BillerudKorsnäs Aktiebolag (publ) has today, Tuesday 5 May 2020, held its Annual General Meeting. The Annual General Meeting resolved in accordance with all proposals of the Board and the Nomination Committee.
Adoption of the annual report and resolution on dividend
The Annual General Meeting approved the 2019 annual report and resolved to distribute a dividend to the shareholders of SEK 4.30 per share. The record date for the dividend was set to 7 May 2020, and the dividend is estimated to be paid out on 12 May 2020.
Election of board and auditor
The Annual General Meeting decided to re-elect Board members Tobias Auchli, Andrea Gisle Joosen, Bengt Hammar, Michael M.F. Kaufmann, Kristina Schauman, Victoria Van Camp and Jan Åström and elect Jan Svensson as a new member of the Board. The Annual General Meeting also decided to elect Jan Åström as Chairman of the Board and Michael M.F. Kaufmann as Deputy Chairman of the Board.
The Annual General Meeting decided to re-elect the registered accounting firm KPMG as the company's auditor for the period up to the end of the 2021 Annual General Meeting. Ingrid Hornberg Román will remain as Auditor-in-Charge.
The introduction of a long-term share-based incentive program and transfer of own shares under the long-term share-based incentive program
The Annual General Meeting decided to introduce a long-term share-based incentive program (LTIP 2020) with materially the same basic structure as the programs previously adopted by Annual General Meetings comprising a maximum of 100 persons, including Executive Leadership Team members and other key personnel and talents within the BillerudKorsnäs Group.
In order to facilitate allotment of shares, the Annual General Meeting further decided to approve a transfer, free of charge, of no more than 374,825 BillerudKorsnäs shares held in treasury to the participants in LTIP 2020 after the end of the vesting period, that ends at publication of BillerudKorsnäs' interim report for the period January-March 2023.
Authorisation for the Board to resolve on repurchase of own shares
The Annual General Meeting authorised the Board, on one or several occasions until the next Annual General Meeting, to decide on acquisition of shares in an amount limited so that the holding of treasury shares does not exceed 10 per cent of all shares in the company, in order to optimise the capital structure of BillerudKorsnäs and safeguard the delivery of shares to the participants in the long-term incentive programmes.
Amendments to the articles of association
The Annual General Meeting decided to amend the articles of association, in order for the Board to be entitled to resolve that shareholders shall be able to cast their votes by post, as well as certain amendments to reflect changes in the Swedish Companies Act.
Other
Furthermore the Annual General Meeting decided to discharge the Board members and the CEO from personal liability for their administration for the year 2019, fees for the Board members and remuneration for committee work, fees to the auditor and to approve the Board's proposal regarding guidelines for remuneration to senior executives. The Annual General Meeting also decided to reject proposals from a shareholder.
For further information, please contact:
Andreas Mattsson, General Counsel, +46 (0) 72 585 16 78
The information was submitted for publication, through the agency of the contact person set out above, at 16:45 CET on 5 May 2020.