MSAB: Call for annual general meeting 2019
Shareholders in
MICRO SYSTEMATION AB (publ)
are hereby given notice to attend the Annual General Meeting (AGM) on Wednesday, 15 May, 2019 at Konferens Spårvagnshallarna lokaler på Birger Jarlsgatan 57 A in Stockholm. Registration for the AGM will commence at 17:15.
RIGHT TO PARTIPATE
Shareholders in Micro Systemation AB (publ), organisation number 556244-3050, who wish to participate at the AGM must:
- be registered in Euroclear Sweden AB's shareholder register by 9 May 2019
- give their notice to participate with the company at the latest 9 May 2019
Shareholders who have allowed their equity manager to register their shares must, to be entitled to participate at the AGM, temporarily re-register their shares in their own name with Euroclear Sweden AB. Shareholders who wish to re-register their shares must advise their equity manager in good time and before 9 May 2019 for the re-registration to be finalised in time.
NOTICE TO PARTICIPATE
Notice to participate must have been received by the company latest 9 May 2019, at 24:00, through one of the following channels; via the form available at , by telephone 08-402 90 75, weekdays 9.00 – 16.00, or by letter to the following address:
Micro Systemation AB, Årsstämma 2019, c/o Euroclear Sweden AB, Box 191,101 23 Stockholm. A notice to participate received in any other manner will not be accepted.
Notification of participation shall include name, personal ID or organisation number, address, and telephone number, as well as the name of any possible alternate who may attend. For treatment of personal data visit integrity policy at: /dam/ESw/Legal/Integritetspolicy-bolagsstammor-svenska.pdf
AGENTS AND PROXY FORM
Anyone who is not personally present at the Meeting may exercise their rights at the Meeting by proxy with a written, signed and dated proxy.
Representatives of a legal entity, a copy of the registration certificate or corresponding document of the legal entity shall be presented. To facilitate admission to the Annual General Meeting, powers of attorney, registration certificates and other authorization documents should be received by the Company at the above address not later than Thursday, May 9, 2019.
A separate notification concerning a Shareholder participants of the Meeting will take place even if the shareholder wishes to exercise its right to vote at the Meeting by proxy. Submitted proxy is not valid as a notice of attendance.
Proxy forms are available from the Company on request and is available on
NUMBER OF SHARES AND VOTES
The total number of shares is 19,172,000 of which 1,000,000 are A-shares, 17,550,000 are B-shares, and 622,000 are C-shares. The total number of votes is 28,172,000 of which 10,000,000 votes are ascribed to A-shares, 17,550,000 votes are ascribed to B-shares, and 622,000 votes are ascribed to C-shares. All C-shares and 81,596 B-shares are held by the company.
PROPOSED AGENDA
- Election of AGM chairman and appointment of meeting secretary
- Preparation and approval of voting list
- Approval of agenda
- Election of at least one person to approve the AGM minutes
- Determination of whether the AGM has been duly convened
- Presentation of the annual report and audit report, the consolidated financial statements, and the auditor's report for the Group
- Resolutions regarding the adoption of the income statement and balance sheet, as well as the consolidated income statement and consolidated balance sheet
- Resolution regarding appropriation of the company's profit in accordance with the adopted balance sheet
- Resolution of record date regarding distribution of proposed dividend
- Resolution regarding discharge from liability for members of the Board of Directors and the CEO
- Determination of fees for members of the Board of Directors and the auditor
- Election of members of the Board of Directors and auditor
- Consideration of the Board's proposal concerning adoption of guidelines for remuneration for the executive management
- Resolution to authorize the Board of Directors to issue shares, share options or convertibles.
- Resolution to authorize the Board of Directors to transfer own shares
- Election of Nomination Committee members
- Meeting Adjournment
RESOLUTION PROPOSALS IN BRIEF
AGM Chairman (Item 1)
The Nomination Committee proposes Henrik Tjernberg be elected Chairman of the AGM.
Appropriation of company's profit (Item 8)
The Board proposes that the AGM appropriates the company's profits in accordance with the board's proposals in the annual report. Further, the board proposes an ordinary dividend of SEK 2,2 per share.
Resolution of record date for distribution of dividend (Item 9 )
The record date for the proposed dividend in accordance with item 8 shall be Friday 17 May, 2019. If the AGM adopts the proposal in item 8 and 9, payment of the dividend from Euroclear Sweden AB will take place on 22 May, 2019.
Determination of fees for members of the Board of Directors and the auditor, as well as election of the Chairman of the Board and board members (Items 11)
The Nomination Committee has proposed a fee for board members who are not employed by the company in the amount of SEK 185,000, a fee for the board chairman in the mount of SEK 500,000, and that the auditors shall be paid as invoiced after approval.
Election of members of the Board of Directors and auditor (Items 12)
The Nomination Committee proposes the re-election of board members Jan-Olof Backman, Carl Bildt and Henrik Tjernberg and new election of Ann Hellenius and Linda Nyberg up to an and including the next AGM.
The Nomination Committee proposes re-election of Chairman of the Board Henrik Tjernberg for the period up to and including the next AGM.
The Nomination Committee proposes election of auditor KPMG, with authorized public accountant Mattias Lötborn as Chief Auditor for the period up to and including the next AGM, in accordance with the recommendation from the board of directors and the audit committee.
