Annual General Meeting of Saab AB 2010
Joakim Westh, Cecilia Stegö Chilò and Johan Forssell today voted on to the Saab Board of Directors
Cecilia Stegö Chilò has a broad experience in Swedish society and in Swedish industry and commerce. In 2004 she was appointed President of The Swedish Free Enterprise Foundation and Head of Timbro. For the present she is active as adviser to company- and organization-managements. Joakim Westh is former Head of Strategy in Ericsson and Group Vice President of Assa Abloy. Presently he is Chairman of the board of Absolent AB. He has also been working at the consulting company McKinsey & Co. Johan Forssell is working at Investor since 1995 and since 2006 member of the Management Group with responsibility for Core Investments. He is member of the board of Atlas Copco and the Foundation SSE-MBA. Marcus Wallenberg, Erik Belfrage, Sten Jakobsson, George Rose, Per-Arne Sandström, Åke Svensson and Lena Treschow Torell were re-elected. Marcus Wallenberg was re-elected as Chairman of the Board of Saab AB. A transcription and web cast of CEO Åke Svenssons’s presentations at today’s Annual General Meeting is available on Saab’s website: http://www.saabgroup.com/en/InvestorRelations/investor_relations.htm Approval of income statement and balance sheet Item 8 a on the agenda The AGM approved the parent company’s income statement and balance sheet, and the consolidated income statement and balance sheet. Dividend Item 8 b on the agenda In accordance with the Board’s proposal, the AGM approved the dividend of SEK 2.25 per share to the shareholders and that the record day should be Tuesday, April 20, 2010. The dividend is expected to be sent out on Friday, April 23, 2010. Discharge from liability Item 8 c on the agenda The Board of Directors and the President were discharged from liability for the financial year 2009. Board of Directors’ fees Item 10 on the agenda Unchanged board fees for 2010 were approved as follows: SEK 1,100,000 to the Chairman, and SEK 425,000 to each of the other board members elected by the AGM and not employed by the company, and compensation for committee work as follows: SEK 150,000 to the Chairman of the audit committee and SEK 100,000 to each of the other committee members, elected by the AGM, and SEK 135,000 to the Chairman of the remuneration committee and SEK 80,000 to each of the other committee members. BAE Systems’ member does not receive a fee. Change of the Articles of Association Item 12 on the agenda The AGM adopted the board’s proposal for changes of the Articles of Association which means that notices convening a General Meeting shall be published in Post- och Inrikes Tidningar and on the website of the company. That notice has been given shall be published in Dagens Nyheter and Svenska Dagbladet. The change is conditional upon that an amendment of the Companies Act has come into force. Guidelines of remuneration Item 13 on the agenda The meeting also adopted the board’s proposal of guidelines of remuneration and other terms of employment for executive managers for the year 2010. Long-term incentive programs Item 14 on the agenda The board’s proposal for share programs 2010 with the same conditions as previous programs was approved. Two forms of share-related saving programs are introduced; a general share savings program targeted at the majority of the employees, and a performance-related share program aimed at managers and key personnel. In the general share savings program, which is addressed to everyone except those included in the performance-related share program, employees may acquire shares in Saab through a monthly deduction from their net salary up to a maximum of 5 percent of the fixed gross salary. After three years, the employee will be allocated the corresponding number of matching shares. This program comprises up to 840,000 B series shares. The performance-related share program is aimed at up to 286 key personnel, including the President. The employee can make a monthly deduction from net salary up to 7.5 percent of the fixed gross salary for the purchase of shares. Upon fully achieving the established financial targets after three years, a maximum of between 2 and 5 matching shares will be allocated for each share purchased. If the financial targets are not achieved, there will be no matching. The performance-related share program is therefore tied to a risk and linked to performance. This program comprises up to 500,000 B series shares. Acquisition and transfer of the company’s own shares Item 15 on the agenda The AGM also authorized the Board to decide on acquisition and transfer of own shares. The purpose is to allow the Board increased scope for action in working with the company’s capital structure or the financing of company’s acquisitions and to give the company the possibility to transfer shares to the employees and secure the associated costs under the long-term Share Matching Plan and the Performance Share Plan. Nomination Committee Item 16 on the agenda The proposal on nomination committee was approved. Saab serves the global market with world-leading products, services and solutions ranging from military defence to civil security. Saab has operations and employees on all continents and constantly develops, adopts and improves new technology to meet customers’ changing needs. For further information, please contact: Saab Press Centre, +46 (0)734 180 018 Saab Investor Relations, Ann-Sofi Jönsson, +46 (0)734 187 214 www.saabgroup.com The information is that which Saab AB is required to declare by the Securities Business Act and/or the Financial instruments Trading Act. The information was submitted for publication on 15 April at 17.45.