Stockholm, Sweden, April 29, 2010: Atlas Copco AB yesterday held its Annual General Meeting, chaired by Sune Carlsson, Chair of the Board of Directors.
The income statements and the balance sheets of the parent company and the Group were approved, together with the Board’s proposal for profit distribution.
The proposed dividend of SEK 3.00 per share was approved. Record day for the dividend is May 3, 2010, and the dividend is estimated to be distributed by Euroclear Sweden AB on May 6, 2010.
Ten Board members were elected: Sune Carlsson, Jacob Wallenberg, Staffan Bohman, Ulla Litzén, Anders Ullberg, Margareth Øvrum, Christel Bories, Johan Forssell and Ronnie Leten were re-elected. Gunilla Nordström was elected new member of the Board.
The Annual General Meeting re-elected Sune Carlsson as Chair of the Board, and Jacob Wallenberg as vice Chair.
The Board of Directors’ fee was resolved as follows:
An unchanged fee of SEK 1 500 000 to the chair, SEK 550 000 to the vice chair and SEK 450 000 to each other Board member not employed by the company. A fee to the members of the Audit Committee of SEK 200 000 (170 000) to the chair and SEK 125 000 (110 000) to the other members. A fee of SEK 60 000 to each of the members of the Remuneration Committee. A fee of SEK 60 000 to each Board member who, in addition to the above, participates in a committee in accordance with a decision of the Board of Directors.
The Annual General Meeting approved the suggestion allowing Board members to receive half of the Board fee in the form of synthetic shares and the remaining part in cash. The Board members have elected to accept this offer. The Annual General Meeting also approved that the obligation of the company to pay an amount corresponding to the synthetic shares shall be hedged through the purchase of own series A shares.
The Annual General Meeting approved the proposal of the Board of Directors regarding guiding principles for remuneration to senior executives and a performance stock option plan for 2010.
The Annual General Meeting authorized the Board to decide on the purchase of own shares, in order to fulfill obligations related to the performance stock option plan for 2010, and to the part of the Board fee that consists of synthetic shares. The Board was also granted a mandate to acquire up to maximum 5% of all issued shares, with the purpose to be able to continuously adapt the capital structure of the company. The Board was authorized to sell shares in order to fulfill obligations related to the performance stock option plans for 2006-2008.
The Annual General Meeting approved the Nomination Committee’s proposal that the registered audit company Deloitte AB be elected to be auditor until the end of the Annual General Meeting 2014, and noted that the authorized auditor Jan Berntsson will be main responsible for the audit.
The Annual General Meeting approved the proposal regarding the Nomination Committee and its tasks.
Statutory Board meeting
A statutory Board meeting was held after the Annual General Meeting. Ulla Litzén, Chair, Sune Carlsson, Staffan Bohman and Johan Forssell were re-elected to serve on the Audit Committee. Sune Carlsson, Chair, Jacob Wallenberg and Anders Ullberg were re-elected as members of the Remuneration Committee.
The speech to the shareholders by Atlas Copco’s President and CEO Ronnie Leten will be published on the Group's website: www.atlascopco.com/AGM, where also the minutes from the Annual General Meeting will be published.
For further information please contact:
Daniel Frykholm, Media Relations Manager
+46 (0)8 743 8060 or +46 (0)70 865 8060
Atlas Copco discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.