STOCKHOLM, SWEDEN -- (Marketwired) -- 04/09/13 -- Telefonaktiebolaget LM Ericsson's AnnualGeneral Meeting ("AGM") was held onApril 9, 2013 in Stockholm.
The proposed dividend of SEK 2.75 per share was approved by the AGM. Therecordday for dividend was set to Friday, April 12, 2013. Payment from EuroclearSweden AB is expected to take place on Wednesday, April 17, 2013.
Adoption of the Profit and Loss Statements and the Balance Sheets
The AGM resolved to adopt the Profit and Loss Statement and the BalanceSheetfor the Parent Company as well as the Consolidated Profit and LossStatement andthe Consolidated Balance Sheet for the Group for 2012. The members of theBoardof Directors and the President were discharged from liability for thefiscalyear 2012.
Board of Directors
In accordance with the proposal of the Nomination Committee, Leif Johanssonwasreelected Chairman of the Board of Directors. Roxanne S. Austin, Sir PeterL.Bonfield, Börje Ekholm, Alexander Izosimov, Ulf J. Johansson, SverkerMartin-Löf, Hans Vestberg and Jacob Wallenberg werere-elected to the Board and NoraDenzel, Kristin Skogen Lund and Pär Östberg were elected newmembers of theBoard of Directors.
Board of Directors' Fees
The AGM resolved, in accordance with the Nomination Committee's proposal,on ayearly fee to the Chairman of the Board of SEK 3,850,000 (previouslySEK 3,750,000), and fees to non-employed members of the Board, elected bytheAGM, of SEK 900,000 each (previously SEK 875,000 each). Fees for Committeeworkto non-employed members of the Committees, elected by the AGM, wereapproved asfollows (unchanged); SEK 350,000 to the Chairman of the Audit Committee andSEK 250,000 to each of the other members of the Audit Committee, SEK200,000 toeach of the Chairmen of the Finance and Remuneration Committee and SEK175,000to each of the other members of the Finance and Remuneration Committee.
The AGM approved the Nomination Committee's proposal to enable payment ofpartof the fees to the members of the Board for the Board assignment, in theform ofsynthetic shares.
The AGM elected PricewaterhouseCoopers AB auditor for the period up untiltheend of the AGM 2014.
Guidelines for Remuneration to Group Management
In accordance with the Board of Directors' proposal, the AGM resolved toapprovethe Guidelines for remuneration to Group Management.
Long-Term Variable Remuneration Program (LTV)
In accordance with the Board of Directors' proposals, the AGM resolved asfollows:
LTV 2013 and transfer of treasury stock
* Implementation of LTV 2013, with the same structure as previousprograms. The program comprises in total up to 32.2 million B shares and includesthe Stock Purchase Plan for all employees, the Key Contributor RetentionPlan and the Executive Performance Stock Plan. All plans are based on the employees' own investment in Ericsson shares. If the shares areretained for a period of three years and the employment remains, the participantsobtain matching shares from the company. The following performance criteriawere resolved for the Executive Performance Stock Plan 2013; net salescompound annual growth rate between 2 and 8 percent (2012-2015), operatingincome compound annual growth rate between 5 and 15 percent (2012- 2015), andcash conversion at or above 70 percent annually (2013, 2014 and 2015).
* Transfer of up to 26.6 million B shares during the period November 2013up to and including November 2017, free of consideration, to employeescovered by the terms of the LTV 2013.
* Transfer of up to 5.6 million B shares on NASDAQ OMX Stockholm, priorto the AGM 2014, at a price within the at each time prevailing price intervalfor the share, to cover certain expenses, mainly social security charges.
The Company has approximately 3.3 billion shares in issue. As per today,theCompany holds approximately 82,193,250 million shares in treasury. The 32.2million B shares allocated for LTV 2013 now correspond to approximately 1percent of the total number of outstanding shares.
Transfer of treasury stock for previously resolved LTV programs
* Transfer of approximately 17.7 million B shares on NASDAQ OMX Stockholm prior to the AGM 2014 to cover certain expenses, mainly social security charges, which may occur in relation to the Long-Term VariableRemuneration Programs 2009, 2010, 2011 and 2012.
Proposal to amend the articles of association
The AGM resolved not to approve Carl Axel Bruno's proposal to add wordingto thearticles of association that at least one fourth of the Board members shallbemen and at least one fourth of the Board members shall be women.
Proposal on voting rights
The AGM resolved not to approve Einar Hellbom's proposal to delegate to theBoard of Directors to review and present to the next AGM how the shares aretobe given equal voting rights.
Resolution on delegations to the Board of Directors
The AGM resolved not to approve the proposals from Thorwald Arvidsson todelegate to the Board to take action to create a shareholders' associationinthe company, to write to the Government of Sweden, requesting a commissiontoinvestigate changed legislation regarding abolishment of voting powerdifferences, and to prepare a proposal regarding Board representation forsmalland midsize shareholders.
NOTES TO EDITORS
Download high-resolution photos andbroadcast-quality video atwww.ericsson.com/press
Ericsson is a world-leading provider of communications technology andservices.We are enabling the Networked Society with efficient real-time solutionsthatallow us all to study, work and live our lives more freely, in sustainablesocieties around the world.
Our offering comprises services, software and infrastructure withinInformationand Communications Technology for telecom operators and other industries.Today40 percent of the world's mobile traffic goes through Ericsson networks andwesupport customers' networks servicing more than 2.5 billion subscriptions.
We are more than 110,000 people working with customers in more than 180countries. Founded in 1876, Ericsson is headquartered in Stockholm, Sweden.In2012 the company's net sales were SEK 227.8 billion (USD 33.8 billion).Ericssonis listed on NASDAQ OMX, Stockholm and NASDAQ, New York stock exchanges.
Ericsson's Annual General Meeting 2013:http://hugin.info/1061/R/1691597/555553.pdf
This announcement is distributed by Thomson Reuters on behalf ofThomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ericsson via Thomson Reuters ONE
FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Communications
Phone: +46 10 719 69 92
E-mail: Email Contact
Ericsson Investor Relations
Phone: +46 10 719 00 00
E-mail: Email Contact