Communication from Collector’s Annual General Meeting 27 April 2020
Collector’s Annual General Meeting was held on April 27, 2020 in Gothenburg. Summarized below are the most important decisions from the Meeting.
Adoption of balance sheet and income statement
The Meeting adopted the balance sheet and income statement for the Parent Company and the Group for the 2019 financial year.
Appropriation of the company’s earnings
The Annual General Meeting resolved that the unappropriated earnings at the disposal of the Annual General Meeting of SEK 1,395,699,050 be appropriated such that SEK 1,395,699,050 be carried forward, meaning that no dividend will be paid.
Board of Directors and auditors
In accordance with the proposal from the Nomination Committee, the Annual General Meeting resolved to re-elect Board members Erik Selin, Christoffer Lundström, Anna Kinberg Batra and Charlotte Hybinette, and to newly elect Marcus Hansson, Ulf Croona, Bengt Edholm and Marie Osberg. Erik Selin was elected Chairman of the Board. For a more detailed presentation of the Board members, please refer to www.collector.se.
The Meeting elected Ernst & Young AB as auditor for the period until and including the next Annual General Meeting.
The Meeting also resolved that fixed Board fees be paid in the amount of SEK 720,000 to the Chairman of the Board and in the amount of SEK 360,000 to each of the other Board members and that members of the Credit Committee, in addition to their Board fees, receive an additional fee of SEK 150,000 each, and that members of the Risk and Audit Committee, in addition to their Board fees, receive an additional fee of SEK 100,000 each. The Annual General Meeting also resolved that fees to the auditor should be paid in accordance with an approved invoice.
Remuneration principles for senior executives
In accordance with the proposal by the Board of Directors, the Meeting resolved that remuneration to senior executives should consist of fixed salary, pension and other benefits. To avoid encouraging senior executives to take unsound risks, no form of variable compensation shall be payable. The full guidelines for remuneration to senior executives can be found at www.collector.se.
Authorization for the Board to decide to issue new shares
The Annual General Meeting resolved to authorize the Board of Directors to decide, on one or more occasions and with or without deviation from the preferential rights of existing shareholders, for cash payment, payment in kind or through set-off, to issue shares corresponding to at most 10 percent of the total number of shares in the Company during the period until the next Annual General Meeting at the latest (that is, taking into account the new share issue with preferential rights for existing shareholders carried out by Collector in March 2020).
Amendment of the Articles of Association
The Meeting resolved, in accordance with the Board of Directors’ proposal, to amend the Company’s Articles of Association to adapt the Articles of Association to amendments to the Companies Act that have taken effect and to future amendments, as well as to remove the possibility of issuing preference shares. In addition, a new paragraph was incorporated into the Articles of Association allowing the Board of Directors to collect powers of attorney in accordance with the arrangement set out in Chapter 7, Section 4 of the Swedish Companies Act, permitting the Board of Directors to decide that shareholders should be able to exercise their voting rights by post prior to the Annual General Meeting. The full Articles of Association can be found at www.collector.se.
For more information, please contact:
Martin Nossman, CEO
Phone: +46 70 330 26 75
Madeleine Mörch, Finance & IR Manager
Phone: +46 73 712 04 52
About Collector bank
Collector Bank is a niche bank that offers cost-effective and innovative financial solutions to private and corporate customers. Innovation is one of our major drivers. Read more about Collector