Communication from the Annual General Meeting in  ITAB SHOP CONCEPT AB (PUBL)

The Annual General Meeting has been held with the shareholders of ITAB Shop Concept AB (publ) on May 8, 2019.

ALLOCATION OF PROFIT

The AGM resolved that no dividend should be paid for the financial year 2018 and that available funds should be transferred on new account.

BOARD
Anna Benjamin, Per Borgklint, Petter Fägersten, Sune Lantz, Anders Moberg, Fredrik Rapp and Lottie Svedenstedt were re-elected to the Board of Directors, as well as newly elected Jan Frykhammar. Anders Moberg was appointed Chairman of the Board.

AUDITORS
The registered accounting firm Ernst & Young was elected as auditors for a term of one year. It was noted that the auditing firm stated that authorized auditor Joakim Falck will be appointed auditor in charge.

ELECTION COMMITTEE
The AGM resolved to appoint Anders Rudgård (Chairman) to the Nomination Committee, Fredrik Rapp and Ulf Hedlundh to constitute the Nomination Committee for the Annual General Meeting in 2020.

DIRECTORS ‘FEES
The Annual General Meeting resolved that the Board fee shall be SEK 1,350,000, to be distributed with SEK 300,000 to the Chairman of the Board and SEK 150,000 each to the other members of the Board.

AUTHORIZING THE NEW COMMISSION
The AGM resolved to authorize the Board of Directors in connection with company acquisitions to decide to issue shares and / or convertibles of series B to a maximum of one tenth of the company’s issued class B shares. On one or more occasions, the Board of Directors shall be able to make such decisions until the Annual General Meeting in 2020.

ACQUISITIONS AND TRANSFER OF OWN SHARES
The AGM resolved to authorize the Board of Directors to decide on the acquisition and transfer of own shares. The purpose of the authorization is to give the Board more room for maneuver in its work on the company’s capital structure and, if appropriate, enable incentive programs for the Group’s employees or acquisition of business through payment with the company’s shares. On one or more occasions, the Board of Directors shall be able to make such decisions before the Annual General Meeting in 2020.

GUIDELINES FOR REMUNERATION CONDITIONS TO SENIOR EXECUTIVES
The Meeting resolved to approve the Board’s proposal for guidelines for remuneration and other terms of employment for senior executives. The Board’s proposal means that remuneration and other terms of employment for senior executives shall be market-based. In addition to a fixed basic salary, senior executives can receive variable remuneration, which must be limited and based on the earnings trend compared with established goals. The variable part cannot amount to more than six monthly salaries. Senior executives must have market-based pension terms that must be premium-based. All senior executives in Group Management can terminate their employment with six months’ notice. In the event of termination by the CEO, severance pay corresponding to 18 months’ salary is payable. The severance pay is offset against other income. In the event of termination by the CEO, no severance pay is payable. The Board shall have the right to deviate from the guidelines if there are special reasons for this in an individual case.

ECONOMIC INFORMATION
ITAB Shop Concept AB (publ) intends to provide the following information for the fiscal year 2019.
Interim report January-June: July 10, 2019
Interim report January-September: October 25, 2019
Year-end report: February 6, 2020
Annual Report: March / April 2020
Annual General Meeting: May 2020

Jönköping May 8, 2019
Board of Directors