Scandinavian Tobacco Group A/S - Results of the Annual General Meeting
Copenhagen, 26 March 2020
Results of the Annual General Meeting
of Scandinavian Tobacco Group A/S
Scandinavian Tobacco Group A/S (the "Company") held its annual general meeting today. The outcome of the general meeting was as follows:
1. Adoption of the audited annual report
The audited annual report was adopted by the general meeting.
2. Appropriation of profit or loss as recorded in the adopted annual report
The general meeting approved the Board of Directors’ proposal that for the financial year 2019 the Company pays a dividend of DKK 6.10 per share of DKK 1.
3. Adoption of the remuneration of the Board of Directors and Board committees
The general meeting approved the Board of Directors’ proposal for compensation to the Board of Directors for the financial year 2020 as follows:
- Ordinary members of the Board of Directors are paid a base annual fee of DKK 400,000
- The chairman receives three times the base annual fee
- The vice-chairman receives two times the base annual fee
- The chairman of the Audit Committee receives a fee corresponding to 75 percent of the base annual fee
- Other members of the Audit Committee receive a fee corresponding to 37.5 percent of the base annual fee
- The chairman of each of the Remuneration Committee and Nomination Committee receives a fee corresponding to 25 percent of the base annual fee
- The members of each of the Remuneration Committee and Nomination Committee receive a fee corresponding to 12.5 percent of the base annual fee
The fees for the chairmen and members of the committees are in addition to their fee as chairman, vice-chairman or member of the Board of Directors. In addition to the above, the company may also pay social contributions and similar fees that it may be charged by foreign authorities in relation to the fees paid to members of the Board of Directors. Further, the company may pay travel expenses and other expenses related to the work as a member of the Board of Directors.
4. Election of members to the Board of Directors
The general meeting re-elected Nigel Northridge, Henrik Brandt, Dianne Neal Blixt, Luc Missorten, Anders Obel, Marlene Forsell and Claus Gregersen as members of the Board of Directors.
5. Election of auditor(s)
PricewaterhouseCoopers Statsautoriseret Revisionspartnerskab was re-elected as auditor of the Company.
6. Extension of authorisations to the Board of Directors to increase the Company’s share capital without pre-emptive subscription rights for the existing shareholders
The general meeting approved the Board of Directors’ proposal that the existing authorisations to increase the Company’s share capital without pre-emptive rights for existing shareholders set out in Articles 5.1-5.2 of the Company’s Articles of Association are extended for a period of 5 years, i.e. until 26 March 2025.
7. Extension of authorisation to the Board of Directors for the Company to acquire own shares
The general meeting approved the Board of Directors’ proposal that the existing authorisation for the Company to acquire own shares set out in Article 6.1 of the Company’s Articles of Association is extended for a period of 5 years, i.e. until 26 March 2025.
8. Amendment of agenda set out in the Articles of Association
The general meeting approved the Board of Directors’ proposal that a new item 3 regarding presentation of and indicative voting on the remuneration report is added to the standard agenda set out in Article 8.2 of the Company’s Articles of Association due to the introduction of a new section 139b in the Danish Companies Act concerning remuneration reports.
9. Approval of the revised remuneration policy
The general meeting approved the Board of Directors' proposal to adopt a revised remuneration policy. Consequently, the reference to the current guidelines for incentive pay in Article 13.1 of the Company’s Articles of Association is deleted.
The Board of Directors has appointed Nigel Northridge as chairman of the Board of Directors and Henrik Brandt as vice-chairman.
Members of the Audit Committee are Marlene Forsell (chairman), Dianne Neal Blixt and Luc Missorten. Members of the Nomination Committee as well as the Remuneration Committees are Nigel Northridge (chairman), Henrik Brandt, Claus Gregersen and Luc Missorten.