Consideration of the board's proposal for a decision on adoption of guidelines for remuneration of executive management (Item 13)
The Board proposes that the Meeting resolves to approve the following guidelines for remuneration and other employment terms for senior executives.
The company will offer compensation and other terms of employment that enable the company to recruit, motivate and retain senior executives with such expertise that the company needs to implement its strategy and achieve business goals.
The overall principles for remuneration to senior executives shall be based on market conditions and position, individual performance, group performance and considering competitive compensation. The total remuneration to senior executives shall consist of fixed salary, variable salary in the form of incentives based on performance.
For variable remuneration paid in cash, the maximum is determined. The variable remuneration in the form of share or share price related incentive program shall be designed with the aim of achieving greater alignment of interests between the participating executives and shareholders and to promote the company's long-term value creation.
Pension benefits shall be competitive relative to those of comparable executives in the market in the respective executives work.
The Board is entitled to deviate from the proposed guidelines if special reasons exist.
Resolution to authorize the Board of Directors to issue shares, share options or convertibles (item 14)
The Board of Directors proposes that the Annual General Meeting authorizes the Board to decide on issue shares and / or warrants and / or convertibles, with or without deviation from shareholders' preferential rights, within the framework of current Articles of Association, until the next Annual General Meeting. A rights issue may be made for the purpose of carrying out or finance acquisitions of, or part of, other companies or businesses. A rights issue could also be used to adjust the company's capital structure in accordance with the company's capital needs from time to time. Rights issues may be done with cash consideration, offset, issue in kind or otherwise with stipulated conditions. Rights issues that occur with deviation from shareholders' preferential rights shall be on market terms less any discount that may be required to achieve sufficient interest to participate in the subscription. The total number of shares issued by new shares pursuant to the authorization may amount to a maximum of 10 percent of the number of shares in the company based on the total number of shares in the company at the time of the Annual General Meeting 2019. The Board or the Board of Directors hereby proposes to be entitled to make minor changes in the above decision that may be required by registration with the Swedish Companies Registration Office or Euroclear Sweden AB.
Requirement of majority
A valid resolution pursuant to this item 14 requires the approval of shareholders representing at least two thirds of the votes and shares represented at the Annual General Meeting.
Resolution to Authorize the Board of Directs to transfer own shares (item 15)
The Board proposes that the Meeting resolves to authorize the Board to, on one or more occasions until the next AGM, to decide on the transfer of own shares of series B in accordance with the following conditions.
i. Transfer may be made by the company's own class B shares held by the company at the time of the Board's decision.
ii. Transfer shall take place (i) Nasdaq Stockholm exchange, or (ii) otherwise than by transfer on the Nasdaq Stockholm, for the Board to decide on the transfer of shares for cash with preferential rights of shareholders, or as payment for the acquisition of companies or assets.
iii. Transfer of shares on Nasdaq Stockholm may only occur at a price within the, at each time, prevailing price interval.
iv. Transfer of shares otherwise than by transfer on the Nasdaq Stockholm, where the transfer is made with deviation from the shareholders preferential right or as payment for acquisitions of businesses or assets, the lowest at a price per share corresponding to the last independent trade the company's shares of series B Nasdaq Stockholm at that time.
The reason that the Board, in connection with the transfer of shares otherwise than by transfer of a regulated market, to decide on the transfer of shares in deviation from the shareholders' preferential rights is that the company thus can sell shares in a more time efficient manner, in the event that the liquidity the company's shares on the regulated market at the time of transfer is limited.
The authorization is intended to give the Board greater freedom of action and opportunity to continuously adapt its capital structure, as well as to finance future acquisitions.
Requirement of majority
A valid resolution pursuant to this item 15 requires the approval of shareholders representing at least two thirds of the votes and shares represented at the Annual General Meeting.
Election of Nomination Committee members (Item 16)
The Nomination Committee is currently comprised of Chairman Erik Hermansson, and committee members Joakim Dal and Henrik Tjernberg. The Nomination Committee proposes that the AGM elects the Nomination Committee members. Erik Hermansson has declared himself available for re-election as chairman, and Henrik Tjernberg as committee member. Joakim Dal has declined re-election. The Nomination Committee proposes that if a committee member leaves the committee before its work is completed that the remaining committee members, in consultation with the Board of Directors, shall appoint a new committee member taking into consideration that the Nomination Committee shall represent all of the company's shareholders. In the event of possible recruitment of members of the board, the nomination committee may be required to incur reasonable costs for external consultants if it considers it appropriate.
Shareholders right to additional information
The Board of Directors and the CEO shall, if any shareholder so requests, and if the board deems that this can be done without causing material harm to the company, provide information regarding circumstances which may affect the assessment of a matter on the agenda, assessment of the company's or its subsidiaries' financial situation, or the company's relationship to other companies within the Group.
Documents
The financial statements and the audit report for the company and the Group and any other documentation which should be available at the AGM as per the Swedish Companies Act, as well as proxy forms and the board's complete proposals for decisions, and the board's statements pursuant to chapter 18, paragraph 4 of the Swedish Companies Act, will be available at company premises and on the company's website () latest three weeks prior to the AGM, and will be sent free of charge to shareholders who so request and who provide their postal address.
For more information, please contact: or
Stockholm, April 2019
Micro Systemation AB (publ)
Members of the Board of Directors
Attachment
