Cardo AB Annual General Meeting
At Cardo AB's annual general meeting today, the following resolutions were among those passed:
Board of directors
Re-election of the members of the board: Fredrik Lundberg, Lennart Nilsson, Tuve Johannesson, Berthold Lindqvist, Carina Malmgren Heander, Bengt Pettersson, Anders Rydin and Kjell Svensson.
At the statutory meeting of the board after the annual general meeting, Fredrik Lundberg was appointed chairman of the board and Lennart Nilsson vice chairman.
In accordance with the proposal put forward by the board of directors, the meeting declared a dividend of SEK 8.00 per share. Thursday April 14 2005 was established as the day of record for dividend. Payment is expected to be distributed by VPC AB (Swedish Central Securities Depository & Clearing Organization) on Tuesday April 19 2005.
Resolution on authorization of the board of directors to acquire shares in the company
The meeting resolved to authorize the board of directors to acquire up to so many own shares before the next annual general meeting that the company's holding at no time exceeds 10 percent of all shares in the company. Acquisition is to be made on the Stockholm Stock Exchange at the market value applying on the occasion of acquisition. The purpose of the repurchase is to give the board the opportunity to adjust the capital structure of the company during the period until the next annual general meeting.
The meeting resolved that in advance of each annual general meeting an election committee be appointed consisting of the chairman of the board of directors and one representative of each of the company's three largest shareholders on September 30 each year. The duties of the election committee shall be to submit proposals to the annual general meeting in respect of the election of members of the board of directors and the determination of the board fee, and, whenever applicable, the election of auditors and the determination of auditors' fees, and to otherwise carry out its duties in accordance with relevant regulations.