Bli medlem
Bli medlem

Du är här

2016-05-20

Björn Borg: Report from Björn Borg's Annual General Meeting 2016

The Annual General Meeting of Björn Borg AB was held at 5.30 p.m. CET
on 19 May 2016 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 2015. The Annual General Meeting resolved that no
dividend be paid to the shareholders for the year 2015. 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 Fredrik
Lövstedt, Mats H Nilsson, Martin Bjäringer and Heiner Olbrich and to
elect Christel Kinning, Lotta de Champs and Petra Stenqvist as new
Directors, meaning also that the total number of Directors remains
seven. Kerstin Hessius, Isabelle Ducellier and Nathalie Schuterman
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 raised, which
means that the Chairman of the Board receives SEK 375,000 and other
Directors SEK 150,000 each. The Meeting also resolved that
remuneration to be paid to the Directors for work on board committees
shall be raised, which means SEK 16,000 to each of the members of the
remuneration committee and SEK 27,000 to the Chairman of the
remuneration committee, and SEK 55 000 to each of the members of the
audit committee and SEK 80,000 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 procedure means a distribution to the
shareholders of SEK 2.00 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 30 May 2016. Payment of
the redemption amount is estimated to take place by 22 June 2016,
through Euroclear. ISIN code for redemption share is SE0003857457 and
for original share SE0008242002.

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
and/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 of
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.

For further information, please contact:

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

The information contained in this press release is such that the
company is required to disclose in accordance with the Swedish
Securities Markets Act and/or the Swedish Financial Instruments
Trading Act. The information was released for publication on 20 May,
2016 at 8.00 a.m. (CET).

Daniel Grohman, CFO

daniel.grohman@bjornborg.com

Phone: +46 85 06 337 00

The Group owns the Björn Borg trademark and its core business is
underwear and sportswear. It also offers footwear, bags and eyewear
through licensees. Björn Borg products are sold in around twenty
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. Total sales of Björn
Borg products in 2015 amounted to about SEK 1.4 billion, excluding
VAT, at the consumer level. Group net sales amounted to SEK
approximately 574 million in 2015, with an average of 132 employees.
The Björn Borg share has been listed on NASDAQ Stockholm since 2007.

-----------------------------------------------------------
http://news.cision.com/bjorn-borg/r/report-from-bjorn-borg-s-annual-gene...
http://mb.cision.com/Main/897/2012012/518441.pdf

Författare WKR

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.