Resolutions at ASSA ABLOY AB's Annual General Meeting 26 April 2023

Rhea-AI Summary

The Annual General Meeting of ASSA ABLOY AB was held on April 26, 2023, in Stockholm, Sweden. The meeting adopted income statements and balance sheets for 2022 and discharged the Board and CEO from liability. A dividend of SEK 4.80 per share was approved, to be paid in two installments on May 4 and November 16, 2023. The meeting saw the re-election of several Board members, including Johan Hjertonsson as Chairman and Victoria Van Camp as a new member. It also re-elected Ernst & Young AB as auditor until the 2024 AGM. A total remuneration of SEK 9,455,000 for the Board was resolved, alongside a long-term incentive program for key executives. Additionally, the Board was authorized to repurchase up to 10% of Series B shares until the next AGM.

Positive

• Approval of a dividend of SEK 4.80 per share, enhancing shareholder returns.
• Re-election of experienced Board members, providing continuity in governance.
• Authorization to repurchase shares, which could support stock price.
• Implementation of a long-term incentive program aimed at motivating key executives.

Negative

• None.

STOCKHOLM, April 26, 2023 /PRNewswire/ -- The Annual General Meeting of ASSA ABLOY AB was held on Wednesday 26 April 2023 in Stockholm, Sweden.

Adoption of income statements and balance sheets and discharge from liability

The Annual General Meeting adopted the parent company's and the Group's income statements and balance sheets for the financial year 2022. The members of the Board of Directors and the CEO were discharged from liability for the financial year 2022.

Dividend 

The Annual General Meeting approved the dividend of SEK 4.80 per share proposed by the Board of Directors, to be paid out in two equal installments, the first with the record date Friday 28 April 2023 and the second with the record date Monday 13 November 2023. The first installment is estimated to be paid on Thursday 4 May 2023 and the second installment on Thursday 16 November 2023.

Election of the Board of Directors and auditor

The Annual General Meeting re-elected Carl Douglas, Erik Ekudden, Johan Hjertonsson, Sofia Schörling Högberg, Lena Olving, Joakim Weidemanis and Susanne Pahlén Åklundh as members of the Board of Directors, and elected Victoria Van Camp as new member of the Board of Directors. Johan Hjertonsson was elected as new Chairman of the Board of Directors and Carl Douglas was re-elected as Vice Chairman.

The Annual General Meeting re-elected the audit firm Ernst & Young AB as auditor for the time period until the end of the Annual General Meeting 2024.

Remuneration to the Board of Directors and the auditor

The remuneration to the Board of Directors will totally amount to SEK 9,455,000 (excluding remuneration for committee work). Auditor fees shall be paid according to contract.

Nomination Committee

The Annual General Meeting resolved, in accordance with the Nomination Committee's previously published proposal, to adopt instructions for appointment of Nomination Committee and the Nomination Committee's assignment.

Resolution on approval of remuneration report

The Annual General Meeting resolved, in accordance with the Board of Directors' previously published proposal, to approve the Board's remuneration report.

Resolution regarding authorization to repurchase and transfer Series B shares in the company
The Annual General Meeting resolved, in accordance with the Board of Directors' previously published proposal, to authorize the Board of Directors to, on one or more occasions, repurchase Series B shares in the company for the period up until the Annual General Meeting 2024. The repurchase shall maximum comprise so many Series B shares that the company's holding does not at any time exceed 10 per cent of the total number of shares in the company.

Resolution regarding long-term incentive program

The Annual General Meeting resolved, in accordance with the Board of Directors' previously published proposal, to implement a long-term incentive program for senior executives and key employees within the ASSA ABLOY Group ("LTI 2023").

Minutes from the Meeting including complete resolutions will be available on the company's website assaabloy.com/general-meeting.

For more information, please contact:

Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82
Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72   
Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68

About ASSA ABLOY

The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 52,000 employees and sales of SEK 121 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY's innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.

The following files are available for download:

https://mb.cision.com/Main/7333/3758736/2014000.pdf

Press release (PDF)

 

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SOURCE ASSA ABLOY

FAQ

What dividend was approved for ASSA ABLOY (ASAZY) in 2023?

A dividend of SEK 4.80 per share was approved for ASSA ABLOY in 2023.

When will the dividend for ASSA ABLOY (ASAZY) be paid out?

The dividend will be paid in two installments: the first on May 4, 2023, and the second on November 16, 2023.

Who was elected as the new Chairman of the Board for ASSA ABLOY (ASAZY)?

Johan Hjertonsson was elected as the new Chairman of the Board.

What is the total remuneration for the Board of Directors for ASSA ABLOY (ASAZY)?

The total remuneration for the Board of Directors has been set at SEK 9,455,000.

What authorization was given regarding share repurchases for ASSA ABLOY (ASAZY)?

The Board was authorized to repurchase up to 10% of Series B shares until the next AGM.