At the annual general meeting in Instalco today on 5 May 2022, it was resolved on, among other things, a dividend of SEK 0.65 per share, re-election of all members of the board of directors except for Olof Ehrlén who was not available for re-election, re-election of the auditor, authorisations for the board of directors to resolve on issues, acquisitions and transfers of own shares and the establishment of an incentive programme.
Adoption of income statements and balance sheets
The annual general meeting adopted the income statement and the balance sheet as well as the consolidated income statement and the consolidated balance sheet for the financial year 2021.
The annual general meeting resolved on a dividend of SEK 0.65 per share and that Monday 9 May 2022 shall be the record date for the dividend. Payment of the dividend will be made on Thursday 12 May 2022.
Resolution on discharge from liability, election of the board of directors and determination of fees for the board of directors
The annual general meeting resolved to grant discharge from liability for the board members and the CEO for the financial year 2021.
Per Sjöstrand, Johnny Alvarsson, Carina Qvarngård, Carina Edblad, Per Leopoldsson and Camilla Öberg were re-elected as board members for the period until the close of the next annual general meeting. Per Sjöstrand was also re-elected as chairman of the board for the period until the close of the next annual general meeting.
The annual general meeting resolved that the fees to the board members shall amount to SEK 620,000 to the chairman of the board and SEK 310,000 each to the other board members who are not employees of the company, SEK 150,000 to the chairman of the audit committee and SEK 75,000 to other members of the audit committee.
Election of auditor and determination of fees to the auditors
The annual general meeting re-elected the accounting firm Grant Thornton Sweden AB as auditor of the company for the period until the close of the next annual general meeting. The fees to the auditor shall be paid in accordance with approved invoice.
Resolution on authorisation for the board of directors to resolve on issues of shares, convertibles and warrants as well as acquisitions and transfers of own shares
The annual general meeting resolved to authorise the board to resolve on issues of shares, convertibles and warrants as well as acquisitions and transfers of own shares. The number of shares, convertibles and warrants that are issued under the authorisation shall not exceed ten per cent of the total amount of shares in the company at the time of the annual general meeting's resolution. Acquisitions may be made of so many shares that the company's holding of own shares, following each acquisition, amounts to a maximum of five per cent of all shares in the company. Transfers may be made of the number of shares held by the company from time to time. Issues, acquisitions and transfers may be made with deviation from the shareholders' preferential rights in accordance with the terms and conditions of each authorisation, respectively.
Resolution on guidelines for remuneration to the senior management
The annual general meeting resolved to adopt new guidelines for remuneration to the senior management. The difference compared to the remuneration guidelines adopted by the annual general meeting 2020 is that according to the new remuneration guidelines, compensation for any commitment to restrict competition following termination of the employment shall amount to a maximum of 100 per cent of the fixed salary at the time of the termination, unless otherwise provided by mandatory collective agreements (previously a maximum of 75 per cent was applied).
Resolution on issue of warrants
The annual general meeting resolved to establish an incentive programme under which the company offers members of the extended senior management and key employees within the Instalco group as well as CEOs and key employees in subsidiaries to acquire warrants in the company. The resolution entails that a maximum of 2,600,000 warrants are issued to a wholly-owned subsidiary of the company and subsequently transferred to the participants in the incentive programme. Each warrant entitles the holder to subscribe for one share in the company. The subscription of shares under the warrants may take place during the period from 22 May 2025 to 16 June 2025. The subscription price per share shall be 115 per cent of the volume weighted average price of the company's share five trading days after the annual general meeting 2022.
Minutes and complete resolutions
The minutes from the annual general meeting will be available at the company and on the company's website, www.instalco.se.
The information was submitted for publication on 5 May 2022 at 19.30 CET.
For further information
Fredrik Trahn, Head of IR and Communications
phone +46 70 913 67 96, e-mail email@example.com
Instalco is one of the leading installation companies in the Nordic region, active in the areas of heating, plumbing, electricity, cooling, technical consulting and industrial solutions. We offer project planning, design, installation, service and maintenance of systems installed at properties and facilities throughout Sweden, Norway and Finland. The operations are conducted through approximately 115 leading and highly specialised local companies, with the support of a small central organisation. Instalco is listed at Nasdaq Stockholm under the ticker INSTAL. For further information, visit www.instalco.se
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