SOURCE: ASSA ABLOY

April 22, 2010 12:24 ET

Annual General Meeting in ASSA ABLOY AB

STOCKHOLM, SWEDEN--(Marketwire - April 22, 2010) -


Election of the Board of Directors

The Annual General Meeting of ASSA ABLOY AB re-elected Gustaf Douglas, Carl Douglas, Johan Molin, Sven-Christer Nilsson, Birgitta Klasén, Eva Lindqvist, Jorma Halonen, Lars Renström and Ulrik Svensson as members of the Board of Directors. Gustaf Douglas was then re-elected as Chairman of the Board.

Dividend

The Annual General Meeting approved the dividend of SEK 3.60 per share proposed by the Board of Directors and the President. The record date for the dividend was set as Tuesday, 27 April 2010 and the dividend is expected to be distributed by Euroclear Sweden AB starting on Friday 30 April 2010.

Remuneration of the Board of Directors

The total remuneration of the Board of Directors will amount to SEK 4,050,000, excluding fees for committee work.

Nomination Committee

Gustaf Douglas (Investment AB Latour and SäkI), Mikael Ekdahl (Melker Schörling AB), Liselott Ledin (Alecta), Marianne Nilsson (Swedbank Robur Fonder) and Per-Erik Mohlin (SEB Fonder/SEB Trygg Liv) were elected as members of the Nomination Committee up to the conclusion of the 2011 Annual General Meeting. Mikael Ekdahl was elected Chairman of the Nomination Committee.

Establishment of guidelines for the remuneration of the Executive Team The Annual General Meeting resolved on the guidelines to be set for the remuneration of senior management, with the main principle that salaries and terms of remuneration for management should be in line with the market.

Authorization to repurchase and transfer Series B shares in the company The Annual General Meeting resolved to authorise the Board of Directors to, on one or more occasions, repurchase Series B shares in the company for the period up until the next Annual General Meeting. 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.

Establishment of long term incentive programme The Annual General Meeting resolved to implement a long term incentive programme for senior executives and key employees within the ASSA ABLOY Group ("LTI 2010"), in accordance with the proposal of the Board earlier released.


For more information please contact:
Johan Molin, President and CEO, Tel: +46 8 506 485 42
Tomas Eliasson, CFO and Executive Vice President, Tel: +46 8 506 485 72

This information is that which ASSA ABLOY is required to disclose under the Swedish Securities Exchange and Clearing Operations Act and/or the Swedish Financial Instruments Trading Act. The information is released for publication at 18:00 on 22 April.



[HUG#1407114]





Press release (PDF): http://hugin.info/1014/R/1407114/360396.pdf

Contact Information

  • For more information please contact:
    Johan Molin
    President and CEO
    Tel: +46 8 506 485 42

    Tomas Eliasson
    CFO and Executive Vice President
    Tel: +46 8 506 485 72