KappAhl: Annual General Meeting Statement
(Thomson Reuters ONE) - * Re-election of all five Board members * Instructions for Nomination Committee * Renumeration policy for the management teamKappAhl Holding AB (publ) held its Annual General Meeting at 10 a.m.on 25 November 2009 in Mölndal, Sweden.The income statement and balance sheet and consolidated incomestatement and balance sheet were adopted and the meeting dischargedBoard members and the CEO from liability for the financial year.All five Board members were re-elected in accordance with therecommendation of the Nomination Committee. Finn Johansson waselected chairman of the Board. The meeting elected the following asBoard members: Finn Johnsson, Amelia Adamo, Paul Frankenius, JanSamuelson and Pernilla Ström.The meeting agreed to the Nomination Committee's proposal that thefee to Board members and its committees shall be unchanged andaccordingly amount to SEK 1,495,000. This fee shall be divided asfollows: SEK 495,000 to the chairman and SEK 180,000 to the othermembers elected by the meeting. The chairman of the Audit Committeeshall receive SEK 145,000 and the other member of the Audit Committeeshall receive SEK 95,000. The chairman of the Salary Committee shallreceive SEK 30,000 and the other member of the Salary Committee shallreceive SEK 10,000.The Nomination Committee's proposal for instruction and workingprocedure for the Nomination Committee was accepted. The NominationCommittee shall comprise three ordinary members who will representthe three largest shareholders as of 30 April. If any of the threelargest shareholders waives the right to appoint a representative,the Chairman shall invite the next shareholder in order of size todesignate a representative until the Nominations Committee consistsof three members. In case of significant changes in ownership takingplace earlier than six weeks before the Annual General Meeting, theChairman of the Board will contact that of the three largestshareholders who do not have a representative. The term "threelargest shareholders" refers here to shareholders registered withEuroclear and grouped by ownership which have notified the company ofthe size of their holding and their interest in participating in theNominations Committee.The meeting agreed to that a cash dividend of SEK 1.25 per share willbe distributed according to the proposal made by the Board.The meeting agreed to that the articles of association (Section 1Business Name) will be amended so that the parent company's businessname is KappAhl AB (publ) instead of KappAhl Holding AB (publ).Finally, the meeting adopted the Board's proposal for a remunerationpolicy for the management team. This policy includes, among othermatters, that the bonus shall be a maximum of 50 percent of fixedsalary, and that there shall be no severance pay on top of normalsalary during the notice period. This remuneration policy is the sameas the one adopted at the previous Annual General Meeting.All decisions made by the meeting were supported by the requiredvoting majority.For further information, please contact:Håkan Westin, VP Finance Tel. +46 70471 56 64Annette Björklund, Head Public Relations Tel. +46 704 71 56 31KappAhl is a leading fashion chain with more than 300 stores and4 300 employees in Sweden, Norway, Finland, Poland and the CzechRepublic. KappAhl sells value-for-money fashion with a wide appeal -to women, men and children - and focuses in particular on women aged30-50. All clothes are from our own designers. In the twelve-monthperiod ending 31 August 2009 KappAhl's net sales were approximatelySEK 5 billion and operating profit was SEK 526 million. KappAhl is alisted company. In 1999 KappAhl was the first fashion chain to beenvironmentally certified. Further information is available atwww.kappahl.com and financial information at www.kappahl.com/ir.http://hugin.info/136331/R/1357138/330025.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 25.11.2009 - 12:32 Uhr
Sprache: Deutsch
News-ID 8829
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