Annual General Meeting of B&B TOOLS AB held 25 August 2016
B&B TOOLS Decisions of annual general meeting Annual General Meeting of B&B TOOLS AB held 25 August 2016 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 5.00 per share. The record date for payment of the dividend was set as Monday, 29 August 2016. The dividend is expected to be distributed to shareholders by Euroclear Sweden AB on Thursday, 1 September 2016. Board of Directors The current Directors Roger Bergqvist, Anders Börjesson, Fredrik Börjesson, Charlotte Hansson, Henrik Hedelius and Gunilla Spongh were re-elected. Anders Börjesson was re-elected as Chairman of the Board. At the statutory Board meeting, the entire Board was appointed to serve as the Company’s Audit Committee. The Chairman and the Director Roger Bergqvist were appointed to serve as the Company’s Compensation Committee. A presentation of the Board’s Directors is available on the Company’s website at www.bbtools.com. Auditors The Annual General Meeting resolved to re-elect the registered accounting firm KPMG AB as the Company’s auditors for the period ending with the adjournment of the 2017 Annual General Meeting. KPMG has appointed the Authorised Public Accountant Matilda Axlind as Chief Auditor. 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 the guidelines for determining compensation and other terms of employment for the President & CEO and other members of Group management as proposed by the Board of Directors. Repurchase of own shares The Annual General Meeting (“AGM”) resolved in accordance with the Board’s motion to authorise the Board, on one or more occasions during the period until the next AGM, to acquire and divest shares in the Company. The purpose of such repurchases is to be able to adapt the Group’s capital structure and to pay for future acquisitions of businesses and operations using treasury shares. Holdings of treasury shares are also used to secure the Company’s obligations under the share-based incentive programmes adopted at the 2013 and 2014 AGMs. Acquisitions are to be carried out on Nasdaq Stockholm at a price that is within the registered price range at any given time, meaning the range between the highest purchase price and the lowest selling price. Acquisitions of own shares are limited so that the Company’s total holding of treasury shares at no time exceeds 10 percent of the total number of shares in the Company. Divestments of the Company’s treasury shares may be carried out with or without preferential rights for shareholders, but may not be carried out on Nasdaq Stockholm. Divestments may be carried out to finance acquisitions of businesses or operations. At the ensuing statutory Board meeting, the Board resolved to be able to exercise the mandate it had received from the AGM to repurchase shares in the Company. B&B TOOLS AB currently holds 340,000 Class B treasury shares, corresponding to 1.2 percent of the shares issued and 0.9 percent of the total number of voting rights. The total number of shares in B&B TOOLS AB, including the Company’s holding, amounts to 28,436,416. Information about the Annual General Meeting Further information about the Annual General Meeting is available on the Company’s website under: Corporate governance/General Meetings of Shareholders. Next report The Interim Report for the period 1 April – 30 September 2016 (6 months) will be published on 28 October 2016. Stockholm, 25 August 2016 B&B TOOLS AB (publ) The Board of Directors For further information, please contact: Ulf Lilius, President & CEO, B&B TOOLS AB, tel: +46 10-454 77 00 Mats Karlqvist, Head of Investor Relations, B&B TOOLS AB, tel: +46 70 660 31 32 This information is such that B&B TOOLS AB (publ) is obliged to make public pursuant to the Rulebook for Issuers on Nasdaq Stockholm. The information was submitted for publication at 18:30 p.m. CET on 25 August 2016.