Resolutions by Mekonomen’s 2009 Annual General Meeting
22 April 2009 16:00
• An ordinary dividend of SEK 6 per share will be paid to shareholders.
• Fredrik Persson, Marcus Storch, Antonia Ax:son Johnson, Kenny Bräck, Anders G Carlberg, Wolff Huber and Helena Skåntorp were re-elected as Board members.
• Resolution regarding the opportunity for store managers of wholly owned subsidiaries to acquire shares in their individual store companies and thus become part-owners.
In his presentation, Mekonomen’s President and CEO Håkan Lundstedt summarized the year 2008, commenting that Mekonomen had experienced a very strong year despite a weak economic climate and business trend in the total market. A strong brand, the launch of new store, workshop and business concepts and an increase in the number of stores and workshops in 2008 contributed to Mekonomen’s full-year operating profit rising to SEK 251 M and revenues increasing by 6 per cent.
“In 2009, we are noticing that customers are consciously seeking alternatives that offer increased value for money and prefer distinct concepts with a high level of credibility. We are addressing this with measures including Mekonomen Direkt, whereby customers can be in direct contact with Mekonomen by calling +46(0)771 72 00 00 round-the-clock. In 2009, we will also expand our corporate offerings Mekonomen Direkt and Mekonomen Fleet to Denmark and Norway. We will also have 60 Mekonomen Medium and Mega units by year-end 2009 and we will increase the number of affiliated workshops by at least 100. With these initiatives, we can say that we are making CarLife easier for consumers and companies and are thus further strengthening our position.”
Dividend
In accordance with the Board’s motion, the Annual General Meeting resolved to pay a dividend of SEK 6 to shareholders. SEK 6 of the dividend pertains to the ordinary dividend based on profit for the year. The record date for the dividend is April 27. The payment of the dividend through Euroclear Sweden AB is expected to take place on April 30, 2009.
Election of the Board
In accordance with the Nomination Committee’s proposal, the Annual General Meeting resolved that the number of Board members shall remain unchanged at seven. Thereafter, the Annual General Meeting resolved on the re-election of Fredrik Persson, Marcus Storch, Antonia Ax:son Johnson, Kenny Bräck, Anders G Carlberg, Wolff Huber and Helena Skåntorp as Board members. Fredrik Persson was re-elected as the Chairman of the Board.
Fees to the Board and auditors
The Annual General Meeting resolved that a fee of SEK 320,000 (320,000) be paid to the Chairman, SEK 240,000 (240,000) to the Deputy Chairman and SEK 160,000 (160,000) to each of the other Board members elected by the Annual General Meeting.
The Annual General Meeting resolved that the auditors shall be paid against invoices.
Establishment of principles for the remuneration of company management
The Annual General Meeting established principles for the remuneration of company management. The remuneration shall comprise a fixed base salary, variable remuneration, pension benefits and other benefits and termination terms.
Acquisition of shares in subsidiaries by employees
In accordance with the Board’s motion, the Annual General Meeting resolved that employed managers of wholly owned individual store companies shall be able to acquire not more than 9 per cent of the shares in their particular store company.
The Annual General Meeting approved all motions presented to the Meeting by the Board and the Nomination Committee. The motion are presented in their entirety in the previously published Annual General Meeting notification.