Ferronordic’s Annual General Meeting 2017
The annual general meeting in Ferronordic Machines AB was held on 19 Maj 2017 in Stockholm.
The meeting resolved in favour of all proposed matters in accordance with the proposals described in the notice. The most important resolutions are described below.
- A dividend of SEK 60 per preference share shall be paid to the company’s preference shareholders. The record date for the dividend is 25 October 2017. No decision was made regarding the potential preference share dividend in April 2018. No dividend shall be paid on the company’s ordinary shares.
- The income statement and balance sheet as well as the consolidated income statement and the consolidated balance sheet were adopted. The Board members and the CEO were discharged from liability for the financial year 2016.
- Magnus Brännström, Lars Corneliusson, Erik Eberhardson and Håkan Eriksson were re-elected as members of the Board. Annette Brodin Rampe and Staffan Jufors were elected new members of the Board.
- Staffan Jufors was elected new chairman of the Board.
- Fees to the Board members will be paid in a total amount of SEK 1,500,000.
- KPMG AB was re-elected as the company’s auditor for the period until the next annual general meeting. Fees to the auditor shall be paid according to agreement between the company and KPMG AB.
- Procedures were adopted regarding the election of the nomination committee and its work. The procedures provide, inter alia, that the four largest shareholders shall be invited to nominate members to the nomination committee. No fees shall be paid to the members of the nomination committee.
- Guidelines for remuneration to senior executives were adopted in accordance with the proposal.
- The Board’s proposal regarding a long-term incentive program for the group’s management was approved.
- The Board was authorized, until the next annual general meeting, to decide upon an issue of new ordinary shares and new ordinary shares of series 2. The authorisation to issue ordinary shares can only be used to issue ordinary shares in connection with a listing of the company’s ordinary shares on Nasdaq Stockholm or another regulated market.
About Ferronordic
Ferronordic is the authorized dealer of Volvo Construction Equipment and Terex Trucks in Russia. It is also the official distributor of Dressta and Rottne in Russia. Ferronordic has also been appointed aftermarket dealer for Volvo and Renault Trucks in certain parts of Russia. The company began its operations in 2010 and has expanded rapidly across Russia. The company is well established in all federal districts with approximately 70 outlets and almost 800 employees. The vision of Ferronordic is to be regarded as the leading service- and sales company in the CIS markets. The preference shares of Ferronordic Machines AB are listed on Nasdaq First North Premier. The company has appointed Avanza Bank AB as its Certified Advisor.
For more information, please contact:
Anders Blomqvist, CFO and Head of IR, Tel: +46 8 5090 7280 or anders.blomqvist@ferronordic.com
The annual general meeting in Ferronordic Machines AB was held on 19 Maj 2017 in Stockholm.
The meeting resolved in favour of all proposed matters in accordance with the proposals described in the notice. The most important resolutions are described below.
- A dividend of SEK 60 per preference share shall be paid to the company’s preference shareholders. The record date for the dividend is 25 October 2017. No decision was made regarding the potential preference share dividend in April 2018. No dividend shall be paid on the company’s ordinary shares.
- The income statement and balance sheet as well as the consolidated income statement and the consolidated balance sheet were adopted. The Board members and the CEO were discharged from liability for the financial year 2016.
- Magnus Brännström, Lars Corneliusson, Erik Eberhardson and Håkan Eriksson were re-elected as members of the Board. Annette Brodin Rampe and Staffan Jufors were elected new members of the Board.
- Staffan Jufors was elected new chairman of the Board.
- Fees to the Board members will be paid in a total amount of SEK 1,500,000.
- KPMG AB was re-elected as the company’s auditor for the period until the next annual general meeting. Fees to the auditor shall be paid according to agreement between the company and KPMG AB.
- Procedures were adopted regarding the election of the nomination committee and its work. The procedures provide, inter alia, that the four largest shareholders shall be invited to nominate members to the nomination committee. No fees shall be paid to the members of the nomination committee.
- Guidelines for remuneration to senior executives were adopted in accordance with the proposal.
- The Board’s proposal regarding a long-term incentive program for the group’s management was approved.
- The Board was authorized, until the next annual general meeting, to decide upon an issue of new ordinary shares and new ordinary shares of series 2. The authorisation to issue ordinary shares can only be used to issue ordinary shares in connection with a listing of the company’s ordinary shares on Nasdaq Stockholm or another regulated market.
About Ferronordic
Ferronordic is the authorized dealer of Volvo Construction Equipment and Terex Trucks in Russia. It is also the official distributor of Dressta and Rottne in Russia. Ferronordic has also been appointed aftermarket dealer for Volvo and Renault Trucks in certain parts of Russia. The company began its operations in 2010 and has expanded rapidly across Russia. The company is well established in all federal districts with approximately 70 outlets and almost 800 employees. The vision of Ferronordic is to be regarded as the leading service- and sales company in the CIS markets. The preference shares of Ferronordic Machines AB are listed on Nasdaq First North Premier. The company has appointed Avanza Bank AB as its Certified Advisor.
For more information, please contact:
Anders Blomqvist, CFO and Head of IR, Tel: +46 8 5090 7280 or anders.blomqvist@ferronordic.com
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