Cloetta’s Annual General Meeting was held on Friday, 18 December 2009, 2:00 p.m. at Collegium, Teknikringen 7, in Linköping, Sweden.
Adoption of the balance sheet and profit and loss account
The AGM adopted the balance sheets and profit and loss accounts of the Parent Company and the Group for the financial year 2008/2009.
The AGM resolved that no dividend would be paid.
Board of Directors
The AGM discharged the members of the Board of Directors and the Managing Director from liability for the financial year 2008/2009. The AGM resolved that the number of Board members would be six, with no deputies. Sitting Board members Olof Svenfelt, Lennart Bohlin, Johan Hjertonsson, Ulrika Stuart Hamilton, Mikael Svenfelt and Meg Tivéus were re-elected. The AGM appointed Olof Svenfelt as Board Chairman.
The AGM approved board fees in an unchanged total amount of SEK 1,005,000 (excluding fees for work on the Board committees), and with an unchanged apportionment between the members of the Board, i.e. SEK 175,000 to the Board Chairman, SEK 150,000 to each of the other Board members elected by the AGM, SEK 20,000 to each of the two employee representatives and SEK 20,000 to each of the deputy employee representatives.
The AGM resolved that fees for committee work would be paid in a total amount of SEK 100,000, of which SEK 60,000 to the audit committee and SEK 40,000 to the remuneration committee, to be apportioned between the committee members.
Managing Director’s address
In his address to the AGM, Managing Director Curt Petri commented on operations in 2008/2009 and the Group’s development during the first quarter of the financial year from 1 September to 30 November 2009.
Amendment to the Articles of Association
The AGM approved the Board’s proposed amendment to the Articles of Association’s provisions for notice to attend general meetings so that notice shall be given through publication in the official gazette Post- och Inrikes Tidningar and on the company’s website, and that information about the notice shall be published in Dagens Industri. Notice of an extraordinary general meeting where an amendment to the Articles of Association is to be resolved on shall be made not earlier than six weeks and not later than three weeks prior to the Meeting.
Guidelines for remuneration to senior executives
The AGM approved the Board’s proposed guidelines for remuneration to senior executives.
The AGM approved the proposed rules for the nominating committee.
At a statutory meeting held in connection with the AGM, Olof Svenfelt, Mikael Svenfelt and Meg Tivéus were elected as members of the audit committee. The remuneration committee consists of Lennart Bohlin och Ulrika Stuart Hamilton.
The interim report for the period from September 2009 to February 2010 will be published on 23 March 2010.
The information in this press release is subject to the disclosure requirements of Cloetta AB (publ) pursuant to the Swedish Securities Market Act. The information was submitted for publication on 18 December 2009, 4.45 p.m.