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2014-04-11

Björn Borg: Report from Björn Borg's Annual General Meeting 2014

The Annual General Meeting of Björn Borg AB was held at 5 pm on 10
April, 2014 at the company's offices in Stockholm.

The Annual General Meeting adopted the income statement and balance
sheet, the consolidated income statement and the consolidated balance
sheet for the year 2013. The Annual General Meeting resolved that no
dividend be paid to the shareholders for the year 2013. Instead of a
dividend, the Annual General Meeting resolved on a share redemption
program as set out below.

Directors
The Annual General Meeting resolved to re-elect the Directors Kerstin
Hessius, Fredrik Lövstedt, Mats H Nilsson and Isabelle Ducellier and
to elect Martin Bjäringer, Nathalie Schuterman and Anders Slettengren
as new Directors, meaning also that the total number of Directors
increased from six to seven. Vilhelm Schottenius and Michael
Storåkers declined re-election. The Meeting resolved to re-elect
Fredrik Lövstedt as Chairman of the Board of Directors. Further the
Meeting resolved that the remuneration to the Board shall be slightly
increased, which means that the Chairman of the Board receives SEK
350,000 (previously 325,000) and other Directors SEK 140,000
(previously 125,000) each. The Meeting also resolved that
remuneration to be paid to the Directors for work on board committees
would remain unchanged, at SEK 15,000 to each of the members of the
remuneration committee and SEK 25,000 to the Chairman of the
remuneration committee, and SEK 50 000 to each of the members of the
audit committee and SEK 75,000 to the Chairman of the audit
committee.

Auditors
The Annual General Meeting resolved to re-elect Deloitte AB for the
period until the end of the next Annual General Meeting. The Meeting
also decided that fair remuneration to the auditors shall be paid on
approved accounts.

Automatic share redemption procedure
The Annual General Meeting resolved on an automatic share redemption
procedure, including a share split 2:1, in accordance with proposal
by the Board of Directors. The proposal involves a distribution to
the shareholders of SEK 1.50 per existing share. The Annual General
Meeting authorized the Board of Directors to set the record date for
the share split, which is estimated to occur 24 April 2014. Payment
of the redemption amount is estimated to take place by 20 May 2014,
through Euroclear. ISIN code for redemption share is SE0003857457 and
for original share SE0005849437.

Authorization to resolve on new issues of shares, warrants and/or
convertibles

In accordance with the proposal by the Board of Directors, the Annual
General Meeting authorized the Board of Directors, until the next
Annual General Meeting, to resolve on new issues of shares, warrants
or convertibles on one or several occasions, with or without
deviation from the shareholders' preferential rights. The reasons for
deviating from the shareholders' preferential rights shall be to
enable directed share issues for the purpose of acquisitions
companies or businesses, in whole or in part, alternatively for
raising capital to be used for such acquisitions.

Guidelines for remuneration to the executive management
The Meeting adopted the Board of Directors' proposal regarding
guidelines for remuneration to the executive management, comprising
the managing director and the other individuals in the executive
management.

Nomination committee
The Annual General Meeting approved the nomination committee's
proposal regarding the nomination committee.

Other
The CEO gave a presentation and answered questions. The new CEO was
also introduced to the shareholders.

For further information, please contact:
Fredrik Lövstedt, Chairman of the Board, telephone: +46 708 59 54 80,
e-mail fredrik.lovstedt@bjornborg.com

Björn Borg is required to make public the information in this press
release in accordance with the Securities Market Act. The information
was released for publication on 11 April, 2014 at 8.00 a.m. (CET).

About Björn Borg
The Group owns the Björn Borg trademark and its core business is
underwear. It also offers sportswear and fragrances as well as
footwear, luggage & bags and eyewear through licensees. Björn Borg
products are sold in around thirty markets, of which Sweden and the
Netherlands are the largest. The Björn Borg Group has operations at
every level from branding to consumer sales in its own Björn Borg
stores. In total, there are 38 Björn Borg stores, of which 17 are
operated in the Group. Total sales of Björn Borg products in 2013
amounted to around SEK 1.5 billion at the consumer level. Group net
sales amounted to SEK 499 million in 2013, with 159 employees. The
Björn Borg share has been listed on NASDAQ OMX Nordic in Stockholm
since 2007.

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http://news.cision.com/bjorn-borg/r/report-from-bjorn-borg-s-annual-gene...
http://mb.cision.com/Main/897/9567903/232390.pdf

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