Bulletin from Elekta's Annual General Meeting 2011
A total of 433 shareholders who were entitled to vote, representing 59,45 per cent of the total votes, participated in the annual general meeting of Elekta AB (publ).
- Per-share dividend to shareholders of SEK 4.00 (3.00)
- Akbar Seddigh, Hans Barella, Luciano Cattani, Vera Kallmeyer, Laurent Leksell, Jan Secher and Birgitta Stymne Göransson were reelected to the board
- Siaou-Sze Lien and Wolfgang Reim were elected new members of the board
Elekta CEO Tomas Puusepp began his presentation by stressing the importance of an innovative approach for companies that want to remain in the forefront of development. Ever since its earliest days, Elekta has never lost sight of that attitude.
Mr. Puusepp commented on the company's performance during fiscal year 2010/11 and the first quarter of 2011/12, as well as the forecast for the entire year.
He also described Elekta's strategy and focus on growth.
"We expect the pace of our geographical expansion to accelerate over the next few years, providing more people around the world with access to cancer care. Elekta is already a leader in most growth markets, which now account for approximately one-third of group sales."
Mr. Puusepp offered several examples of growth drivers in the area of cancer care:
- Due to rising prosperity, people are living longer and developing cancer and other age-related diseases.
- Access to care is unevenly distributed around the world, which is creating growing demand in developing countries.
- Hospitals and patients are asking for non-invasive treatment options more than ever before.
- Healthcare systems are becoming more advanced and dependent on IT applications.
In closing, Mr. Puusepp thanked Elekta’s employees for their extraordinary efforts during the year.
Appropriation of profits
Elekta's dividend policy is to distribute at least 30% of net profit in the form of dividends, share buybacks or similar initiatives.
In accordance with the board's proposal, the meeting voted that a per-share dividend of SEK 4.00 would be distributed to shareholders and that the rest of the unappropriated earnings of SEK 1,531,223,172 would be carried forward to new account. The record day for the dividend was set for September 16, 2011. Payment from Euroclear Sweden AB is expected on September 21, 2011.
Adoption of the income statement and balance sheet
The meeting adopted the income statement and balance sheet for the parent company, as well as the consolidated income statement and consolidated balance sheet, as of April 30, 2011. The members of the board and CEO were discharged from liability for fiscal year 2010/11.
Election of the board and remuneration
In accordance with the proposal of the nomination committee, the meeting reelected Akbar Seddigh, Hans Barella, Luciano Cattani, Vera Kallmeyer, Laurent Leksell, Jan Secher and Birgitta Stymne Göransson to the board, while electing Siaou-Sze Lien and Wolfgang Reim as new members of the board. Mr. Seddigh was reelected as chairman of the board.
In accordance with the proposal of the nomination committee, the meeting approved that remuneration of SEK 3,465,000 (2,890,000) is to be paid to the board, including SEK 725,000 (625,000) to the chairman of the board, SEK 330,000 (310,000) to each external member of the board, SEK 70,000 (unchanged) to the chairman and SEK 35,000 (unchanged) to other members of the remuneration committee, SEK 150,000 (120,000) to the chairman and SEK 70,000 (60,000) to other members of the audit committee. No board member who is employed by the company is to receive remuneration or compensation for committee work.
Guidelines for remuneration to executive management
Mr. Seddigh explained Elekta's remuneration structure for executive management. In accordance with the board's proposal, the meeting approved guidelines for remuneration and other terms of employment for executive management. The guidelines apply to employment contracts that are signed after the meeting's approval, as well as cases in which changes are made to existing contracts after that date.
Approval of Performance Share Program 2011
In accordance with the board's proposal, the meeting approved adoption of Performance Share Program 2011. The program covers approximately 120 key personnel, who will have the chance to receive free allotment of Class B Elekta shares. Assuming that a maximum number of shares are allotted under Performance Share Program 2011 at a price of SEK 250, the costs, including social security contributions and financing of repurchased shares, will be an estimated SEK 66,500,000.
Acquisition and transfer of own shares
The meeting authorized the board to make one or more acquisitions of own shares until the next annual general meeting such that the company does not hold more than 10 percent of all shares. The meeting also authorized the board to make one or more transfers of own shares until the next annual general meeting to finance takeovers or other types of strategic investments.
In view of Performance Share Program 2011, the meeting approved transfer of up to 266,000 own shares and authorized the board to make one or more transfers on the Nasdaq OMX Stockholm Exchange until the next annual general meeting for a total of up to 36,700 shares in order to cover certain fees, primarily social security contributions.
In view of Performance Share Programs 2009 and 2010, the meeting authorized the board to make one or more transfers on the Nasdaq OMX Stockholm Exchange until the next annual general meeting, for a total of up to 47,250 shares in order to cover certain fees, primarily social security contributions.
Amendment to the articles of association
In accordance with the board's proposal, the meeting approved an amendment to section 7 of the articles of association to the effect that the auditor will continue to have a four-year term.
The meeting approved the proposed procedure for appointing members of the nomination committee for the 2012 annual general meeting, as well as the committee's assignment.
For further information, please contact:
Stina Thorman, Vice President Corporate Communications, Elekta AB
+46 8 587 254 37, email@example.com
Elekta is a human care company pioneering significant innovations and clinical solutions for treating cancer and brain disorders. The company develops sophisticated, state-of-the-art tools and treatment planning systems for radiation therapy and radiosurgery, as well as workflow enhancing software systems across the spectrum of cancer care. Stretching the boundaries of science and technology, providing intelligent and resource-efficient solutions that offer confidence to both healthcare providers and patients, Elekta aims to improve, prolong and even save patient lives, making the future possible today.
Today, Elekta solutions in oncology and neurosurgery are used in over 5,000 hospitals globally, and every day more than 100,000 patients receive diagnosis, treatment or follow-up with the help of a solution from the Elekta Group.
Elekta employs around 2,800 employees globally. The corporate headquarter is located in Stockholm, Sweden, and the company is listed on the Nordic Exchange under the ticker Elekta. Website: www.elekta.com