April 30, 2014
Stockholm, Sweden, April 30, 2014: Atlas Copco AB on Tuesday April 29 held its Annual General Meeting, chaired by Sune Carlsson, who as previously communicated has declined re-election to 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 5.50 per share was approved. Record day for the dividend is May 5, 2014, and the dividend is estimated to be distributed by Euroclear Sweden AB on May 8, 2014.
Nine board members were re-elected: Staffan Bohman, Johan Forssell, Ronnie Leten, Ulla Litzén, Gunilla Nordström, Hans Stråberg, Anders Ullberg, Peter Wallenberg Jr and Margareth Øvrum. Hans Stråberg was elected Chair of the Board.
The Board of Directors’ fee was approved as follows:
A fee of SEK 1,900,000 (1,850,000) to the Chair and SEK 570,000 (555,000) to each of the other seven Board members not employed by the company. A fee to the members of the Audit Committee consisting of SEK 225,000 (200,000) to the Chair and SEK 150,000 (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 proposal 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 elected Deloitte AB as the company’s audit company with Jan Berntsson as the responsible auditor. Deloitte was elected to the end of the Annual General Meeting 2015.
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 2014.
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 2014, 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 2009, 2010 and 2011, and to cover costs related to synthetic shares to the Board of Directors.
Statutory Board Meeting
A statutory Board meeting was held after the Annual General Meeting. Ulla Litzén, Chair, Staffan Bohman, Johan Forssell and Hans Stråberg were re-elected to serve on the Audit Committee. Hans Stråberg, Chair, Anders Ullberg and Peter Wallenberg Jr were 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.
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