Report from Trelleborg AB:s General Meeting
Report from Trelleborg AB:s Annual General Meeting The Trelleborg's Annual General Meeting in 2002 attracted slightly more than 1,000 participants to Söderslättshallen in Trelleborg. In his address, Group CEO Fredrik Arp commented on the Group's performance during 2001 and work to create continued growth. He then reported on today's Trelleborg and described developments during the first quarter of 2002. Dividend The Annual General Meeting voted to approve the Board and President's proposed dividend of SEK 4.00 per share for the 2002 financial year. April 26, 2002 was approved as the record date, which means that the dividend will begin to be paid from the Swedish Securities Register Center (VPC) on May 2, 2002. The Group's dividend policy states that over the long term the dividend should amount to between 30 and 50 percent of net profit for the year. The dividend proposed for 2001 means that 48 percent of net profit, excluding non-comparable items, will be paid. Board of Directors Trelleborg's long-standing Chairman, Rune Andersson, and Vice Chairman, Lennart Nilsson, resigned from the Board and were thanked for their past services by the shareholders at the Meeting. The other members of the Board were reelected. At the statutory meeting of the Board following the AGM, Anders Narvinger was elected as the company's new Chairman. Reclassification of A shares The Annual General Meeting approved the reclassification of A shares to a corresponding number of B shares. Principal owner, Dunker Funds and Foundations, is reclassifying 2.5 million of its 12 million A shares to B shares. In accordance with what was stated when the buy-back program was started, this measure will restore Dunker Funds and Foundations' voting rights to the level prevailing prior to the commencement of the buy-back program. Following the reclassification, the remaining A shares will correspond to 53.9% of the voting rights of the current 90.6 million shares and 52.4% after full dilution (after convertible debentures and warrants). Buy-back of shares The Annual General Meeting approved an extension of the Board's earlier mandate to acquire up to 10% of the shares outstanding during the period up to the commencement of the next AGM. Options program for senior executives The Board was authorized to allot options to approximately 120 senior executives within the Group. The extent and terms of the program correspond with the program for 2001. For further information, please contact Senior Vice President, Corporate Communications, Mikael Byström, telephone: +46 410 670 37, or +46 0708-55 21 69. Trelleborg is a global industrial group. Operations are based on spearhead competence within polymer materials and a high level of industrial know-how, combined with functional solutions and systems designed to meet the needs of our customers. The Trelleborg Group has annual sales of approximately SEK 19 billion with approximately 16,500 employees in 40 countries. Trelleborg consists of four business areas: Trelleborg Automotive, Trelleborg Wheel Systems, Trelleborg Engineered Systems and Trelleborg Building Systems. The Trelleborg share has been quoted on the A list of the OM Stockholm Exchange since 1964. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/04/23/20020423BIT01300/wkr0001.doc http://www.waymaker.net/bitonline/2002/04/23/20020423BIT01300/wkr0002.pdf