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 Board of Directors and the President & CEO were discharged from liability for the financial year 2015.
The proposed dividend of SEK 6.30 per share to be paid in two equal instalments of SEK 3.15 was approved. The record date for the first instalment is April 28, 2016 and for the second instalment it is October 31, 2016. The first instalment is expected to be distributed by Euroclear Sweden AB on May 3, 2016 and the second instalment on November 3, 2016.
Nine board members were elected. The following Board members were re-elected: Staffan Bohman, Johan Forssell, Ronnie Leten, Hans Stråberg, Anders Ullberg, Peter Wallenberg Jr and Margareth Övrum. Gunilla Berg and Sabine Neuss were newly elected. Hans Stråberg was re-elected as Chair of the Board.
The Board of Directors’ fee was approved as follows:
A fee of SEK 1,975,000 to the Chair and SEK 625,000 to each of the other Board members not employed by the Company. A fee to the members of the Audit Committee consisting of SEK 225,000 to the Chair and SEK 150,000 to the other members of this committee. To the Chair of the Remuneration Committee a fee of SEK 100,000 and fees of SEK 75,000 each to the other members of this 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 re-elected Deloitte AB as the Company’s auditing company.
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 based personnel option plan for 2016.
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 2016, 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 2011, 2012 and 2013, and to cover costs related to synthetic shares to the Board of Directors.
The Annual General Meeting decided that the Nomination Committee shall consist of the chairman of the Board and a representative from each of the four largest shareholders in terms of voting rights as per the last day of August each year.
A statutory Board meeting was held after the Annual General Meeting. Staffan Bohman, Chair, Gunilla Berg, Johan Forsell and Hans Stråberg were elected to serve on the Audit Committee. Hans Stråberg, Chair, Anders Ullberg and Peter Wallenberg Jr 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, http://www.atlascopcogroup.com/investor-relations/corporate-governance/annual-general-meeting/agm-2016
, where the minutes from the Annual General Meeting will also be published.