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April 30, 2012
Stockholm, Sweden, April 30, 2012: Atlas Copco AB on Friday April 27 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 5.00 per share was approved. Record day for the dividend is May 3, 2012, and the dividend is estimated to be distributed by Euroclear Sweden AB on May 8, 2012.
Nine board members were elected: Sune Carlsson, Staffan Bohman, Ulla Litzén, Anders Ullberg, Margareth Øvrum, Johan Forssell, Gunilla Nordström and Ronnie Leten were re-elected. Peter Wallenberg Jr was elected new member of the Board.
The Annual General Meeting re-elected Sune Carlsson as Chair of the Board.
The Board of Directors’ fee was approved as follows:
A fee of SEK 1 800 000 (1 750 000) to the chair and SEK 540 000 (525 000) to each other Board member not employed by the company. An unchanged fee to the members of the Audit Committee, at SEK 200 000 to the Chair and SEK 125 000 to the other members of this committee. Unchanged fees of SEK 60 000 to each of the members of the Remuneration Committee. Unchanged fees 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 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 (CEO and other members of Group management) and a performance stock option plan for 2012.
The Annual General Meeting authorized the Board to decide on the purchase and transfer of own series A shares, in order to fulfill obligations related to the performance stock option plan for 2012, and to the part of the board fee that consists of synthetic shares. The Board was authorized to sell shares in order to fulfill obligations related to the performance stock option plans for 2007, 2008 and 2009, and to cover costs related to synthetic shares to the Board of Directors.
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, and Anders Ullberg were re-elected as members of the Remuneration Committee. Peter Wallenberg Jr was elected new member 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.