SAAB AB Saab's Annual General Meeting was held on
Approval of Income Statement and Balance Sheet
The Annual General Meeting approved the Parent Company's Income Statement and Balance Sheet, and the Consolidated Income Statement and Balance Sheet for the financial year 2023.
Dividend
The Annual General Meeting decided on a dividend of
Discharge from liability
The Board of Directors and the CEO were discharged from liability for the financial year 2023.
The Board of Directors
In accordance with the Nomination Committee's proposal, Anders Ynnerman was elected as new Board member and the following Board members were re-elected;
Auditor
In accordance with the Nomination Committee's proposal, the Annual General Meeting decided to re-elect
Fees to the Board of Directors and the Auditor
The General Meeting decided, in accordance with the Nomination Committee's proposal, that the Board fees shall be
Fees to the Auditor are to be paid according to approved invoice.
Remuneration report
The Annual General Meeting decided to approve the Board of Directors' report on remuneration for the financial year 2023.
Long-term incentive programme 2025 and acquisition and transfer of own shares
The Annual General Meeting decided in accordance with the Board's proposal of a long-term incentive programme 2025 ("LTI 2025"), consisting of three parts: Share Matching Plan 2025, Performance Share Plan 2025 and Special Projects Incentive 2025. LTI 2025 comprises a maximum of 4,400,000 shares of series B provided implementation of the share split 4:1.
The Share Matching Plan 2025 covers all permanent employees. The participants can save up to five percent of the cash base salary, for purchase of shares of series B in Saab. If the purchased shares are retained for three years and employment within the
The Performance Share Plan 2025 is directed at a maximum of 300 key employees including the CEO. The participants can save up to 7.5 percent of the cash base salary for purchase of shares of series B in Saab. If the purchased shares are retained for three years and employment within the
Special Projects Incentive 2025 is directed at a maximum of 150 key employees, including the CEO. Special Projects Incentive 2025 is a complement to the Performance Share Plan 2025. Participation in the programme also presupposes participation in the Performance Share Plan 2025 or the Share Matching Plan 2025. The programme entitles the employee to allotment of performance shares corresponding to a maximum of 15-52.5 per cent of the cash base salary for the financial year 2025 depending on group belonging, provided that the employment remains for three years and that performance targets are reached. The allotment of performance shares is based on the achievement of ten to fifteen equally weighted performance targets during 2025, consisting of operational targets and milestones related to Saab's special projects within Saab's core areas Fighter Systems, Command and Control Systems, Underwater Systems, Advanced Weapon Systems and Sensors. Special projects can be linked to both the existing backlog and the development of future capabilities, including digitalisation, within each of the defined core areas. For the CEO and other members of the Group Management, allotment of performance shares in the programme and the Performance Share Plan 2025 together, may in total amount to a maximum of 75 per cent of the cash base salary for the CEO and 60 per cent of the cash base salary for the other members of the Group Management. The programme covers a maximum of 680,000 shares of series B provided implementation of the share split 4:1.
The Annual General Meeting also decided to authorise the Board of Directors to decide on acquisition of a maximum of 1,100,000 shares of series B (or maximum of 4,400,000 shares of series B following implementation of the share split 4:1) to secure delivery of shares to participants in Saab's incentive programme. The General Meeting further decided that no more than 1,100,000 shares of series B (or maximum of 4,400,000 shares of series B following implementation of the share split 4:1) may be transferred, free of consideration, to participants in LTI 2025. Transfers are normally made during the financial year 2028 and in
Acquisition and transfer of own shares
The Annual General Meeting decided on authorising the Board to, before the next Annual General Meeting, decide on the acquisition of shares of series B up to a maximum of ten percent of the total number of shares in the Company. The purpose of the authorisation is to be able to adjust the Company's capital structure and thereby contribute to an increased shareholder value as well as to enable a continuous use of acquired shares in connection with potential acquisitions of companies and, where applicable, for the Company's share-related incentive programmes.
The Board of Directors was further authorised to, before the next Annual General Meeting, decide on transfer of own shares in connection with acquisition of companies. The purpose of the authorisation is to provide the Board of Directors with increased scope for action in connection with financing of acquisitions of companies.
It was also decided that the Company shall have the right to, in consideration of earlier years' established incentive programmes, before the next Annual General Meeting, over the stock exchange transfer a maximum of 330,000 shares of series B (or 1,320,000 shares of series B after implementation of the share split 4:1) in order to cover certain expenses, mainly social security payments.
Share split and amendment to the articles of association
The Annual General Meeting decided in accordance with the Board's proposal on a share split and amendment to the articles of association, whereby each share shall be divided, regardless of series, into four shares. The Board of Directors was authorised to decide on the record date for the share split.
Shares and votes
The company has in total 135,845,847 shares, of which 2,383,903 are shares of series A with ten votes per share and 133,461,944 are shares of series B with one vote per share, which together represent 157,300,974 votes. The Company holds 2,385,547 own shares of series B, corresponding to 2,385,547 votes.
Contact
Saab Press Centre
+46 (0)734 180 018
presscentre@saabgroup.com
Saab is a leading defence and security company with an enduring mission, to help nations keep their people and society safe. Empowered by its 22,000 talented people, Saab constantly pushes the boundaries of technology to create a safer and more sustainable world. Saab designs, manufactures and maintains advanced systems in aeronautics, weapons, command and control, sensors and underwater systems. Saab is headquartered in
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