Information from the 2010 AGM of H & M Hennes & Mauritz AB
On Thursday 29 April H & M Hennes & Mauritz AB held its Annual General Meeting under the chairmanship of lawyer Sven Unger. The AGM approved the dividend of SEK 16.00 per share in accordance with the Board of Directors’ proposal. The record day is 4 May 2010. The dividend is expected to be paid out by Euroclear Sweden AB (formerly VPC) on 7 May 2010.
The AGM discharged the members of the Board and the Managing Director from liability for the 2008/2009 financial year.
Regular Board members Mia Brunell Livfors, Lottie Knutson, Sussi Kvart, Bo Lundquist, Stefan Persson and Melker Schörling were re-elected by the meeting, which also elected to the Board the proposed new members Anders Dahlvig and Christian Sievert. Stig Nordfelt did not stand for re-election. The Board of Directors thus comprises eight members elected by the AGM, compared with seven in the previous year. Stefan Persson was re-elected as Chairman of the Board.
The regular members appointed previously by the trade unions are Margareta Welinder and Marianne Broman, with Tina Jäderberg and Agneta Ramberg as deputy members.
The AGM approved the proposal from the Election Committee that the Board fees for members elected by the AGM be left unchanged: Chairman of the Board SEK 1,350,000; members elected by the AGM SEK 375,000; members of the Auditing Committee an extra SEK 75,000; and the chairman of the Auditing Committee an extra SEK 125,000. As a result, the total Board fees amount to SEK 4,250,000. This is an increase of SEK 375,000 compared with the previous year because the Board has been expanded to include an additional member elected by the AGM.
The AGM approved the Election Committee’s proposed principles for the Election Committee and elected the members of the Election Committee for the period up to the appointment of a new Election Committee. The members of the Election Committee, which is based on shareholdings as at 28 February 2010, are Stefan Persson, Lottie Tham, Liselott Ledin (representing Alecta), Jan Andersson (representing Swedbank Robur Fonder) and Peter Lindell (representing AMF Pension).
The AGM approved the Board’s proposal concerning a share split, whereby each existing share is to be split into two shares of the same class, and the amendment of § 4 of the articles of association to the proposed wording. The AGM authorised the Board to decide the record date for the share split, this date being during the period 20 May – 18 June 2010.
The split will thus take place after the dividend has been paid. Shareholders do not need to make any application or to take any other action in connection with the split.
The AGM approved the resolution proposed by the Board concerning guidelines for remuneration to senior executives.
Contacts:
Nils Vinge, Head of Investor Relations +46 (0)70-796 52 50
Kristina Stenvinkel, Head of Communications +46 (0)70-796 54 40
The information in this press release is that which H & M Hennes & Mauritz AB (publ) is required to disclose under Sweden’s Securities Market Act. It was released for publication at 17:00 (CET) on 29 April 2010.