In order to counteract the spread of the virus that causes Covid-19, the Board of Directors of the Bank has decided that the Annual General Meeting should be conducted without the physical presence of shareholders, representatives or third parties and that the shareholders before the meeting should be able to exercise their voting rights by post. Shareholders will have an opportunity to ask questions to the board and management in advance.
SEB has a strong liquidity position and a solid capital buffer and is now fully using that strength to support its customers and thereby society at large in these challenging times. As previously communicated, SEB’s Board of Directors has evaluated the dividend proposal for 2019. The board recognises the importance of the dividend to many of the bank's shareholders. However, in light of the current situation, an uncertain outlook and the Covid-19 pandemic’s impact on the economy, the board has decided to propose to the annual general meeting that no dividend payment shall be made at this point in time. Depending on how the situation develops, the board may assess a dividend payment later this year and if deemed appropriate, convene an Extraordinary General Meeting and present a proposal for dividend.
The Nomination Committee proposes re-election of Signhild Arnegård Hansen, Anne-Catherine Berner, Samir Brikho, Winnie Fok, Sven Nyman, Lars Ottersgård, Jesper Ovesen, Helena Saxon, Johan Torgeby and Marcus Wallenberg. Johan H Andresen has informed that he is not available for re-election. The compensation to the Directors of the Board is proposed to be unchanged.
The notice and the Nomination Committee’s and the Board of Directors’ complete proposed resolutions are available on www.sebgroup.com and at the Bank's Head Office, Kungsträdgårdsgatan 8 in Stockholm.
The notice will be published in Post- och Inrikes Tidningar on 29 May 2020. An announcement of the notice will be published in the Swedish newspapers Dagens Nyheter, Svenska Dagbladet and Dagens Industri on 29 May 2020.
Enclosure: Notice to the Annual General Meeting in Skandinaviska Enskilda Banken AB 2020
For further information, please contact
Christoffer Geijer, Head of Investor Relations
+46(0)8 763 8319
Frank Hojem, Head of Corporate Communication
+46(0)8 763 9947
This is information that Skandinaviska Enskilda Banken AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 6.30 pm CET, on 28 May 2020.
SEB is a leading Nordic financial services group with a strong belief that entrepreneurial minds and innovative companies are key in creating a better world. SEB takes a long term perspective and supports its customers in good times and bad. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and the United Kingdom, the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in its presence in some 20 countries worldwide. On March 31, 2020, the Group's total assets amounted to SEK 3,286 billion while its assets under management totalled SEK 1,758 billion. The Group has around 15,000 employees. Read more about SEB at https://www.sebgroup.com.