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2020-06-24

SinterCast Annual General Meeting 2020

Complementary information regarding resolutions

[Stockholm, 24 June 2020] – The SinterCast AB (publ) Annual General Meeting (AGM) was held on 23 June 2020 in Stockholm. In advance of the meeting, an abridged CEO presentation was posted on the SinterCast website. The pre-recorded presentation provided a summary of the progress achieved in 2019, an overview of recent market activities, and an outlook for the potential short-term and long-term market development. Dr Dawson commented on the current market uncertainty, but also expressed confidence in the installation outlook for 2020 and the long-term trend toward CGI. Dr Dawson also reiterated the company’s ambition to convene an Extraordinary General Meeting on or before 20 November to present a dividend proposal to shareholders.

During the AGM, Jan Åke Jonsson, Robert Dover, Jun Arimoto and Steve Dawson were re-elected as Board Members, with Mr Jonsson being reappointed as Chairman. Steve Gill and Åsa Källenius were elected as new Board members. The biographies of Mr Gill and Mrs Källenius are available on the SinterCast website. Caroline Sundewall and Lars Hellberg declined re-election and were thanked for their contributions.

The AGM also decided upon the constitution of the Nomination Committee until the next AGM, comprised of Victoria Skoglund (Chairman), Jan Åke Jonsson, Andrea Fessler, Aage Figenschou, and Carina Andersson. After serving SinterCast for 18 years; as a member of the Board; as Chairman of the Board; and most recently, as Chairman of the Nomination Committee, Ulla-Britt Fräjdin-Hellqvist declined re-election and was thanked for her longstanding dedication, support and service.

The AGM authorised the Board to acquire and dispose of SinterCast shares such that the company’s shareholding at any given time shall not exceed ten percent of the total shares in the company, and to transfer the number of SinterCast shares that the company holds at any given time, with a deviation from the shareholders’ pre-emptive rights. This authorisation enables the company to acquire its own shares so as to adapt the capital structure of the company at any given time and to be able to transfer shares in connection with the potential acquisition of a company or business.

All of the proposals presented to the AGM were approved by the shareholders. Specifically, Item 8 b, allocation of the result, was adopted such that there shall be no dividend at the present time and the parent company shall retain the non-restricted equity of SEK 103,444,232. The Board maintains the intention to convene an Extraordinary General Meeting in the autumn to decide upon the dividend for the financial year 2019. Item 10, remuneration of the Board members and the auditor, was also adopted such that, for the period until the next Annual General Meeting, the remuneration for the Chairman shall remain unchanged at SEK 390,000 and the remuneration for the other ordinary Board members shall remain unchanged at SEK 180,000. There shall be no remuneration for the Managing Director and the auditor shall be paid against approved invoice. Finally, Item 13, guidelines for remuneration to senior executives, was adopted in its entirety.

For and on behalf of the Board of Directors:
Dr. Steve Dawson
President & CEO
SinterCast AB (publ)
Mobile: +44 771 002 6342
e-mail: steve.dawson@sintercast.com

SinterCast is the world’s leading supplier of process control technology for the reliable high volume production of Compacted Graphite Iron (CGI). With at least 75% higher tensile strength, 45% higher stiffness and approximately double the fatigue strength of conventional grey cast iron and aluminium, CGI allows engine designers to improve performance, fuel economy and durability while reducing engine size, weight, noise and emissions. The SinterCast technology is used for the production of petrol and diesel engine cylinder blocks and exhaust components for passenger vehicles, medium-duty and heavy-duty cylinder blocks and heads for commercial vehicles, and industrial power engine components for agriculture, marine, rail, off-road and stationary engine applications. SinterCast supports the series production of components ranging from 2.7 kg to 9 tonnes, all using the same proven process control technology. As a specialist supplier of precision measurement and process control solutions to the metals industry, SinterCast also supplies the SinterCast Ladle Tracker® and SinterCast Cast Tracker® technologies, to improve process control, productivity and traceability in a variety of applications. With 57 installations in 14 countries, SinterCast is a publicly traded company, quoted on the Small Cap segment of the Nasdaq Stockholm stock exchange (SINT). For more information: www.sintercast.com

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