Submission and adoption of accounts
The annual general meeting noted that the annual accounts and the auditor’s report, and consolidated accounts and auditor’s report on the consolidated accounts for the financial year 2021 had been duly submitted, and adopted the profit and loss statement and balance sheet and consolidated profit and loss statement and consolidated balance sheet.
The annual general meeting adopted the board’s proposal for a dividend of SEK 13.50 per share, with the remaining balance carried forward. The record day for the dividend is 3 May 2022. The dividend is expected to be distributed by Euroclear Sweden AB on 6 May 2022.
Discharge from liability
The annual general meeting discharged the members of the board and the CEO from liability for their management of the company during 2021.
Board and board remuneration
The annual general meeting resolved that the board shall consist of eight board members with no deputies, and elected Magnus Lindquist, Michel van der Bel, Liv Fiksdahl, Hans Larsson, Andreas Näsvik, Magdalena Persson, Andrés Rubio and Ragnhild Wiborg.
The annual general meeting elected Magnus Lindquist as chairman of the board.
Board remuneration and remuneration for committee work was established to a total of SEK 7,195,000 to be distributed as follows:
- SEK 1,525,000 to the chairman of the board
- SEK 680,000 to each of the other board members
- SEK 290,000 to the chairman of the audit and risk committee
- SEK 175,000 to each of the other two members of the audit and risk committee
- SEK 90,000 to each of the three members of the remuneration committee
Additional compensation for travel time of SEK 20,000 per physical board meeting held in Sweden will be paid to Andrés Rubio and Michel van der Bel.
The annual general meeting approved the board’s remuneration report.
Guidelines for remuneration and other terms of employment for key executives
The annual general meeting approved the board’s proposed guidelines for executive remuneration and other terms of employment for key executives.
Long-term incentive program
The annual general meeting approved the board’s proposal for a long-term incentive program for 2022. The program includes up to 78 individuals divided into three groups: 1) the CEO, the CFO and the CIO, 2) other members of the Group Management Team and 3) other senior managers and key employees. The participants will be offered to be allocated performance shares or performance cash, with a maximum values for each participant. Allocation will be conditional on continued employment until 1 January 2025. Allocation of performance shares will be conditional on performance targets set by the board, total shareholder return (TSR) and Cash EPS. The total IFRS 2 costs for the program in case of maximum outcome are estimated to a maximum of MSEK 78. The company has the right to acquire and transfer own shares to fulfil its undertakings under the program.
Mandate to the board regarding acquisition and transfer of own shares
In accordance with the board’s proposal, the meeting authorised the board to, until the end of the next annual general meeting, resolve on purchase and transfer of the company’s own shares on a regulated market or a market corresponding to a regulated market outside the European Economic Area. The aggregated holding of the company’s own shares shall not at any time exceed 10 per cent of the total number of shares in the company.
The minutes from the annual general meeting will be published on the company’s website within two weeks.
Board resolution to repurchase own share
At the statutory board meeting, the board has, as authorised by the annual general meeting, resolved to initiate a buyback program for up to 320,000 own shares to secure the long-term incentive program 2022.
The acquisition of shares shall take place on a regulated market or a market corresponding to a regulated market outside the European Economic Area and shall be managed by an investment firm or a credit institution which makes its trading decisions in relation to the company’s shares independently of, and without influence by, the company in accordance with the EU Market Abuse Regulation (596/2014), the EU Commission’s delegated Regulation (2016/1052) and the applicable rules of Nasdaq’s Nordic Main Market Rulebook for Issuers of Shares. The buyback program will run between 2 May and 17 June 2022.
The buybacks will be done on the following terms:
1. The maximum number of shares that can be repurchased is 320,000. The company’s holdings may not exceed 10 per cent of all the shares in the company at any time. The total share buybacks under the program may not exceed MSEK 100.
2. Acquisition of shares may be made at a price per share within the recorded interval, i.e. the interval between the highest buying price and the lowest selling price.
3. Payment for the shares shall be made in cash.
Intrum currently holds 866,717 own shares.
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This information was submitted for publication, through the agency of the contact person set out above 29 April 2022 at 16.15 CET.