Cardo's AGM 2010

Cardo's AGM 2010

At Cardo's annual general meeting at Palladium in Malmö, Sweden, today April 7,
Cardo's President and CEO Peter Aru stated that 2009 had been a challenging year
and that the process of change to create an operative industrial group had been
further strengthened.  

“During 2009, we succeeded in adapting to the prevailing market situation and
changing our product and market mix at the same time as we further improved the
efficiency of our business. Net sales rose in China and the service offering
remained successful despite a challenging market.” 

Peter Aru emphasized that Cardo had improved its cash flow from operating
activities to SEK 1.4 billion after tax compared with slightly more than SEK 1
billion in 2008 and also commented on the market situation.

“There is still uncertainty as to the state of the economy. During 2010, we are
continuing to focus on profitability and margins while developing our
key-account concept and service offering and further strengthening the business
by creating two divisions.”

Board of directors
At the annual general meeting, Fredrik Lundberg was re-elected as Chairman of
the Board. Johnny Alvarsson, Peter Aru, Tuve Johannesson, Ulf Lundahl, Carina
Malmgren Heander and Lennart Nilsson were also re-elected as members of the
board. Katerina Martinson and Krister Mellvé were elected as new members of the
board. The meeting also resolved that the fee to be paid to the board shall
remain unchanged and consist of SEK 400,000 to the Chairman and SEK 200,000 to
each and every of the other Directors who are elected by a general meeting of
shareholders and not employed by the Group.

Dividend
In accordance with the proposal put forward by the board of directors, the
meeting also declared a dividend of SEK 9.00 per share. April 12 2010 was
established as the day of record for dividend and April 15 2010 as the payment
date. 

Guidelines for remuneration of senior management
In accordance with the proposal put forward by the board of directors, the
meeting passed a resolution on guidelines for the remuneration of senior
management principally in accordance with the guidelines adopted by a resolution
of the 2009 AGM, with less clarification in respect of the design of variable
remuneration and terms of notice as a result of the Company's adaptation to the
new Swedish Code of Corporate Governance.

Repurchase of shares
The board of directors was authorized to acquire up to so many own shares before
the next annual general meeting that the company's holding at no time exceeds 10
percent of all shares in the company. Acquisition is to be made on NASDAQ OMX
Stockholm at the market value applying on the occasion of acquisition. The
purpose of the repurchase is to give the board the opportunity to adjust the
capital structure of the company during the period until the next annual general
meeting. A similar authorization was provided at the 2007, 2008 and 2009 AGMs. 

Peter Aru's address and all other information concerning the annual general
meeting are available on Cardo's website at www.cardo.com. As of tomorrow, a
video recording of the President's speech will also be provided here.

Malmö, Sweden, April 7 2010
Cardo AB (publ)

For further information, please contact: 
Maria Bergving, SVP Communications and Investor Relations, tel +46 10 4747 405,
maria.bergving@cardo.com
Thomas Niklasson, Head of Investor and Public Relations, tel +46 10 4747 459,
thomas.niklasson@cardo.com


Cardo is a world-leading supplier of industrial doors and logistics systems,
wastewater treatment systems, process equipment for the pulp and paper industry
and garage doors. With sales of SEK 9 billion and approximately 5,500 employees
worldwide, Cardo delivers solutions that help to solve some the toughest
challenges of our time in the fields of water, transportation and energy.
Corporate headquarters are located in Malmö, Sweden.