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2014-04-28

Vattenfall: Vattenfall's 2014 Annual General Meeting

At Vattenfall AB's Annual General Meeting held on Monday, Chairman of
the Board Lars G Nordström described the current situation of the
company, while President and CEO Øystein Løseth presented
Vattenfall's 2013 operations. The annual general meeting elected
Fredrik Arp as a new member of Vattenfall's board.

The owner was represented by Erik Thedéen, State Secretary at the
Ministry of Finance, and Gustav Lidén, Special Adviser at the
Ministry of Finance.

Adoption of the income statement and balance sheet
The AGM adopted the income statement and balance sheet for Vattenfall
AB and the Vattenfall Group.

Dividends
The Board decided that no dividend is distributed to the shareholder
for the financial year.

Discharge of liability
The AGM decided to discharge the members of the Board and the CEO from
liability.

Guidelines for remuneration
The AGM decided to retain the principles for remuneration to senior
executives unchanged. The Board's proposed guidelines correspond to
the government's guidelines for terms of employment for senior
executives of state-owned enterprises, adopted by the government on
20 April 2009 (www.regeringen.se), with a deviation regarding how
these are to be applied in Vattenfall's subsidiaries.

Resolution on change of the Articles of Association
The AGM decided that the paragraph Name of the Company (§ 1) is
changed, so that the name of the company will be Vattenfall AB. The
shareholder further proposes that the following text is added in the
paragraph Board of Directors and Auditors (§ 6):

"Should the Chairman of the Board leave his assignment during the term
of office, the Board shall within itself elect a chairman for the
time until the conclusion of the shareholder's meeting during which a
new chairman is elected".

Remuneration to the Board and auditors
The AGM decided that unchanged fees for the time until the conclusion
of the next Annual General Meeting shall be payable in the amount of
SEK 580,000 for the Chairman of the Board and SEK 280,000 for each of
the other Board members elected by the AGM. For work in the
Remuneration Committee, the Audit Committee, the Safety and Risk
Committee and the External Relations and Ethics Committee, an
unchanged fee of SEK 60,000 shall be paid to the Committee Chairman
and SEK 45,000 to each of the other members. No fees shall be paid to
Board member who is employed at the Swedish Government Offices or to
employee representatives. The AGM decided that the fee for the
auditor's work shall be paid as per approved invoice.

Election of Board members and auditors
The AGM decided that the number of AGM-elected directors shall be
eight. Lars G Nordström (Chairman since June 2011) was re-elected as
Chairman of the Board until the conclusion of the next AGM. Eli
Arnstad, Gunilla Berg, Håkan Buskhe, Håkan Erixon, Jenny Lahrin, and
Åsa Söderström Jerring were re-elected. Fredrik Arp was elected new
member of the Board.

Ernst & Young AB was re-elected as auditor.

More information about the AGM may be found at
corporate.vattenfall.com

Vattenfall publishes the above information pursuant to the Swedish
Securities Market Act.

For more information, contact:
Vattenfall's Press Office, +46 (0)8-739 50 10, press@vattenfall.com

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http://news.cision.com/vattenfall/r/vattenfall-s-2014-annual-general-mee...
http://mb.cision.com/Main/865/9575534/237882.pdf

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