Kungsleden’s Annual General Meeting
Kungsleden’s Annual General Meeting was held on Thursday 22 April 2021. Due to the covid-19-pandemic, the Annual General Meeting was carried out only through advance voting in accordance with Swedish temporary laws, and thus without physical presence of shareholders, proxies or third parties.
The Meeting resolved to adopt the income statement and the balance sheet as well as the consolidated income statement and the consolidated balance sheet for the financial year 2020.
The Meeting resolved in accordance with the Board of Directors' proposed dividend of SEK 2.80 per share to be paid quarterly in four instalments of SEK 0.70 per share to the shareholders until the next Annual General Meeting. The record dates were set as of 26 April 2021, 30 June 2021, 30 September 2021 and 30 December 2021 and the dividend is scheduled for disbursement by Euroclear Sweden AB on the third weekday after each record date.
The Meeting discharged the Board members and Chief Executive Officer from liability for the financial year 2020.
The Meeting approved the presented remuneration report for 2020.
The Meeting resolved that the Board of Directors shall consist of seven members.
The following Board members were re-elected: Charlotte Axelsson, Ingalill Berglund, Jonas Bjuggren, Christer Nilsson, Jonas Olavi, Charlotta Wikström and Fredrik Wirdenius. Charlotte Axelsson was re-elected as Chairman of the Board.
The Meeting resolved that an annual amount of SEK 220,000 (unaltered) shall be paid to members of the Board, who are not employed by the company, and that an annual amount of SEK 500,000 (unaltered) shall be paid to the Chairman of the Board, and that an annual amount of SEK 40,000 per assignment (unaltered) shall be paid to members of the Board, who are not employed by the company, for work in committees established by the Board, except for the Chairman of the Audit Committee, to whom an annual amount of SEK 60,000 (unaltered) shall be paid. The Meeting resolved that remuneration to the auditor shall be paid by approved accounts.
The Meeting resolved the Nomination Committee's proposal to adopt a new instruction for the Nomination Committee. The names of the members of the Nomination Committee will be announced as soon as the Nomination Committee is formed, based on the largest shareholders in the company in terms of votes as of 31 August.
The Meeting adopted the Board of Directors’ proposal on remuneration guidelines for senior executives.
The Meeting approved the Board of Directors’ proposal to authorise the Board of Directors to make decisions on one or more occasions for the period up until the next Annual General Meeting, to repurchase a maximum of so many ordinary shares that the company’s holdings do not exceed ten per cent of all the shares of the company at any time. Repurchases of ordinary shares shall be on Nasdaq Stockholm, and may only be executed at a price within the quoted price interval on each occasion, which means the interval between the highest bid price and lowest offer price. The Meeting also resolved to authorise the Board of Directors to make decisions on one or more occasions for the period up until the next Annual General Meeting, to transfer own ordinary shares. Transfer may be made of all own ordinary shares held by the company at the time of the resolution by the Board of Directors. Transfer of ordinary shares may be conducted on Nasdaq Stockholm or otherwise, including a right to resolve upon deviations from the shareholders’ preferential rights. The purpose of the authorisations on repurchase and transfer of the company's own ordinary shares, and the reason for the deviations from the shareholders’ preferential rights, is for the Board of Directors to attain the flexibility to enable decision-making regarding an altered capital structure on a continuous basis and thus contribute to increased shareholder value during the coming year. The purpose is also to enable repurchased shares as payment for acquisitions, or to settle any deferred payments for such acquisitions, or to finance such acquisitions or deferred payments.
The Meeting approved the Board of Directors’ proposal to authorise the Board of Directors to, at one or several occasions during the period up until the next Annual General Meeting, with or without deviation from the shareholders' preferential rights, to resolve on issue of new ordinary shares, insofar such share issues can be made without amending the articles of association. The total number of ordinary shares issued under the authorisation may not exceed 10 per cent of the total number of ordinary shares in Kungsleden at the time of exercise of the authorisation. Share issues made under the authorisation shall be made at a subscription price in line with market terms and, in addition to cash payment, payment may be made by contribution in kind or by set-off. The purpose of the authorisation and the reasons for any deviation from the shareholders' preferential rights is that share issues could be made to fund acquisitions of real estate or real estate companies, or parts of real estate or real estate companies, or to fund investments in new or existing real estate in situations where the Board of Directors and management sees opportunities to carry out real estate acquisitions to increase the company's growth and improve profit and cash flow, and thereby safeguard the shareholders' interests.
The Meeting approved, in accordance with the Nomination Committee´s proposal, to elect Ernst & Young AB as auditor for the period until the end of the next Annual General Meeting. Ernst & Young AB will appoint the Authorised Public Accountant Jonas Svensson as auditor in charge.
ABOUT KUNGSLEDEN. We are people that create places and experiences for people. By developing and managing attractive and sustainable places, we offer people a better and more inspiring work experience. We are a long-term property owner focused on commercial properties in Sweden’s growth regions. As of 31 March 2021, we owned 208 properties with a total value of SEK 41,814 million. Kungsleden (KLED) is listed on the Nasdaq Stockholm Large Cap. Read more at www.kungsleden.se