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Kinnevik: Annual General Meeting 2006

5/11/2006 3:57 PM

The AGM re-elected Pehr G Gyllenhammar, Cristina Stenbeck, Edvard von Horn, Wilhelm Klingspor, Erik Mitteregger and Stig Nordin and elected Vigo Carlund as directors of the Board. Vigo Carlund will participate in the work of the Board of Directors from 1 August 2006 when he steps down as President and CEO of the Company. The AGM further appointed Pehr G Gyllenhammar to be the Chairman of the Board of Directors and Cristina Stenbeck to be the Vice Chairman of the Board of Directors.  
 
The AGM resolved in accordance with the proposal from the Board of Directors to distribute a cash dividend to the shareholders for 2005 of SEK 1.60 per share. The record date for the dividend is to be Tuesday 16 May 2006 and it is expected that the dividend will be distributed by VPC on Friday 19 May 2006.
 
The AGM also resolved to:
 
  • authorise the Board of Directors to pass a resolution on one or more occasions for the period up until the next Annual General Meeting on repurchasing so many Class B shares that the Company's holding does not at any time exceed 10 percent of the total number of shares in the Company. The repurchase of shares shall take place on the Stockholm Stock Exchange.
  • approve the following procedure for preparation of the election of the Board of Directors. The work of preparing a proposal on the directors of the Board shall be performed by a Nomination Committee. The Nomination Committee shall consist of at least three members representing the shareholders of the Company and will be formed during September 2006 in consultation with the largest shareholders in the Company at that time. Cristina Stenbeck will be a member of the Committee and will also act as its convenor. The composition of the Committee will be communicated in the Company's interim report for the third quarter of 2006.
  • to amend the Articles of Association to the new Companies Act which entered into force on 1 January 2006.
  •  
    At the constituent meeting of the Board of Directors following the AGM, an Audit Committee and a Remuneration Committee were appointed. Erik Mitteregger was appointed as Chairman of the Audit Committee and Edvard von Horn, Wilhelm Klingspor and Stig Nordin were appointed members of the Audit Committee. Wilhelm Klingspor was appointed Chairman of the Remuneration Committee and Pehr G Gyllenhammar, Cristina Stenbeck and Erik Mitteregger were appointed members of the Remuneration Committee.
     
    For further information, please visit www.kinnevik.se or contact: