Husqvarna Group: Bulletin from the Annual General Meeting of Husqvarna AB (publ)
The AGM of Husqvarna AB (publ) was held on April 4, 2023
The AGM was held physically at Elmia Kongress och Konserthus in Jönköping and the shareholders had the option to attend the meeting via advance voting (postal voting).
Adoption of the profit and loss statements and balance sheets, dividend and discharge of liability
The profit and loss statements and the balance sheets were adopted. The Board of Directors' proposal for the disposition of profits was approved. The dividend was set at SEK 3.00 per share to be paid in two installments, firstly SEK 1.00 per share with Thursday, April 6, 2023 as the first record day, and secondly SEK 2.00 per share with Friday, October 6, 2023 as the second record day. The estimated dates for payment of the dividends are Thursday, April 13, 2023 and Wednesday, October 11, 2023. The Board of Directors and CEO were discharged from liability for the financial year 2022.
Board of Directors, auditors and remuneration to the Directors and the auditors
The Nomination Committee's proposal that the Board of Directors shall comprise eight members to be elected by the AGM, was adopted. Tom Johnstone, Ingrid Bonde, Katarina Martinson, Bertrand Neuschwander, Daniel Nodhäll, Lars Pettersson and Christine Robins were re-elected. Torbjörn Lööf was elected as a new Board member and Tom Johnstone was appointed Chair of the Board.
The AGM approved the Nomination Committee's proposal regarding remuneration to the Board, of SEK 7,790,000 in total, whereof SEK 2,250,000 to the Chair of the Board and SEK 650,000 to each of the Directors elected by the AGM and not employed by the Company. Additionally, the Chair of the Audit Committee shall receive SEK 290,000 and the two members shall receive SEK 185,000 each. The Chair of the People & Sustainability Committee shall receive SEK 150,000 and the two members SEK 90,000 each.
The AGM approved the Nomination Committee's proposal to elect KPMG as auditor for the period from the AGM 2023 up until the end of the AGM 2024. The auditors' fee shall be paid on the basis of approved invoices.
The AGM approved the remuneration report.
Long-term incentive program and equity swap arrangements to hedge obligations in accordance with approved incentive programs
The AGM approved the Board's proposal for a performance based long-term incentive program for 2023, LTI 2023. The AGM resolved to authorize the Board to decide on one or more occasions, until the next AGM, to direct the Company to enter into one or more equity swap arrangements where a third party in its own name acquires Husqvarna B-shares on terms consistent with market practice. The purpose is to secure the Company's obligations under adopted incentive programs.
Authorization for new share issue
The AGM resolved, in accordance with the Board's proposal, to authorize the Board to approve the issue of not more than approximately 57.6 million new B-shares against payment in kind, on one or more occasions during the period up to the next AGM. The price for the new shares shall be based on the market price of the Company's B-share. The purpose of the authorization is to facilitate acquisitions for which payment will be made with own shares.
The above information was submitted for publication at 17:45 CET on April 4, 2023.