Bulletin from NOTE's Annual General Meeting on 25 April 2007
The AGM took the following decisions, among others:
- to distribute to shareholders a dividend of SEK 2.25 per share, totalling SEK 21.7 million, for the financial year 2006, in accordance with the Board's proposal. The record date was set for Monday 30 April and the dividend is expected to be distributed on Friday 4 May 2007.
- to discharge the Management Board and the Executive Director from liability for 2006.
- to elect Kjell-Åke Andersson, Bruce Grant, Håkan Gellerstedt, Göran Jansson, Hans Johansson and Per-Arne Sandström as members of the Board of Directors until the next Annual General Meeting, on the proposal of shareholders holding approximately 40 per cent of the votes and capital in the company. Bruce Grant was elected Chairman of the Board.
- in accordance with the Nomination Committee's proposal, to set the remuneration to the Board for the period until the next Annual General Meeting at SEK 250,000 for the Chairman and SEK 100,000 for a member who is not employed by the company and to allocate a maximum of SEK 60,000 for committee work within the Board.
- to establish a Nomination Committee in accordance with the principles described in the notice of the Annual General Meeting with the adjustment that the Nomination Committee comprises one representative of each of the five largest shareholders (the Board's proposal: the three largest shareholders).
- in accordance with the Board of Directors' proposal, to introduce guidelines for remuneration to senior executives in accordance with the principles described in the notice to the Annual General Meeting.
New Board of Directors
Bruce Grant, Chairman
Chairman and principal owner of Garden Growth Capital LLC and Applied Value LLC, with assignments for major listed companies such as Ericsson, General Electrics, General Motors and PepsiCo.
Chairman of the Board of Human Care, listed on OMX Nordic Exchange in Stockholm. Board member of Stille, listed on OMX First North. Co-founder and board member of Essex Electronics (sold to Nordic Capital and now part of Sanmina).
Previous experience as board member of Tele2 (chairman), Metro, Transcom, Kinnevik and Korsnäs. Advisor on profitability improvement programmes and more efficient capital structures in the above companies between 1997-2003.
Born in 1959.
Shareholding in NOTE incl. companies: 410,000 shares.
Kjell-Åke Andersson
CEO and board member of the development companies NOMIX and Imita.
EMS industry experience since the 1970s with Facit/ADDO and Electrolux, and one of the founders of Xperi, which merged with NOTE in 2002. Chairman of the Board of MedicPen, listed on Aktietorget. Former Board member and CEO of NOTE.
Born in 1946.
Shareholding in NOTE: 461,680 shares
Mr Håkan Gellerstedt
Management consultant, self-employed in SARL MTL Consultants, France.
Experience as a management consultant in own employment as well as in InterPares and Indevo, including assignments regarding global production strategy, profitability improvement programmes and business strategies for Swedish and international companies.
Born in 1947.
Shareholding in NOTE: 0 shares
Mr Göran Jansson
Managing Partner of the private equity firm Applied Capital Partners.
Previously Deputy CEO and CFO at Assa Abloy AB, also responsible for Sourcing and R&D.
Board member of Precise Biometrics and Axis Communications, among others. Proposed as board member of Boss Media and Human Care.
Born in 1958.
Shareholding in NOTE: 0 shares
Mr Hans Johansson
Founder and 1991-2006 President and CEO of Semcon, a consulting company active in product development, technology information and IT, listed on the OMX Nordic Exchange in Stockholm. Board member of Chalmers Institute of Technology, Nimbus Boats and Sportmanship Invest.
Proposed as member of the board of Human Care.
Born in 1955.
Shareholding in NOTE: 0 shares
Per-Arne Sandström
Former Executive Vice President Ericsson. Chairman of the Board of Coor, Powermill Service Group and P-A Sandström Consult. Board member of Human Care, Saab, One Phone Holding, Cellmax, KTH Executive School and Applied Invest.
Born in 1947.
Shareholding in NOTE: 1,000 shares.
Arne Forslund
President and CEO of NOTE from 1 November 2005 to 15 February 2007, and Board member since 2006. Previous experience from senior positions in business, including Danaher Motion, Ortivus, Siemens-Elema and most recently at Teleflex Morse as Operations Director Europe.
Born in 1963.
Shareholding in NOTE: 10,000 shares.
New CEO
At the statutory Board meeting following the Annual General Meeting, Mr Arne Forslund was appointed as the new Chief Executive Officer, a position he left in February 2007. Mr Forslund will take up the position with immediate effect.