Atlas Copco AB : Atlas Copco: Report from Atlas Copco's Annual General Meeting 2012
04/30/2012| 02:40am US/Eastern
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Atlas Copco AB (STO:ATCOA), (STO:ATCOB) on Friday April 27 held its
Annual General Meeting, chaired by Sune Carlsson, Chair of the Board of
Directors.
The income statements and the balance sheets of the parent company and
the Group were approved, together with the Board's proposal for profit
distribution.
The proposed dividend of SEK 5.00 per share was approved. Record day for
the dividend is May 3, 2012, and the dividend is estimated to be
distributed by Euroclear Sweden AB on May 8, 2012.
Nine board members were elected: Sune Carlsson, Staffan Bohman, Ulla
Litzén, Anders Ullberg, Margareth Řvrum, Johan Forssell, Gunilla
Nordström and Ronnie Leten were re-elected. Peter Wallenberg Jr was
elected new member of the Board.
The Annual General Meeting re-elected Sune Carlsson as Chair of the
Board.
The Board of Directors' fee was approved as follows:
A fee of SEK 1 800 000 (1 750 000) to the chair and SEK 540 000
(525 000) to each other Board member not employed by the company. An
unchanged fee to the members of the Audit Committee, at SEK 200 000 to
the Chair and SEK 125 000 to the other members of this committee.
Unchanged fees of SEK 60 000 to each of the members of the Remuneration
Committee. Unchanged fees of SEK 60 000 to each Board member who, in
addition to the above, participates in a committee in accordance with a
decision of the Board of Directors.
The Annual General Meeting approved the suggestion allowing Board
members to receive half of the board fee in the form of synthetic shares
and the remaining part in cash. The Annual General Meeting also approved
that the obligation of the company to pay an amount corresponding to the
synthetic shares shall be hedged through the purchase of own series A
shares.
The Annual General Meeting approved the proposal of the Board of
Directors regarding guiding principles for remuneration to senior
executives (CEO and other members of Group management) and a performance
stock option plan for 2012.
The Annual General Meeting authorized the Board to decide on the
purchase and transfer of own series A shares, in order to fulfill
obligations related to the performance stock option plan for 2012, and
to the part of the board fee that consists of synthetic shares. The
Board was authorized to sell shares in order to fulfill obligations
related to the performance stock option plans for 2007, 2008 and 2009,
and to cover costs related to synthetic shares to the Board of Directors.
The Annual General Meeting approved the proposal regarding the
Nomination Committee and its tasks.
Statutory Board meeting
A statutory Board meeting was held after the Annual General Meeting.
Ulla Litzén, Chair, Sune Carlsson, Staffan Bohman and Johan Forssell
were re-elected to serve on the Audit Committee. Sune Carlsson, Chair,
and Anders Ullberg were re-elected as members of the Remuneration
Committee. Peter Wallenberg Jr was elected new member of the
Remuneration Committee.
The speech to the shareholders by Atlas Copco's President and CEO Ronnie
Leten will be published on the Group's website: www.atlascopco.com/agm,
where also the minutes from the Annual General Meeting will be published.
Atlas Copco discloses the information provided herein pursuant to the
Securities Markets Act and/or the Financial Instruments Trading Act.
Atlas Copco is an industrial group with world-leading positions in
compressors, expanders and air treatment systems, construction and
mining equipment, power tools and assembly systems. With innovative
products and services, Atlas Copco delivers solutions for sustainable
productivity. The company was founded in 1873, is based in Stockholm,
Sweden, and has a global reach spanning more than 170 countries. In
2011, Atlas Copco had 37 500 employees and revenues of BSEK 81 (BEUR 9).
Learn more at www.atlascopco.com.
This information was brought to you by Cision http://www.cisionwire.com
Atlas Copco AB
Daniel Frykholm, Media Relations Manager
+46
(0)8 743 8060 or +46 (0)70 865 8060
© Business Wire 2012
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