At Eastnine's Annual General Meeting (AGM) 2020, decisions were made on, among other things, dividend, a new Board of Directors and a long-term incentive program in accordance with the proposals presented.
Resolution of the Meeting (in summary):
The Board members and the CEO were discharged from liability for the financial year 2019.
Liselotte Hjorth, Peter Elam Håkansson and Peter Wågström were re-elected as Board members and Christian Hermelin and Ylva Sarby Westman were elected as new members. Liselotte Hjorth was elected Chairman of the Board. Fees to the Chairman of the Board were set at SEK 800,000 and to other members of the Board SEK 400,000 per Board member. No additional remuneration shall be paid for committee work.
The registered accounting firm KPMG, with the authorized public accountant Peter Dahllöf as auditor in charge, was re-elected as auditor until the end of the AGM 2021. Fees shall be paid to the auditor according to approved invoice.
Dividends to the shareholders shall be paid in an amount corresponding to SEK 2.70 per share. The dividend is distributed on two payout occasions of SEK 1.35 per share each. Dividend record dates are May 14 and November 16, respectively, 2020. Dividends are expected to be paid through Euroclear Sweden on May 19 and November 19, respectively, 2020.
Guidelines for remuneration to senior executives in Eastnine were established in accordance with the Board's proposal.
The Board of Directors was authorized to decide on transfer and acquisition of treasury shares, on one or several occasions, until the next AGM. Transfer may be made to Nasdaq Stockholm or otherwise. Acquisition of own shares may amount to a maximum of so many shares that the company's holding of own shares at any time does not exceed 10 percent of all shares in the company.
The AGM resolved to introduce a long-term incentive program (LTIP 2020) aimed at employees in the Group in accordance with the Board's proposal. The purpose of LTIP 2020 is to promote shareholder value and the company's long-term value creation by creating the conditions for retaining and recruiting competent personnel, increasing the motivation among the participants, promoting their own shareholding and increasing the interest community between the participants and the company's shareholders.
According to LTIP 2020, the employees can receive a maximum of 65,000 shares in the company, provided certain vesting conditions are met. In order to ensure the delivery of shares in accordance with LTIP 2020, the AGM resolved that a maximum of 65,000 own shares be transferred to the participants in accordance with the proposed terms. The company will not issue any new shares as a result of LTIP 2020 but intends to use up to 85,000 own shares for delivery to participants and for hedging costs for LTIP 2020. The costs for LTIP 2020 are expected to have a marginal effect on the Group's key figures.
Eastnine AB (publ)
For more information contact:
Kestutis Sasnauskas, CEO, +46 8 505 97 700
Britt-Marie Nyman, CFO and deputy CEO, +46 70 224 29 35
Eastnine AB is a Swedish real estate company with a property value of EUR 288m and a net asset value of EUR 255m as of March 31, 2020. Eastnine's vision is to create and provide prime venues where ideas can flow, people can meet, and successful business can be developed. The mission is that Eastnine shall be the leading long-term provider of modern and sustainable office premises in prime locations in the Baltic capitals. Eastnine is listed on Nasdaq Stockholm Mid Cap, sector Real Estate.