The AGM resolved to follow the proposals prepared by the board and nomination committee. All decisions were unanimous. The minutes taken at the AGM will be published on Cybercom's website, www.cybercom.com. These items summarise the AGM resolutions.
The AGM resolved that no dividend shall be paid for financial year 2013.
Discharge from liability
The board of directors and CEO were discharged from liability for financial year 2013.
Board election and remuneration
Ulrika Dellby and Katarina Kämpe were newly elected, and Hampus Ericsson, Jan-Erik Karlsson, Nicolas Hassbjer and Dag Sundman were re-elected. Thomas Landborg had declined re-election. Hampus Ericsson was elected as board chairman. Board remuneration was fixed at a total of SEK 1,200,000, wherein remuneration to the chairman of the board and to each of the other board members elected by the AGM of SEK 200,000. It was also resolved that remuneration for audit committee work shall amount to SEK 75,000 for the chairman of the committee and SEK 50,000 for committee members.
Election of auditor
KPMG AB was elected auditor for the period until the end of the 2015 AGM.
Guidelines for remuneration of senior executives
In brief, the AGM resolved that the company shall offer a market-based total compensation package that enables the recruitment and retention of senior executives. Remuneration to senior executives consists of a fixed salary, variable pay, pension provisions and other benefits. The variable pay is based on achieved predetermined operational objectives, the wide majority of which correspond to financial targets. The variable remuneration is paid in the form of variable pay to each senior executive at an amount corresponding to a maximum of 50 percent of basic salary.
The board also has the right to design variable pay systems so that the total variable remuneration to the CEO is an amount equal to a maximum of 100 percent of basic salary, provided that such variable pay is linked to well defined commitments to purchase shares in Cybercom for a substantial part of the compensation.
The objectives for variable pay are revised annually. The pension provisions shall form a part, and where the balance between pension and basic salary is agreed upon in each individual case.
Cybercom is required to make this information public in compliance with the Swedish Securities Market Act. The information was submitted for publication on May 7 at 7.00 pm.
For further information, please contact
Hampus Ericsson, Board Chairman +46 708 55 59 92
Helena Borglund, General Counsel and AGM Secretary +46 709 41 22 04
Kristina Cato, Communications Director and IR Manager +46 708 64 47 02