Ericsson’s Annual General Meeting
Ericsson’s (NASDAQ: ERIC) Annual General Meeting of shareholders will be held at the Annex to the Globe Arena, Globentorget, Stockholm, Sweden at 3.00pm on Wednesday, April 9, 2008. Below is an extract from the notice. The complete notice of the Annual General Meeting is enclosed as a PDF document.
The nomination committee proposes Roxanne Austin to be elected new member of the board, and re-election of Sir Peter L. Bonfield, Börje Ekholm, Ulf J. Johansson, Sverker Martin-Löf, Nancy McKinstry, Anders Nyrén, Carl-Henric Svanberg, Michael Treschow and Marcus Wallenberg. Kathrine Hudson has declined re-election. In view of that the nomination committee proposes the number of board members to be elected by the meeting remains ten and no deputy directors be elected.
The nomination committee proposes Michael Treschow be re-elected Chairman of the Board of Directors.
The nomination committee proposes an unchanged nomination committee process in relation to the previous year and that no remuneration is to be paid to the committee members. However, the company shall bear the expenses related to the work of the nomination committee.
The nomination committee proposes that it be possible to pay part of the fees to the directors, in respect of their board assignment (however, not in respect of committee work), in the form of synthetic shares. A synthetic share signifies a right to receive future payment of an amount corresponding to the market price of a share of series B in the company on the OMX Nordic Exchange Stockholm at the time of payment.
The board of directors proposes a dividend of SEK 0.50 per share and Monday, April 14, 2008, as record date for dividend.
The board of directors proposes a reverse split of shares 1:5, meaning that five shares of series A and five shares of series B respectively are consolidated into one share of series A and one share of series B respectively. The resolution shall be registered by the Companies Registration Office on May 28, 2008 and the record date for the reverse split is proposed to be June 4, 2008.
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