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 2018.
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 29, 2019 and for the second instalment it is October 28, 2019. The first instalment is expected to be distributed by Euroclear Sweden AB on May 3, 2019 and the second instalment on October 31, 2019.
Nine board members were elected. The following Board members were re-elected: 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 as Chair of the Board.
The Board of Directors’ fee was approved as follows:
A fee of SEK 2,325,000 to the Chair and SEK 740,000 to each of the other Board members not employed by the Company. A fee to the members of the Audit Committee consisting of SEK 315,000 to the Chair and SEK 200,000 to the other members of this committee. To the Chair of the Remuneration Committee a fee of SEK 125,000 and fees of SEK 90,000 each to the other members of this committee and further fees of SEK 100,000 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 2019.
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 2019, 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 2014, 2015 and 2016, and to cover costs related to synthetic shares to the Board of Directors.
A statutory Board meeting was held after the Annual General Meeting. Staffan Bohman, Chair, Gunilla Berg, Johan Forssell and Hans Stråberg were re-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 Mats Rahmström will be published on the Group's website https://www.atlascopcogroup.com/se/investor-relations/corporate-governance/annual-general-meeting/agm-2019
where the minutes from the Annual General Meeting will also be published.