Bulletin from Gunnebo AB's Annual General Meeting, April 28 2011 Adoption of the profit and loss statement and balance sheet The profit and loss statements and the balance sheets of the parent company and the Group were approved. Dividend In accordance with the proposal of the Board and the President, it was decided on a dividend to the shareholders of SEK 0.50 per share (previous year SEK 0) and that Tuesday, May 3, 2011, shall be the record date for receipt of the dividend. Election of the Board of Directors Martin Svalstedt, Göran Bille, Bo Dankis, Björn Eriksson, Mikael Jönsson and Katarina Mellström were re-elected as ordinary members of the Board of Directors. Martin Svalstedt was re-elected as Chairman of the Board. Board fees The AGM decided on a total fee to the Board of Directors for 2011 amounting to SEK 1,575,000, to be divided with SEK 450,000 to the Chairman of the Board (including remuneration for committee work) and with SEK 225,000 to each of the other Board members elected by the shareholders, and a special fee of a maximum of SEK 200,000 as compensation for committee work. Nomination Committee The AGM approved the proposal presented regarding the Nomination Committee and its tasks. Principles for remuneration to senior executives The AGM approved the Board's proposal regarding principles for remuneration to senior executives. Incentive programme 2011/2015 The AGM decided to implement the Incentive Programme 2011/2015 through an issue of a maximum of 575,000 warrants with the right to subscribe for new shares in Gunnebo AB. The warrants shall be transferred at market price to 49 senior executives and key employees within the Gunnebo Group. Amendment of Articles of Association The AGM approved the Board's proposal to change the first sentence in item ii) of § 9 in the Articles of Association. The new wording is: “Notice convening the Annual General Meeting shall be given by means of an announcement in Post- och Inrikes Tidningar and on the company's website. The fact that the notice has been issued shall be announced in Dagens Industri and Göteborgs-Posten.” Comments from President's adress to the AGM “2010 has been an eventful year for Gunnebo. We have continued to focus on the Get It Right programme, implemented a new business strategy, reduced the Group's fixed costs, improved margins, and carried out measures that have strengthened our equity ratio and maintained a strong cash flow, which has improved the Group's financial position. The Group's business showed stable development in 2010. Order intake for Business Line Bank showed good growth and increased organically by 11%. Retail and Secure Storage reported organic improvements in order intake of 8% and 7% respectively, while the corresponding figure for continuing operations in Site Protection was an organic decrease of 4%. The new strategy focuses on our core businesses Bank Security & Cash Handling, Entrance Control, Secure Storage and Services. This means focus on profitable businesses, businesses we are good at and businesses whith growth opportunities, both locally and globally. Another important part of the strategy is product development, which should further strengthen the Group's offering. In light of the new strategy, in 2010 we have also established an operation for sales, procurement and production in China, acquired API's Security Products division in Australia - which doubled our net sales on this market - and divested Troax. Focus for 2011 will be strategy execution. Important factors for success are a proactive management and to continue to grow the Group's business, production and purchasing outside Europe. Growth will come from the underlying business as well as from acquisitions and geographic expansion.” Gothenburg, April 28, 2011 GUNNEBO AB (publ) Group Communications For further information, please contact: Per Borgvall, President & CEO, tel: +46 31 83 8 00, or Fredrik Östman, CFO tel: +46 31 83 8 00, or Karin Wallström, IR & Communication Director, tel: +46 10 2095 026 or e-mail: karin.wallstrom@gunnebo.com (karin.wallstrom@gunnebo.com) www.gunnebo.com Gunnebo discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 18.08 CET on April 28, 2011.
Bulletin from Gunnebo AB's Annual General Meeting, April 28 2011
| Source: Gunnebo AB