At the Annual General Meeting (AGM) in Peab AB (publ) held on Thursday Anders Runevad was re-elected the new Chairman of the Board. The AGM adopted the income statement and balance sheet as well as decided on the disposition of company profits, election of, and remuneration to, the Board of Directors and auditor, the election of the Nomination Committee and the principles for the appointment of the Nomination Committee and instructions for it. The AGM also authorized the Board to decide on new issues and transfers of own shares.
The AGM was held at Grevieparken in Båstad. Shareholders could also exercise their voting right through postal voting in accordance with the regulations in Peab’s articles of association.
The AGM approved the Board’s proposal of a dividend for the financial year of 2022 of SEK 4.00 per share. Monday, May 8, 2023 was adopted as the record date for dividend distribution.
The AGM adopted the company and Group balance sheet and income statement for 2022 and discharged the Board members and the CEO from liability for the financial year of 2022.
In accordance with the proposal of the Nomination Committee the AGM decided to reelect Magdalena Gerger, Karl-Axel Granlund, Liselott Kilaas, Kerstin Lindell, Fredrik Paulsson, Malin Persson, Lars Sköld and Anders Runevad. Anders Runevad was elected the new Chairman of the Board.
Remuneration to the Chairman of the Board of Directors was set at SEK 1,200,000 (unchanged) and for each of the other board members at SEK 600,000 (unchanged). Remuneration for work on the Remuneration and Finance Committees was set at SEK 80,000 (unchanged) for each member of those committees. Remuneration for work on the Audit Committee was set at SEK 165,000 (unchanged) for the chairman and SEK 80,000 (unchanged) for each of the other members. The total amount of fees to Board members adopted was SEK 6,285,000 (unchanged).
In accordance with the Audit Committee’s proposal, the registered accounting company EY with Jonas Svensson as principle company accountant was re-elected. It was also decided the accountant will be compensated according to approved invoices.
In accordance with the proposal of the Nomination Committee the AGM decided to change the text in points 1.1, 1.2 and 1.3 in the Principles for the Nomination Committee’s appointment and instructions for the Nomination Committee in Peab AB from “the final banking day in September” to “the final banking day in August” regarding information on ownership relations/ownership groupings as the basis for determining which shareholders have the right to appoint a member of the Nomination Committee.
The AGM approved to proposal from the Board to make the changes in the Remuneration Policy that were presented in the summons to attend the AGM and which have been available in their entirety on the company’s website, and entail that a word which was not the correct accounting designation in the Swedish version but was correct in the English version was rectified, and that the rest of the paragraph will be as follows: The maximum pension contribution is 35 percent of base annual salary and retirement age is 65. Previous pension plans of 47 percent of base annual salary and retirement at 62 only apply to already concluded agreements. Salary waives may be used to increase pension provisions through one-off pension contributions in the form of bonus exchanges. This wording is a clarification of the previous text and does not entail any changes in substance. The Remuneration Policy remains otherwise unchanged.
The AGM approved the remuneration report 2022 drawn up by the Board.
The AGM authorized the Board of Directors to decide, on one or more occasions during the period up to the next AGM, on a new issue of B shares corresponding at the most to a total of ten percent of the registered share capital at the time of the authorization, with or without preferential rights for current shareholders.
The AGM authorized the Board of Directors, during the period up to the next AGM, to decide to acquire, on Nasdaq Stockholm AB or through an acquisition offer aimed at all shareholders or holders of shares of a particular class, a maximum number of shares so that the company's holding of its own shares after the acquisition does not exceed one tenth of all shares in the company. The shares may be acquired on Nasdaq Stockholm AB at a price within the price interval registered at any given time and, in the case of acquisition through an acquisition offer, at a price equivalent to the lowest stock market price at the time of the offer with a maximum upward deviation of 30 percent. Shares may only be acquired for compensation in cash.
The AGM authorized the Board of Directors, during the period up to the next AGM, to decide to transfer, on Nasdaq Stockholm AB or in connection with, for example, a corporate acquisition and with or without any deviation from the shareholders' preferential rights, a maximum of all the company's own shares held by the company on Nasdaq Stockholm AB at a price within the price interval registered at any given time and, in the case of divestment by other means, at a price equivalent to the stock market price of the shares at the time of the transfer with any deviation that the Board of Directors may deem appropriate.
For further information, please contact:
Juha Hartomaa, Head of Investor Relations Peab, +46 725 33 31 45