April 24, 2018
Stockholm, Sweden, April 24, 2018: Atlas Copco AB held its Annual General Meeting earlier today.
The income statements and the balance sheets of the parent company and the Group were approved. The Board of Directors and the President and CEO were discharged from liability for the financial year 2017.
The Annual General Meeting approved the proposal to distribute all shares in the wholly owned subsidiary Epiroc AB. A share in Atlas Copco AB will entitle to a share in Epiroc AB. Holders of a series A share in Atlas Copco AB will receive a series A share in Epiroc AB and holders of a series B share in Atlas Copco AB will receive a series B share in Epiroc AB. The Board was authorized to determine the record date. The distribution is planned to mid-June.
The Annual General Meeting decided that the ordinary dividend for 2017 will be SEK 7 per share and the record date will be April 26, 2018. The dividend payment is expected to be made on May 2.
The Annual General Meeting also decided for a mandatory share redemption, by a so called share split of 2:1, whereby each existing share will be split into two shares one of which will be a redemption share, a reduction of the share capital for repayment to the shareholders and an increase of the share capital by way of a bonus issue. Record day for the share split was decided to be May 11, 2018. Payment of the redemption amount, SEK 8 per redemption share, will be done on or about June 11, 2018 through Euroclear Sweden AB.
Trading in redemption shares will be possible on Nasdaq Stockholm between May 14 and June 1, 2018. The ISIN-code for the serie A redemption share will be SE0011166636 and for the serie B redemption share SE0011166644. The ISIN code for ordinary A-shares are SE0011166610 and for B-shares SE 0011166628.
The Annual General Meeting re-elected all the nine Board members: Gunilla Berg, Staffan Bohman, Tina Donikowski, Johan Forssell, Sabine Neuss, Mats Rahmström, Hans Stråberg, Anders Ullberg and Peter Wallenberg Jr. Hans Stråberg was re-elected Chair of the Board.
The Board of Directors’ fee was approved in accordance with the proposal in the notice to the Annual General Meeting.
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 2018 for Atlas Copco AB.
The Annual General Meeting authorized the Board to decide on the purchase and decided on the transfer of own series A shares, in order to fulfill obligations related to the performance stock option plan for 2018, and to the part of the board fee that consists of synthetic shares. The Board was authorized to sell A and B shares in order to fulfill obligations related to the performance stock option plans for 2013, 2014 and 2015, and to cover costs related to synthetic shares to members of the Board of Directors.
The proposal from the Board of Directors of Epiroc AB on a performance based personnel option plan for 2018 for Epiroc AB was approved by the Annual General Meeting. The Annual General Meeting authorized the Board of Epiroc AB to decide on the purchase and decided to transfer series A shares in Epiroc AB related to Epiroc AB’s personnel option plans for 2014-2018 as well as sell shares to cover costs in relation to the performance based personnel option plans for 2014 and 2015 that after the listing of Epiroc AB will relate to Epiroc AB.
Atlas Copco is a world-leading provider of sustainable productivity solutions. The Group serves customers with innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems. Atlas Copco develops products and services focused on productivity, energy efficiency, safety and ergonomics. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2017, Atlas Copco had revenues of BSEK 116 (BEUR 12) and about 47 000 employees.