Annual General Meeting 2014

The Annual General Meeting was held on 29 April 2014. The meeting was attended by 95 shareholders, in person or through a proxy, representing 77 percent of the votes. All meeting-elected Board members were present. Also present were the Company’s auditor and members of the nomination committee.

The meeting’s main decisions were as follows:

  • Adoption of the Board’s proposal for no dividend to be paid for 2014.
  • Payment of annual fees to the Board of Directors (excluding travel expenses) were set at SEK 1,925,000,  distributed as follows: SEK 400,000 each to the Chairman and Deputy Chairman and SEK 225,000 to each of the other Board members who are not employees of the Group. The meeting also adopted auditors’ remuneration for reasonable costs, to be paid against invoice based on actual time spent on carrying out their assignments.
  • Principles for remuneration and terms of employment for the CEO and other senior executives.
  • Procedures for the appointment of the nomination committee and its work.

Nomination committee

The nomination committee for the period up to the 2014 meeting consisted of Carl Mikael von Mentzer (Deputy Chairman, Concordia Maritime), Karl-Magnus Sjölin (Stena Sessan AB) and Arne Lööw (Fjärde AP-fonden). The committee represented approx. 76 percent of the shareholders’ votes. The composition of the committee was announced on Concordia Maritime’s website on 15 October 2013.