06 Mar 2009 20:30

SEB's Annual General Meeting 2009

At SEB's Annual General Meeting (AGM) this Friday the board members Annika Falkengren, Penny Hughes, Urban Jansson, Tuve Johannesson, Hans-Joachim Körber, Christine Novakovic, Jesper Ovesen, Carl Wilhelm Ros, Jacob Wallenberg and Marcus Wallenberg were re-elected. Tomas Nicolin was elected as new member of the Board. The AGM re-elected Marcus Wallenberg as Chairman of the Board.
At the statutory Board Meeting following the AGM, Jacob Wallenberg and Tuve Johannesson were appointed Deputy Chairmen.
Following an initiative taken by SEB's Board of Directors on a 25 per cent reduction of base remuneration, the AGM resolved on Directors' fees of SEK 7,587,500 to be distributed as follows:  SEK 2,062,500 to the Chairman of the Board and SEK 3,525,000 to the other Directors elected by the AGM with SEK 450,000 each to the Deputy Chairmen and SEK 375,000 each to other board members.
For committee work, the AGM resolved a total fee of SEK 2,000,000 split between SEK 510,000 to the Chairman and SEK 325,000 to the other member of the Risk and Capital Committee and SEK 387,500 each to the Chairmen and SEK 195,000 each to other members of the Audit and Compliance Committee and the Remuneration and Human Resources Committee. No fee for committee work is distributed to the Chairman of the Board.
No dividend will be distributed for 2008.
The AGM approved the Board's resolution regarding a capital increase, including the proposal regarding amendments to the Articles of Association. Further information about the capital increase will be distributed separately to shareholders.
The AGM approved the Board's proposal for new principles for remuneration to the President and the other members of the Group Executive Committee. This means that the President and other members of the Group Executive Committee will not receive short-term incentives. The AGM also approved the Board's proposal for new share-based long-term incentive programmes for 2009 in the form of a share savings programme, a performance share programme and a share matching programme.
The AGM also decided on the acquisition and sale of own shares for securities business purposes, on the stock exchange for the long-term incentive programmes and for capital management purposes as well as sale to the participants under the long-term incentive programmes, in accordance with the Board's proposal.
The decisions of the AGM can be read in full at www.sebgroup.com.
SEB is a North European financial group serving some 400,000 corporate customers and institutions and five million private individuals. SEB offers universal banking services in Sweden, Germany and the Baltic countries - Estonia, Latvia and Lithuania. It also has local presence in the other Nordic countries, Poland, Ukraine and Russia and a global presence through its international network in major financial centers. On 31 December 2008, the Group's total assets amounted to SEK 2,511bn (~EUR 230bn) while its assets under management totalled SEK 1,201bn (~EUR 110bn).The Group has about 22,000 employees. Read more about SEB at www.sebgroup.com.
For further information, please contact:
Ulf Grunnesjö, Head of Investor Relations, +46 8 763 85 01, +46 70 763 85 01
Katja Margell, Head of External Communications, +46 8 763 91 63, +46 70 745 91 38
This information has been made public according to the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act and/or the NASDAQ OMX Stockholm rules. This information was published at 08.30 pm CET on 6 March 2009.
This notice does not constitute an offer to sell, or a solicitation of offers to purchase or subscribe for, securities in the United States. The securities referred to herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered, exercised or sold in the United States absent registration or an applicable exemption from registration requirements. This notice is issued pursuant to Rule 135c of the Securities Act of 1933, as amended.