Ericsson's Annual General Meeting 2017
(Thomson Reuters ONE) -
Telefonaktiebolaget LM Ericsson's (NASDAQ:ERIC) Annual General Meeting (AGM) was
held on March 29, 2017 in Kista/Stockholm.
Dividend
The proposed dividend of SEK 1 per share was approved by the AGM. The record day
for dividend was set to Friday, March 31, 2017. Payment from Euroclear Sweden AB
is expected to take place on Wednesday, April 5, 2017.
Adoption of the Profit and Loss Statements and the Balance Sheets
The AGM resolved to adopt the Profit and Loss Statement and the Balance Sheet
for the Parent Company as well as the Consolidated Profit and Loss Statement and
the Consolidated Balance Sheet for the Group for 2016.
Discharge from liability
The members of the Board of Directors and the Presidents were discharged from
liability for the fiscal year 2016.
Board of Directors
The AGM elected Board members in accordance with the proposal of the Nomination
Committee. Leif Johansson was re-elected Chairman of the Board of Directors.
Nora Denzel, Börje Ekholm, Kristin Skogen Lund, Kristin S. Rinne, Sukhinder
Singh Cassidy, Helena Stjernholm and Jacob Wallenberg were re-elected to the
Board. Jon Fredrik Baksaas, Jan Carlson and Eric A. Elzvik were elected new
Board members. Ulf J. Johansson left the Board in connection with the AGM. It
was also noted that the unions have appointed Kjell-Åke Soting, Roger Svensson
and Karin Åberg employee representatives in the Board with Torbjörn Nyman,
Anders Ripa and Loredana Roslund as deputies. The employee representatives Pehr
Claesson, Mikael Lännqvist and Zlatko Hadzic (deputy) left the Board in
connection with the AGM.
Board of Directors' Fees
The AGM resolved on fees to the Board of Directors, in accordance with the
Nomination Committee's proposal. Unchanged yearly fee to the Chairman of the
Board of SEK 4,075,000, and unchanged fees to other non-employee members of the
Board, elected by the AGM, of SEK 990,000 each. Fees for Committee work to non-
employee members of the Committees, elected by the AGM, were approved as follows
(unchanged): SEK 350,000 to the Chairman of the Audit Committee and SEK 250,000
to each of the other members of the Audit Committee, SEK 200,000 to each of the
Chairmen of the Finance and Remuneration Committee and SEK 175,000 to each of
the other members of the Finance and Remuneration Committee. Further, it was
resolved that fees shall be paid for Committee work to non-employee members of
the new established Technology and Science Committee as follows: SEK 200,000 to
the Chairman and SEK 175,000 each to the other Committee members.
The AGM approved the Nomination Committee's proposal to enable payment of part
of the fees to the members of the Board for the Board assignment, in the form of
synthetic shares.
Auditor
The AGM re-elected PricewaterhouseCoopers AB auditor for the period up until the
end of the AGM 2018.
Guidelines for remuneration to Group Management
In accordance with the Board of Directors' proposal, the AGM resolved to approve
the guidelines for remuneration to Group Management.
Long-Term Variable Compensation Program (LTV)
In accordance with the Board of Directors' proposals, the AGM resolved as
follows:
LTV 2017 and transfer of treasury stock, directed share issue and acquisition
offer
* Implementation of LTV 2017 for the executive team, comprising a maximum of
3 million B shares in Ericsson. Awards of "Performance Share Awards" will be
granted free of charge entitling the participant to receive a number of
shares, free of charge, following the expiration of a three-year period,
provided that certain performance conditions are met and that the
participant retains his or her employment. The performance conditions are
based on TSR (total shareholder return) development during a three-year
period; absolute TSR-development and relative TSR-development.
* A directed issue of 3 million C shares to Investor AB or subsidiaries of
Investor AB, at a subscription price corresponding to the ratio value of the
share, i.e. SEK 5.
* Authorization for the Board of Directors to, prior to the AGM 2018, resolve
on an acquisition offer of the 3 million C shares at a price per share of
SEK 5. Following the acquisition, the C shares will, in accordance with the
articles of association, be converted to B shares, which thereafter can be
transferred to employees and on an exchange.
* Transfer of up to 2.2 million B shares, free of consideration, to employees
covered by the terms of the LTV 2017.
* Transfer of up to 800,000 B shares on Nasdaq Stockholm, prior to the AGM
2018, at a price within the, at each time, prevailing price interval for the
share, to cover certain expenses, mainly social security charges.
The Company has approximately 3.3 billion shares in issue. The 3 million B
shares allocated for LTV 2017 correspond to approximately 0.1 percent of the
total number of outstanding shares.
Transfer of treasury stock for previously resolved LTV programs
* Transfer of up to approximately 19.3 million B shares on Nasdaq Stockholm
prior to the AGM 2018 to cover certain expenses, mainly social security
charges, which may occur in relation to previously resolved and ongoing LTV
programs; LTV 2013, LTV 2014, LTV 2015 and LTV 2016.
NOTES TO EDITORS MORE INFORMATION AT:
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resolution photos, please visit
www.ericsson.com/press media.relations(at)ericsson.com
(+46 10 719 6996)
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Ericsson is a world leader in communications technology and services with
headquarters in Stockholm, Sweden. Our organization consists of more than
111,000 experts who provide customers in 180 countries with innovative solutions
and services. Together we are building a more connected future where anyone and
any industry is empowered to reach their full potential. Net sales in 2016 were
SEK 222.6 billion (USD 24.5 billion). The Ericsson stock is listed on Nasdaq
Stockholm and on NASDAQ in New York. Read more on www.ericsson.com.
Ericsson Annual General Meeting 2017:
http://hugin.info/1061/R/2091971/790496.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ericsson via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 29.03.2017 - 18:23 Uhr
Sprache: Deutsch
News-ID 533244
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