ICA Gruppen - AGM 22 September 2020
ECGS notes that as a result of the Covid-19 pandemic the EGM will be held as an electronic meeting only. Consequently, it will not be possible to attend the EGM in person.
In general, ICA Gruppen is in compliance with the Swedish regulations relating to the organization and procedures of the Extraordinary General Meeting.
Under ITEM 7 the board of directors proposes to distribute an extraordinary dividend of SEK 6.00 per share. The (proposed) dividend is covered by FCF as well as in accordance with the Company’s dividend policy. ECGS furthermore notes that ICA Gruppen’s results have been (further) improved compared to last year (EPS Q2 2020: SEK 9.66 vs EPS Q2 2019: SEK 6.58) which indicates that the Company is little affected by the Covid-19 pandemic. In view of the above, ECGS recommends to vote FOR.
ICA Gruppen is a retail group based in Sweden. Co. is engaged in maintaining and operating its own and retailer-owned stores in Sweden, Norway, Estonia, Latvia, Lithuania and Finland. Co. consists of ICA Sweden, ICA Norway and Rimi Baltic, which are mainly involved in grocery retail, ICA Real Estate which owns and manages properties, and ICA Bank which offers financial services to Swedish customers. Co. also includes the wholly-owned portfolio companies Forma Publishing Group and inkClub, as well as the partly-owned Cervera, Hemtex and Kjell & Company.
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