For further information, please contact:
For investor enquiries: Torben Sand, Head of Investor Relations
phone: +45 5084 7222 or firstname.lastname@example.org
For media enquiries: Simon Mehl Augustesen, Director of Group Communications
phone: +1 484-379-8725 or email@example.com
About Scandinavian Tobacco Group
Scandinavian Tobacco Group A/S is a world leading manufacturer of cigars and pipe tobacco with an annual production of four billion cigars and 5,000 tonnes of pipe and fine-cut tobacco.
The Group holds market-leading positions in several categories and has a portfolio of more than 200 global and local brands.
Scandinavian Tobacco Group has its headquarter in Copenhagen, Denmark – and employs approximately 11,000 people in Europe, the US, Canada, Australia, New Zealand, the Dominican Republic, Honduras, Nicaragua, Indonesia and Sri Lanka. For more information please visit www.st-group.com
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
PRF: Consolidated Unaudited Interim Report of AS PRFoods for the 1st quarter of 2020/2021 financial year29.11.2020 18:21:11 CET | Press release
OVERVIEW OF ECONOMIC ACTIVITIES MANAGEMENT COMMENTARY The Group's consolidated EBITDA in the 1st quarter of the 2020/2021 financial year was -0.48 million euros (1Q 19/20: 1.47 million euros). EBITDA from operations (i.e. before one-offs and revaluation of bioassets) was -0.34 million euros (1Q 19/20: 0.73 million euros). EBITDA from operations was negatively impacted by a decrease in the share of smoked products in sales, which was mainly due to lower sales volumes and prices in Finland in the private label segment; Covid-19’s negative impact on sales in the HoReCa (hotels, restaurants, catering) sector and a decrease in fish market prices - salmon price decreased -9.4% and rainbow trout price decreased -21.4% compared to the same period last year. Due to the above, the gross margin decreased by 4.0 pp compared to the 1st quarter of the previous financial year (1Q 20/21: 9.4% vs. 1Q 19/20: 13.4%). The net loss for the quarter was 1.44 million euros (1Q 19/20: net profit 0.57 million e
Touax: Success of the partial buyback of the Undated Deeply Subordinated Bond27.11.2020 17:45:00 CET | Press release
PRESS RELEASE Paris, November 27, 2020 – 5.45 p.m. YOUR OPERATIONAL LEASING SOLUTION FOR SUSTAINABLE TRANSPORTATION Success of the partial buyback of the Undated Deeply Subordinated Bond Touax SCA announces today that it has bought back and canceled part of the Undated Deeply Subordinated Bond issued in August 2013, November 2013 and May 2014, for a nominal amount of 24.2 million euros. The outstanding amount of the bonds stands at 26.6 million euros. This operation will enable to optimize the capital structure of the Group and to lower the related costs. Fabrice and Raphaël Walewski, managing partners of Touax Group commented: “The strategic refocusing initiated since 2018 around the long-term rental business of environmentally-friendly transport equipment has allowed a return to growth and profit over the first half of 2020. The capital increase of Touax Rail for 81.9 million euros achieved at the end of September 2020 significantly strengthened the capital of the Rail division and t
CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK MUNICIPAL BONDS27.11.2020 16:20:00 CET | Press release
