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Kinnevik: Annual General Meeting 2007

5/10/2007 4:21 PM

The AGM re-elected Cristina Stenbeck, Vigo Carlund, Wilhelm Klingspor, Erik Mitteregger and Stig Nordin and elected Allen Sangines-Krause as directors of the Board. The AGM further appointed Cristina Stenbeck to be the 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 2006 of SEK 1.70 per share. The record date for the dividend is to be Tuesday 15 May 2007 and it is expected that the dividend will be distributed by VPC on Monday 21 May 2007.
 
The AGM also resolved to:
  • authorise the Board of Directors to pass a resolution for the period up until the next Annual General Meeting on repurchasing so many Class A and/or Class B shares that the Company's holding does not at any time exceed 10 per cent of the total number of shares in the Company. The repurchase of shares shall take place on the Stockholm Stock Exchange.
  • amend the share capital limits in the Articles of Association to facilitate redemption of any repurchased shares.
  • 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 of the Annual General Meeting of 2008 shall be performed by a Nomination Committee. Cristina Stenbeck will be a member of the Committee and will also act as its convenor. The Nomination Committee, which will consist of at least three members representing the largest shareholders of the Company, will be formed during September 2007 in consultation with the largest shareholders in the Company at that time. The Nomination Committee is elected for a term of one year. The composition of the Committee will be communicated in the Company's interim report for the third quarter of 2007.
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 Wilhelm Klingspor and Stig Nordin were appointed members of the Audit Committee. Wilhelm Klingspor was appointed Chairman of the Remuneration Committee and Cristina Stenbeck and Erik Mitteregger were appointed members of the Remuneration Committee.
 
For further information, visit www.kinnevik.se or contact:
Mia Brunell, Chief Executive Officer      +46 (0) 8 562 000 00
Henrik Persson, Investor relations         +46 (0) 8 562 000 87

Investment AB Kinnevik's objective is to increase shareholder value, primarily through net asset value growth. The Parent Company manages a portfolio of long-term investments in a number of listed companies such as Tele2, Modern Times Group MTG, Millicom Inter­national Cellular, Metro International and Transcom WorldWide. Kinnevik plays an active role on the Boards of its listed holdings.
 
The Company's subsidiaries are principally active in cartonboard and paper production through Korsnäs, and farming through Mellersta Sveriges Lantbruk.
 
Investment AB Kinnevik's class A and class B shares are listed on the Stockholm Stock Exchange's Nordic list for large-cap companies within the financial and real estate sector. The ticker codes are KINV A and KINV B.