 2024.

The Board has set the record date for the share split and the right to receive redemption shares to 10 June 2024 (i.e. the same date as stated in the notice and the information brochure regarding the share redemption plan). This means that the last day of trading in Kinnevik's shares before the share split and including the right to receive redemption shares is 5 June 2024. From and including 7 June 2024, Kinnevik's shares will be traded excluding the right to receive redemption shares. The redemption shares will be traded on Nasdaq Stockholm from and including 11 June 2024 up to and including 25 June 2024. The redemption amount of SEK 23.00 per ordinary share will be paid out to holders of redemption shares on 27 June 2024.

An information brochure with further information regarding the share redemption plan is available on Kinnevik's website at www.kinnevik.com under the heading "General Meetings" (which can be found under the section "Governance").

The AGM resolved to re-elect James Anderson, Susanna Campbell, Harald Mix, Cecilia Qvist and Charlotte Strömberg as Board members, and to elect Claes Glassell and Maria Redin as new Board members. James Anderson was re-elected as Chair of the Board.

The AGM approved the 2023 Annual Report and resolved that Kinnevik's retained earnings and share premium is to be carried forward. The AGM resolved on the discharge from liability of the Board members and the Chief Executive Officer for the financial year 2023.

The AGM also resolved to:

  • approve the Board's Remuneration Report for 2023.
  • determine the remuneration to the Board members and the Auditor.
  • elect KPMG AB as Auditor until the end of the 2025 Annual General Meeting. The authorised public accountant Mårten Asplund will continue as Auditor-in-charge.
  • elect Lawrence Burns, Erik Brändström, Marie Klingspor and Cristina Stenbeck as members of the Nomination Committee and Lawrence Burns as its Chair. The Chair of the Board James Anderson will also be a member of the Nomination Committee.
  • adopt new guidelines for remuneration to Senior Executives.
  • amend the Articles of Association so that the provision stating the object of the Company's business is simplified.
  • adopt a long-term share incentive plan for Kinnevik employees, including resolutions to amend the Articles of Association by the introduction of four new share classes of reclassifiable incentive shares, to directly or indirectly transfer incentive shares to the participants in the plan, as well as to ensure delivery of incentive shares under the plan by authorising the Board to resolve on a new issue and repurchase of incentive shares.
  • authorise the Board to resolve on a new issue and repurchase of Class X shares in order to ensure delivery of shares under outstanding long-term incentive plans.