Today, Friday 29 April 2022, the Annual General Meeting of Lifco AB was held. With the support of the temporary law on exemptions to facilitate the conduct of general meetings, shareholders had also been offered the opportunity to exercise their voting rights by post. The following main resolutions were made:
In accordance with the proposal of the Board of Directors and the CEO, the Meeting resolved to declare a dividend of SEK 1.50 per share. 3 May 2022 was determined as record date for dividend.
Election of Board of Directors
Carl Bennet, Ulrika Dellby, Annika Espander, Dan Frohm, Erik Gabrielson, Ulf Grunander, Johan Stern, Caroline af Ugglas, Axel Wachtmeister and Per Waldemarson were re-elected members of the Board. Carl Bennet was re-elected Chairman of the Board.
Fees to the Board of Directors
It was resolved that remuneration to the Board of Directors shall amount to a total of SEK 6,760,000, excluding remuneration for Committee work, of which SEK 1,352,000 to the Chairman and SEK 676,000 to each of the other Board members elected by the Meeting who are not employees of Lifco Group. In addition, the Meeting resolved that work in the Audit Committee shall be compensated with SEK 268,000 to the Chairman and SEK 134,000 to each of the other members, while work in the Remuneration Committee shall be compensated with SEK 144,000 to the Chairman and SEK 89,000 to each of the other members.
Election of auditor
The registered public accounting firm PricewaterhouseCoopers AB was re-elected auditor of the company for a term of one year. PricewaterhouseCoopers has informed that Cecilia Andrén Dorselius will be the principal auditor. It was resolved that auditor fees shall be paid according to approved account.
The Meeting resolved to instruct the Chairman of the Board to convene a Nomination Committee for the AGM 2023, composed of representatives of the five largest shareholders in terms of votes based on a list of owner-registered shareholders from Euroclear Sweden AB or other reliable shareholder information as per 31 August 2022 plus the Chairman of the Board. In addition, a representative of the minority shareholders who is independent of the company and its major shareholders shall be included as a member of the Nomination Committee, if the Chairman of the Board in consultation with a representative of the largest shareholder in terms of voting rights find it appropriate.
The Meeting resolved to adopt the proposed principles for the Nomination Committee’s appointment and instructions for the Nomination Committee.
The Meeting approved the Board of Directors’ remuneration report.
Guidelines for remuneration to senior executives
The Meeting approved the Board of Directors’ proposal regarding guidelines for remuneration to senior executives.
The decisions can be read in full at www.lifco.se.
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Lifco offers a safe haven for small and medium-sized businesses. Lifco’s business concept is to acquire and develop market-leading niche businesses with the potential to deliver sustainable earnings growth and robust cash flows. Lifco is guided by a clear philosophy centred on long-term growth, a focus on profitability and a strongly decentralised organisation. The Group has three business areas: Dental, Demolition & Tools and Systems Solutions. At year-end 2021, the Lifco Group consisted of 198 operating companies in 31 countries. In 2021, Lifco reported EBITA of SEK 3.7 billion on net sales of SEK 17.5 billion. The EBITA margin was 21.2 per cent. Read more at www.lifco.se.