Report from Mekonomen AB Annual General Meeting
04 April 2008 15:33
• An ordinary dividend to the shareholders of 6 SEK (3) and an extra dividend of 5 SEK (7) per share
• Fredrik Persson, Marcus Storch, Antonia Ax:son Johnson, Kenny Bräck, Anders G Carlberg, Wolff Huber and Helena Skåntorp were reelected to the Board
• It was decided that the managers of wholly owned stored should have the possibility to acquire shares in the stores they manage and thereby become shareholders
Mekonomen´s President and CEO, Håkan Lundstedt, summarized the year 2007 by commenting that the year had been the best year so far in Mekonomen`s history.
Revenue increased by four per cent and EBIT improved by 14 per cent. The figures were the result of sound efforts, competent employees, various improvements, and the development of the foundation that was created earlier.
“The ambition is to make CarLife easier, which should inspire everything within Mekonomen. We have extended opening hours in order to be open when the consumers do their shopping, we have broadened our assortment to cover the total CarLife for a consumer and at the General Meeting we present the first products under private label.”
Dividend
In accordance with the Board’s proposal, the Annual General Meeting voted in favour of a total dividend of 11 SEK. A dividend of 6 SEK per share is ordinary dividend and is based on the profit of the year. In addition an extra dividend of 5 SEK per share is paid.
The record date for the right to receive the dividend is April 9. Payment of the dividend through VPC is expected to occur on April 14, 2008.
Election of the Board
In accordance with the Nomination Committee’s proposal, the Annual General Meeting voted for an unchanged number of seven ordinary Board members. The Annual General Meeting then voted to re-elect Fredrik Persson, Marcus Storch, Antonia Ax:son Johnson, Kenny Bräck, Anders G Carlberg, Wolff Huber and Helena Skåntorp. Fredrik Persson was re-elected Chairman of the Board.
The fees for the Board and auditors
The Annual General Meeting voted to pay a fee in the amount of SEK 320 000 (300 000) to the Board Chairman, SEK 240 000 (225 000) to the Vice Chairman and SEK 160 000 SEK (150 000) to each other member elected by the General Meeting.
Principles for remuneration for the Company’s management
The Annual General Meeting voted in accordance with the Board´s proposal. Remuneration to the company’s management should consist of fixed basic salary, variable remuneration, pension benefits and other benefits and severance terms.
Acquisition of shares in subsidiaries by employees
The Annual General Meeting voted in accordance with the Board´s proposal that managers in wholly owned stores should be able to acquire up to nine per cent of the shares in the stores managed by themself.
The Shareholders approved all proposals made by the Board of Directors and the Nomination Committee. The entire proposals are outlined in the published notice of the Annual General Meeting of Mekonomen.