Company Announcement No. 6-2017:
On Thursday 30 March 2017 at 16.00 (CET), FLSmidth & Co. A/S held its Annual General Meeting at Tivoli Hotel & Congress Center, Copenhagen, with the following agenda:
- The Board of Directors' report on the company's activities in 2016
- Presentation and approval of the Annual Report for 2016
- Approval of the Board of Directors' fees:
a. Final approval of fees for 2016
b. Preliminary determination of fees for 2017
- Distribution of profits or covering of losses in accordance with the approved Annual Report
- Election of members to the Board of Directors
- Appointment of auditor
- Proposals from the Board of Directors
The Board of Directors submitted the following proposals:
7.1 - Proposal for amendment of the Articles of Association - company announcements in English
7.2 - Proposal for amendment of the Articles of Association - introduction of electronic communication
7.3 - Treasury shares
7.4 - Approval of updated guidelines for incentive pay
8. Any other business
Re 1: The General Meeting took note of the Board of Directors' report.
Re 2: The General Meeting approved the Annual Report for 2016.
Re. 3: Approval of Board of Directors' fees:
a: The General Meeting approved the Board of Directors' fees for 2016.
b: The General Meeting approved the preliminary determination of fees for 2017.
Re. 4: The Board of Directors' proposal to pay out a dividend of DKK 6 per share was adopted.
Re. 5: The General Meeting re-elected Mr Vagn Ove Sørensen, Mr Tom Knutzen, Ms Caroline Grégoire Sainte Marie, Mr Marius Jacques Kloppers and Mr Richard Robinson Smith (Rob Smith) for the Board of Directors. The General Meeting also elected Ms Anne Louise Eberhard as a new member of the Board of Directors.
Re. 6: The General Meeting adopted the proposal by the Board of Directors to appoint Ernst & Young Godkendt Revisionspartnerselskab as auditor in accordance with the recommendation from the audit committee.
Re. 7.1: The General Meeting adopted the Board of Directors' proposal for amendment of the Articles of Association - company announcements in English.
Re. 7.2: The General Meeting adopted the Board of Directors' proposal for amendment of the Articles of Association - introduction of electronic communication.
Re. 7.3: The General Meeting adopted the proposal by the Board of Directors that it be authorised until the next Annual General Meeting to let the company acquire treasury shares equivalent to a total of 10% of the company's share capital at the time of the authorisation, provided that the company's total holding of treasury shares at no point exceeds 10% of the company's share capital. The consideration may not deviate more than 10% from the official price quoted on Nasdaq Copenhagen at the time of acquisition.
Re. 7.4: The General Meeting approved the updated guidelines for incentive pay.
The chairman of the Annual General Meeting, Mr Klaus Søgaard, closed the Annual General Meeting at 17.28 hours.
46.45 % of the votes were represented at the Annual General Meeting.
At the subsequent initial Board Meeting, the Board elected Mr Vagn Ove Sørensen as Chairman and Mr Tom Knutzen as Vice Chairman.
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FLSmidth is the market-leading supplier of productivity to the global mining and cement industries. Headquartered in Copenhagen, Denmark, and with offices in more than 50 countries, FLSmidth delivers engineering, equipment and service solutions to customers worldwide. Productivity, sustainability, and quality are focus areas for the 12,000 employees in FLSmidth. The company generates annual revenue of approximately DKK 18 billion. Read more on www.flsmidth.com