STOCKHOLM, Sweden, April 24, 2003 (PRIMEZONE) -- Today's Annual General Meeting of Nordea AB (publ) (Other OTC:NRDAF) (Other OTC:NRDEF) approved the income statement and balance sheet for 2002. The General Meeting decided on a dividend payment in the amount of EUR 0.23 per share and that the record date would be 29 April 2003. Payment is expected to be made on May 7 2003.
The Board and the President were discharged from liability for the year 2002.
Gunnel Duveblad, Birgitta Kantola and Lars G Nordstrom were elected members of the Board for a period of two years. Gunnel Duveblad, born 1955, is the managing director of EDS North Region, which comprises Denmark, Finland, Norway, Sweden, Belgium, the Netherlands and Luxembourg. Birgitta Kantola, born 1948, is a financial consultant and a board member of Fortum Abp, Vasakronan AB and Akademiska Hus AB. Lars G Nordstrom, born 1943, is President and Chief Executive Officer of Nordea.
Harald Arnkvaern, Claus Hoeeg Madsen and Timo Peltola were reelected as Board members for a period of two years. Dan Andersson and Edward Andersson declined reelection.
Consequently, the Board now comprises the following persons: Kjell Aamot, Harald Arnkvaern, Hans Dalborg, Gunnel Duveblad, Birgitta Kantola, Claus Hoeeg Madsen, Bernt Magnusson, Lars G Nordstrom, Joergen Hoeeg Pedersen, Timo Peltola and Maija Torkko. At the subsequent constituent meeting of the Board Hans Dalborg was elected Chairman of the Board.
KPMG Bohlins AB were reelected as auditors for the time period up to the Annual General Meeting 2007.
The General Meeting decided to establish a nomination committee for the period up to the next Annual General Meeting. The purpose of the nomination committee is to put forward proposals before the next General Meeting for decisions on election of Board members and auditors, as well as remuneration to the aforementioned. The nomination committee will comprise the chairman of the Board and a minimum of three and a maximum of five additional members. The three shareholders, with the largest holdings in the Company, are entitled to appoint one member each. In addition, the chairman and the three other members are entitled to appoint a further one or two members for the purpose of promoting a composition of the committee that as far as possible reflects the overall distribution of shares in Nordea.
Moreover, the General Meeting decided to reduce the share capital by EUR 22,593,410.56. After reduction the share capital will amount to EUR 1,160,460,823.12. The reduction will be implemented through retirement, without repayment, of the 57,008,000 shares that have been repurchased and are held by Nordea. The reduction amount will be allocated to a fund to be used in accordance with decisions by the General Meeting.
The General Meeting decided to authorise the Board, for a maximum time period extending until the next General Meeting, to decide on the conveyance of the Company's own shares on stock exchanges where the shares are listed, or according to acquisition offers to all of the Company's shareholders. Total acquisitions may amount to one tenth of all of the shares in the Company. The purpose of acquisition is to convey funds back to the Company's shareholders and in this way contribute to more effective utilisation of the Company's resources. Acquisitions will be paid from a fund set up for this purpose pursuant to decisions taken by the General Meetings of 19 November 1999, 11 April 2000 and 24 April 2003.
For further information:
Erik Evren, Chief Communication Officer, +46 8 614 8611
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http://www.waymaker.net/bitonline/2003/04/24/20030424BIT02070/wkr0001.doc
http://www.waymaker.net/bitonline/2003/04/24/20030424BIT02070/wkr0002.pdf