Today at the Annual General Meeting (AGM), the shareholders of NCC passed resolutions concerning inter alia the adoption of the income statement and the balance sheet, payment of a dividend, a new long-term performance-based incentive program, and authorization for the Board of Directors to decide on the transfer and repurchase of own Series B shares.
Dividend
NCC's AGM resolved in favor of the Board's proposal that a dividend of
Income statement and balance sheet, and discharge from liability
The AGM adopted the income statements and balance sheets for 2023 and the Board of Directors and the President were discharged from personal liability.
Remuneration report
The AGM approved the Board of Directors' remuneration report.
Board fees
It was resolved that Board fees be paid in a total amount of
Fees to be paid to the members of the newly established
Board of Directors
The AGM resolved that the Board of Directors will consist of seven regular Board members. In accordance with the Nomination Committee's proposal, the Meeting re-elected the Board members
Auditor
In accordance with the Audit Committee's recommendation, the auditing firm Öhrlings
Nomination Committee
Furthermore, the AGM decided to adopt the proposed instructions for the Nomination Committee.
Guidelines for executive remuneration
The AGM resolved on essentially unchanged guidelines for determining executive remuneration.
Long-term performance-based incentive program
Furthermore, the AGM resolved on the introduction of a long-term performance-based incentive program (LTI 2024 share savings program) for senior executives and key personnel.
To secure the anticipated financial exposure in respect of the LTI 2024 share savings program, the AGM resolved that NCC shall be able to enter into share-swap agreements with a third party on normal market terms, whereby the third party will be able to acquire Series B NCC shares in its own name and transfer them to employees who participate in the LTI 2024 share savings program.
The AGM also authorized the Board, on one or several occasions during the period up to the next AGM, to make decisions on the transfer of a maximum of 100,000 Series B shares on Nasdaq Stockholm to secure delivery of shares under LTI 2021 and LTI 2023 and to cover costs for compensation for dividends, social security fees and payments on the basis of the synthetic shares that arise from time to time due to the outstanding, long-term performance-based incentive programs in NCC.
A detailed description of the LTI 2024 share savings program is available in the official notification of the AGM, which can be found on NCC's website.
Repurchase of own shares
The AGM authorized the Board, on one or several occasions during the period up to the next AGM, to make decisions on the repurchase of the company's Series B shares up to an amount so that, at any given time following the acquisition, the company holds a maximum of 10 percent of all shares in the company. Purchases of shares are to be made on Nasdaq Stockholm at a price per share that is within the registered price interval for NCC's Series B share at any given time. The purpose of the authorization is to give the Board greater scope to be able to adapt the company's capital structure to the capital requirement from time to time.
For further information, please contact:
NCC's media line: +46 8 585 519 00, press@ncc.se
About NCC. NCC is one of the leading construction companies in the Nordics. Based on its expertise in managing complex construction processes, NCC contributes to the positive impact of construction for its customers and society. Operations include building and infrastructure project contracting, asphalt and stone materials production, and commercial property development. In 2023, NCC had sales of about
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