Annual General Meeting of B&B TOOLS AB 25 August 2011
25.08.2011
At the Annual General Meeting and the ensuing statutory Board of Directors Meeting of B&B TOOLS AB today, resolutions passed included the following: Dividend The Annual General Meeting approved a dividend of SEK 3.00 per share. The record date for payment of the dividend was set as 30 August 2011. The dividend is expected to be distributed to shareholders by Euroclear Sweden AB on 2 September 2011. Board of Directors Per Axelsson, Anders Börjesson, Tom Hedelius, Anita Pineus and Stefan Wigren were re-elected as Directors. Joakim Rubin was elected as a Director. Tom Hedelius was re-elected as Chairman. A presentation of the members of the Board of Directors is available on the Cmpany's website www.bb.se At the ensuing statutory Board meeting, Anders Börjesson was appointed Vice Chairman. At the statutory Board meeting, the entire Board, with the exception of the President & CEO and employee representatives, was elected to serve as the Company's Audit Committee. The Chairman, the Vice Chairman and the President & CEO were appointed to serve as the Company's Compensation Committee. Auditors The registered auditing firm of KPMG AB was re-elected by the Annual General Meeting as auditors for the period ending with the adjournment of the 2012 Annual General Meeting (with Authorised Public Accountant George Pettersson as Chief Auditor). Election Committee The Annual General Meeting resolved to instruct the Chairman of the Board to contact the largest shareholders in terms of voting rights not later than 31 January 2012, asking them to appoint four members to serve, together with the Chairman, as an Election Committee. Selection of shareholders to be contacted shall be based on the shareholder register as of 31 December 2011. The Election Committee shall appoint a Chairman from among its members. The composition of the Election Committee shall be announced not later than six months prior to the 2012 Annual General Meeting. In the event that a member of the Election Committee resigns or is prevented from fulfilling the assignment, the remaining members, if the Election Committee so decides, shall appoint a suitable replacement to the Election Committee for the remaining period in office. In the event that a member of the Election Committee or the owner represented by that member has significantly reduced his or her ownership in the Company at the time of the Election Committee's meetings held in preparation for the upcoming Annual General Meeting, the members of the Election Committee shall determine whether the composition of the Election Committee should be changed. Adoption of guidelines for determining compensation and other terms of employment for the President & CEO and other members of Group management The Annual General Meeting resolved to adopt guidelines for determining compensation and other terms of employment for the President & CEO and other members of Group management in accordance with the motion of the Board of Directors. Next report The Interim Report for the period from 1 April to 30 September 2011 (six months) will be published on 10 November 2011. Stockholm, 25 August 2011 B&B TOOLS AB (publ) The Board of Directors For further information, contact: Stefan Wigren, President & CEO, B&B TOOLS AB, telephone +46 8 660 10 30 Mats Karlqvist, Vice President - Investor Relations, B&B TOOLS AB, telephone +46 70 660 31 32 UNITED FOR INDUSTRIAL EFFICIENCY B&B TOOLS provides the industrial and construction sectors in northern Europe with industrial consumables, industrial components and related services. The Group has annual revenue of approximately SEK 8 billion and approximately 2,800 employees. This information is published in accordance with the Securities Market Act, the Financial Instruments Trading Act or requirements stipulated in the regulations for issuers. Annual General Meeting of B&B TOOLS AB 25 August 2011: http://hugin.info/1026/R/1541296/471518pdf This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: B&B TOOLS AB via Thomson Reuters ONE [HUG#1541296]