Anbudsförfarande kommuner och regioner, 2020-12-01BondsFixed rate notes issued in SEK by Municipalities or Regions with maturity in: 2025 The following issuers are accepted for delivery: Göteborgs Stad Jönköpings Kommun Malmö Stad Nacka Kommun Region Skåne Stockholms Stad Region Stockholm Vellinge Kommun Västerås Stad Delivery may not be made in Bonds purchased by the Counterparty from the issuer less than one week prior to the date for announcing the Specific terms, i.e. the purchase may not have been made after: 2020-11-20BidsBids are made to tel 08-696 69 70 and confirmed in writing by a filled-in Bid form by e-mail to EOL@riksbank.se Bid date2020-12-01Bid times10.00-11.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)SEK 750 +/- 750 millionHighest permitted bid volume (corresponding nominal amount)The total bid volume from one Counterparty for the two Credit rating classes may not exceed SEK 1 000 million. No bid may contain Bonds exceeding SEK 750 millio
CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK COVERED BONDS27.11.2020 16:20:00 CET | Press release
Bid procedure, 2020-12-03BondsSTADSHYPOTEK AB: 1590, SE0012676690, 2025-09-03 SWEDBANK HYPOTEK AB: 194, SE0012142206, 2024-09-18 NORDEA HYPOTEK AB: 5535, SE0013358413, 2025-09-17 SKANDINAVISKA ENSKILDA: 580, SE0013101722, 2025-12-17 LANSFORSAKRINGAR HYPOTEK: 518, SE0011309244, 2025-09-17 DANSKE HYPOTEK AB: 2512, SE0013877214, 2025-12-17 SWEDISH COVERED BOND: 146, SE0013381571, 2025-06-11 Bid date2020-12-03Bid times09.00-10.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)1590: 1200 mln SEK +/-600 mln SEK 194: 1000 mln SEK +/-500 mln SEK 5535: 1000 mln SEK +/-500 mln SEK 580: 800 mln SEK +/-400 mln SEK 518: 600 mln SEK +/-300 mln SEK 2512: 300 mln SEK +/-150 mln SEK 146: 600 mln SEK +/-300 mln SEK Maximum 5500 mln in totalHighest permitted bid volume (corresponding nominal amount)1590: 1200 mln SEK per bid 194: 1000 mln SEK per bid 5535: 1000 mln SEK per bid 580: 800 mln SEK per bid 518: 600 mln SEK per bid 2512: 300 mln SEK per bid 146: 600 mln SEK per bid Lo
CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK GOVERNMENT BONDS27.11.2020 16:20:00 CET | Press release
Bid procedure, 2020-12-04BondsSWEDEN I/L BOND: 3108, SE0004211084, 2022-06-01 SWEDEN I/L BOND: 3109, SE0005703550, 2025-06-01 Bid date2020-12-04Bid times09.00-10.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)3108: 500 mln SEK +/-250 mln SEK 3109: 500 mln SEK +/-250 mln SEK Maximum 1000 mln in totalHighest permitted bid volume (corresponding nominal amount)3108: 500 mln SEK per bid 3109: 500 mln SEK per bid Lowest permitted bid volume (corresponding nominal amount)SEK 50 million per bidExpected allocation timeNo later than 10.10 (CET/CEST) on the Bid dateDelivery and payment date2020-12-08Delivery of bondsTo the Riksbank's account in Euroclear Sweden AB's securities settlement system 1 4948 6383 Stockholm, 2020-11-27 This is a translation of the special terms and conditions published on www.riksbank.se. In the case of any inconsistency between the English translation and the Swedish language version, the Swedish language version shall prevail. Complete term
CONDITIONS FOR PURCHASES OF CORPORATE BONDS27.11.2020 16:20:00 CET | Press release
Bid procedure, 2020-12-02BondsBonds issued in SEK by Swedish non-financial undertakings. The following bonds are eligible for delivery: VASAKRONAN AB: XS1941844174, 2022-02-11 VASAKRONAN AB: XS2051470552, 2024-09-11 HEMSO FASTIGHETS AB: XS1876163103, 2022-03-07 HEMSO FASTIGHETS AB: XS1938445530, 2021-10-22 VOLVO TREASURY AB: XS2153414292, 2022-12-08 VOLVO TREASURY AB: XS2018763461, 2021-06-28 HUSQVARNA AB: SE0009664543, 2022-03-01 HUSQVARNA AB: SE0010869669, 2023-02-14 AB INDUSTRIVARDEN: SE0011869668, 2022-02-28 AB INDUSTRIVARDEN: SE0012676724, 2023-02-20 Delivery of a Bond may not occur if the Counterparty has purchased the Bond from the issuer more recently than one month prior to the date of announcement of the Special terms, that is, the purchase may not have taken place after: 2020-11-02Bid date2020-12-02Bid times10.00-11.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)XS1941844174: 30 mln SEK +/-30 mln SEK XS2051470552: 30 mln SEK +/-30 mln SEK XS18761