The Annual General Meeting of IBS shareholders held on May 9 discharged the Members of the Board and the President from personal liability for the 2006 fiscal year. Members of the Board Lars Nyberg and Johan Björklund were re-elected. The Meeting also resolved to newly elect Vinit Bodas, Jan Jacobsen, Gunnel Duveblad and Dr. Pallab Chatterjee as Members of the Board. Lars Nyberg was re-elected Chairman of the Board.
The Board of Directors has a remuneration committee and an audit committee, each represented by three Board Members. At the statutory Board meeting held directly after the Annual General Meeting, Dr. Pallab Chatterjee, Jan Jacobsen and Johan Björklund were elected members of the Audit Committee. Gunnel Duveblad, Vinit Bodas and Lars Nyberg were elected members of the Remuneration Committee. It is also noted that KPMG Bohlins AB, with Anders Malmeby as auditor-in-charge, was appointed IBS’ audit company at the 2004 Annual General Meeting for the period extending until the close of the 2008 Annual General Meeting.
The Meeting adopted the Nomination Committee’s motion concerning the following director fees: SEK 600,000 for the Chairman of the Board, SEK 200,000 for each Board member who is dependent in relation to the company and SEK 250,000 for each Board member who is independent in relation to the company. Dr. Pallab Chatterjee is to be paid an additional SEK 150,000 as travel-time compensation, since he is based in Dallas, Texas, USA. Finally, supplementary fees amounting to at most SEK 300,000 will be distributed to the Members of the Board appointed to committees according to the Board’s decisions. Accordingly, total director fees will amount to not more than SEK 2,200,000.
It was resolved, as before, that auditor’ fees are paid in return for separate invoices.
The Meeting resolved that the Board of Directors be authorized on one or more occasions during the period until the next Annual General Meeting to decide on the acquisition of the company’s own shares. This authorization is subject to the restriction that the company’s holding of treasury shares may not at any given time exceed 10 percent of all shares in the company. The Meeting also granted authorization to the Board of Directors on one or more occasions during the period until the next Annual General Meeting to divest treasury shares in a manner other than via the Stockholm Stock Exchange, as payment for or financing of company acquisitions, including the right for the Board of Directors to disapply preferential shareholder rights.
Other resolutions passed by the Meeting related to the Board of Directors’ motion regarding guidelines for remuneration of senior executives and a motion concerning procedures for the appointment of a new Nomination Committee.
For further information, please contact:
John Womack, Senior Vice President Communications & IR, IBS AB
Tel: +46 (0)8 627 24 99 Mobile: +46 (0)70 678 24 99