At Vattenfall’s Annual General Meeting held on Wednesday, the Chairman of the Board Lars G Nordström summarised developments since the previous year’s AGM. The President and CEO Øystein Løseth presented Vattenfall’s operations, which in 2012 had focused on improving efficiency and strengthening Vattenfall’s financial position, despite continuous difficult market conditions.
The owner was represented by Erik Thedéen, State Secretary at the Ministry of Finance, and Malin Fries, Deputy Director.
Adoption of the income statement and balance sheet
The AGM adopted the income statement and balance sheet for Vattenfall AB and the Vattenfall Group.
Of the total profits of SEK 73,196,152,198 at the disposal of the AGM, it was decided to pay out SEK 6,774,000,000 to the shareholder and carry SEK 66,422,152,198 forward. The dividend corresponds to SEK 51,44 per share and will be paid on 2 May 2013.
Discharge of liability
The AGM decided to discharge the members of the Board and the CEO from liability.
Guidelines for remuneration
The AGM decided to retain the principles for remuneration to senior executives unchanged.
Remuneration to the Board and auditors
The AGM decided that unchanged fees for the time until the conclusion of the next Annual General Meeting shall be payable in the amount of SEK 580,000 for the Chairman of the Board and SEK 280,000 for each of the other Board members elected by the AGM. For work in the Remuneration Committee, the Audit Committee and the Safety and Risk Committee an unchanged fee of SEK 60,000 shall be paid to the Committee Chairman and SEK 45,000 to each of the other members.
For work in the External Relations and Ethics Committee, proposed by the Board, a fee of SEK 60,000 shall be paid to the Committee Chairman and SEK 45,000 to each of the other members, in line with the other committees.
No fees shall be paid to Board member who is employed at the Swedish Government Offices or to employee representatives.
The AGM decided that the fee for the auditor’s work shall be paid as per approved invoice.
Election of Board members and auditors
Lars G Nordström (Chairman since June 2011) was re-elected as Chairman of the Board until the conclusion of the next AGM. Eli Arnstad, Patrik Jönsson, Håkan Erixon, Gunilla Berg, Håkan Buskhe and Jan-Åke Jonsson were re-elected as members of the Board. Cecilia Vieweg did not stand for re-election.
Ernst & Young AB was re-elected as auditor.
More information about the AGM may be found at vattenfall.com under “Corporate governance”.
Vattenfall publishes the above information pursuant to the Swedish Securities Market Act.
For more information, contact:
Vattenfall’s Press Office, +46 (0)8-739 50 10
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