Sandvik’s Annual General Meeting 2022

SANDVIKEN, Sweden, April 27, 2022 /PRNewswire/ —

Sandvik AB’s Yearly Standard Meeting was held on April 27, 2022 in Sandviken, Sweden.

Sandvik’s President and CEO Stefan Widing protected the operations and effects for 2021 in his speech.

“We produce on our shift to progress approach, the previous 12 months we experienced equally a powerful natural development and a higher acquisition exercise which has further more strengthened our positions. With our decentralized established-up, solid management tradition and our market management, we will remain agile and adapt to distinctive market place situations. Our aim is a ongoing successful overall performance”, said Stefan Widing.

“The Board appreciates the experienced and committed get the job done from all of the Sandvik staff members. There are remarkable competences throughout the organization which is the foundation for the achievement. I am really beneficial for the upcoming development of Sandvik”, stated Chairman of the Board Johan Molin.

Adoption of the income and loss accounts and balance sheets

The Basic Assembly adopted the financial gain and decline account and stability sheet for the mum or dad corporation as perfectly as the consolidated revenue and reduction account and consolidated harmony sheet for 2021. The Board users and the President ended up discharged from liability for the economical 12 months 2021.

Cash dividend

The Typical Meeting settled pursuant to the Board’s proposal on a income dividend of SEK 4.75 for every share. The file day for payment of the dividend was established at Friday, April 29, 2022. The dividend is anticipated to be paid by Euroclear Sweden AB on Wednesday, Could 4, 2022.

Distribution of all shares in Alleima Keeping AB

The Typical Meeting resolved pursuant to the Board’s proposal that all shares in the wholly-owned subsidiary Alleima Holding AB (earlier Sandvik Elements Know-how Keeping AB) be dispersed to the shareholders, whereby 5 (5) shares in Sandvik AB entitle to one particular (1) share in Alleima Keeping AB. The Standard Assembly also approved the Board to figure out the report day for the suitable to receive shares in Alleima Keeping AB. The document date is anticipated to get area on August 29, 2022, and the distribution of and first day of buying and selling in the Alleima share on Nasdaq Stockholm is envisioned to arise on August 31, 2022.

Board of Directors

The Basic Meeting resolved pursuant to the Nomination Committee’s proposal to re-elect Board customers Jennifer Allerton, Claes Boustedt, Marika Fredriksson, Johan Molin, Andreas Nordbrandt, Helena Stjernholm, Stefan Widing and Kai Wärn. Johan Molin was re-elected Chairman of the Board.

The worker unions have appointed Thomas Andersson and Thomas Lilja as associates of the Board and Fredrik Håf and Erik Knebel as deputy users.

Resigning personnel consultant Tomas Kärnström was thanked for his products and services.

Service fees to the Board

The Normal Meeting settled pursuant to the Nomination Committee’s proposal on charges to the Board, distributed as follows: SEK 2,750,000 to the Chairman of the Board, SEK 740,000 to each and every other Board member not used by the Enterprise, SEK 325,000 to the Chairman of the Audit Committee, SEK 185,000 to every single other member of the Audit Committee, SEK 155,000 to the Chairman of the Remuneration Committee, SEK 122,000 to each individual other member of the Remuneration Committee, SEK 210,000 to the Chairman of the Acquisitions and Divestitures Committee and SEK 155,000 to every other member of the Acquisitions and Divestitures Committee.

Auditor

The Common Meeting fixed pursuant to the Nomination Committee’s proposal to re-elect PricewaterhouseCoopers AB as auditor for the period until the end of the 2023 Once-a-year Basic Assembly.

Remuneration report

The Typical Assembly solved to approve the Board of Directors’ remuneration report for 2021.

Prolonged-expression incentive system (LTI 2022)

The General Assembly permitted the Board’s proposal on a long-phrase incentive application in the sort of a general performance share system for about 350 senior executives and vital staff in the Team (LTI 2022).

Participation involves that an financial commitment in Sandvik shares be manufactured. Each individual acquired Sandvik share entitles the participant to be allotted, following a interval of three years, a selected quantity of Sandvik shares free of charge of demand, supplied that specific effectiveness targets with respect to earnings for each share are fulfilled. The plan is based on considerably the very same conditions and ailments as the 2014–2021 incentive programs.

LTI 2022 contains up to 1.9 million shares. The shipping and delivery of these shares will be secured by way of a share swap settlement with a 3rd get together. The overall expense of LTI 2022 is approximated at up to SEK 333 million based on a Sandvik share price tag of SEK 160, and at up to SEK 346 million primarily based on a share selling price of SEK 235.  

Authorization on acquisition of the Company’s possess shares

The Normal Conference permitted the Board’s proposal to authorize the Board to, for the period of time until the 2023 Yearly Normal Meeting, resolve on acquisitions of the Firm’s possess shares, nonetheless no much more than 10 for each cent of the total variety of shares in the Corporation. 

Amendments to the Posts of Association

The Basic Assembly authorised the Board’s proposal to amend the Articles or blog posts of Affiliation, by growing the highest selection of Board customers that may well be elected by the Basic Conference from 8 to 10 and eradicating the chance for the Common Meeting to elect deputies.

Stockholm, April 27, 2022

Sandvik AB

For further information and facts, make contact with Louise Tjeder, VP Trader relations, cell phone: +46 () 70782 6374 or Johannes Hellström, Push and Media Relations Manager, telephone: +46 () 70721 1008.

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