NOTICE FROM ITAB SHOP CONCEPT AB (PUBL) ANNUAL GENERAL MEETING

The Annual General Meeting has been held with the shareholders of ITAB Shop Concept AB (publ) on 7 May 2018. 

DIVIDEND  

The AGM decided to issue a dividend of SEK 1.75 to shareholders, and set the record date as 9 May 2018. It is anticipated that the dividend will be remitted by Euroclear Sweden AB on 15 May 2018. 

BOARD OF DIRECTORS 

Anna Benjamin, Per Borgklint, Petter Fägersten, Sune Lantz, Anders Moberg, Fredrik Rapp and Lottie Svedenstedt were re-elected as board members. Anders Moberg was appointed Chairman of the Board.  

AUDITORS 

The registered auditing company Ernst & Young was selected as the auditor for a period of one year. It was noted that the auditing company has stated that authorised public accountant Joakim Falck will be appointed as auditor with overall responsibility. 

NOMINATION COMMITTEE
The AGM decided to appoint Anders Rudgård (Chairman), Fredrik Rapp and Stig-Olof Simonsson to make up the Nomination Committee prior to the 2019 AGM.

REMUNERATION TO THE BOARD 

The AGM decided that remuneration of Board members shall total SEK 1,200,000, with SEK 300,000 allocated to the Chairman of the Board and SEK 150,000 to each of the other members of the Board. 

AUTHORISATION FOR A NEW SHARE ISSUE 

The AGM decided to authorise the Board of Directors, in connection with company acquisitions, to decide on the new issue of Class B shares and/or convertibles to a maximum of one tenth of the company’s issued Class B shares. The Board is authorised to make such decisions on one or more occasions before the 2019 Annual General Meeting.

 

PURCHASE AND TRANSFER OF OWN SHARES
The AGM decided to authorise the Board of Directors to decide on the purchase and transfer of company-owned shares. The authorisation is intended to give the Board more room for manoeuvre in dealing with the company’s capital structure and, if deemed appropriate, to facilitate incentive programmes for the Group’s employees or the acquisition of businesses paid for with company shares. The Board is authorised to make such decisions on one or more occasions for execution before the 2019 Annual General Meeting.

GUIDELINES FOR TERMS OF REMUNERATION TO SENIOR EXECUTIVES

The AGM decided to approve the Board’s proposal regarding guidelines for remuneration and other employment conditions for senior executives. The Board’s proposal implies that remuneration and other terms of employment for senior executives shall be in line with market standards. In addition to a basic salary, senior executives may receive a limited variable remuneration that is result-based and pegged to set targets. The variable part of the remuneration may not exceed six months’ pay. Senior executives shall have market pension conditions that are premium-based. All members of the corporate management may terminate their employment with six months’ notice. In the event of notice of termination being given to the CEO, a severance payment equivalent to 18 monthly salary payments shall be payable. Severance pay is offset against other income. No severance pay will be paid in the event of notice being given by the CEO. The Board is entitled to deviate from the guidelines should mitigating circumstances so require. 

FINANCIAL INFORMATION
ITAB Shop Concept AB (publ) intends to provide the following information for the 2018 financial year.

Interim report, January – June: 11 July 2018

Interim report, January – September: 26 October 2018

Year-end report: 5 February 2019

Annual report: March/April 2019

Annual General Meeting: May 2019

Jönköping, 7 May 2018

Board of Directors