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2016-05-19

Ferronordic Machines AB: Ferronordic Machines AB (publ) Annual General Meeting 2016

Press Release

Stockholm, 19 May 2016

The annual general meeting in Ferronordic Machines AB (publ) was held
on 19 Maj 2016 at 7A Strandvägen, Conference & Events in Stockholm.

The meeting resolved in favor of all proposed matters in accordance
with the proposals described in the notice to the meeting. The most
important resolutions are described below.

· For the time being, no dividends shall be paid on the company's
preference shares. Further, no dividends 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 2015.

· Magnus Brännström, Lars Corneliusson, Erik Eberhardson, Per-Olof
Eriksson, Martin Leach and Kristian Terling were re-elected as
members of the board. Håkan Eriksson was elected new member of the
board. Per-Olof Eriksson was re-elected as chairman of the board.

· Fees to the board members will be paid in a total amount of SEK
2,000,000.

· 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.

· A new long-term incentive program for the group's executive and
extended management teams 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 OMX Stockholm or another
regulated market.

About Ferronordic Machines

Ferronordic Machines is the authorized dealer of Volvo Construction
Equipment and Terex Trucks in Russia. The company began its
operations in June 2010 and has expanded rapidly across Russia and is
today well established in all federal districts with 65 outlets and
almost 700 employees. In addition to distributing and providing
aftermarket support to Volvo Construction Equipment machines, the
company has also been appointed aftermarket dealer for Volvo and
Renault Trucks as well as dealer for Volvo Penta in certain parts of
Russia. The company has also signed up some other high quality brands
such as Logset and several attachment manufacturers. The vision of
Ferronordic Machines is to be regarded as the leading service- and
sales company in the CIS markets. The preference shares of
Ferronordic Machines are listed on NASDAQ OMX First North Premier.
The company has appointed Avanza Bank AB as its Certified Advisor.

http://www.ferronordic.ru

For more information, please contact:

Anders Blomqvist, CFO and Head of IR, Tel: +46 8 5090 7280
pr@ferronordic.ru

Ferronordic Machines discloses the information herein pursuant to the
Securities Markets Act and/or the Financial Instruments Act. The
information was submitted for publication on 19 May 2016, 16:30 CET.

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http://news.cision.com/ferronordic-machines-ab/r/ferronordic-machines-ab...
http://mb.cision.com/Main/1463/2012031/518262.pdf

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