Bergs Timber AB (publ) Annual General Meeting 2022

PRESS RELEASE

2022-05-05

 

Bergs Timber’s annual general meeting was held on 5 May 2022 in Vimmerby.

 

CEO summary of 2021

CEO Peter Nilsson presented a summary of the financial year 2021. The presentation will be published on the company website.

 

Adoption of income statements and balance sheets

The annual general meeting resolved to adopt the income statements and balance sheets for the parent company and the group for the financial year 2021.

 

Appropriation of profits

The annual general meeting resolved, in accordance with the proposal from the Board of Directors, that a dividend of SEK 0,30 per share will be paid for the 2021 financial year. The record date for the dividend was set to 9 May 2022 and payment is expected to be distributed on 12 May 2022.

 

Discharge from financial liability

The annual general meeting discharged the Board of Directors and the CEO from financial liability for the financial year.

 

Election of board members and auditors

The annual general meeting re-elected Åke Bergh, Michael Bertorp, Ingrida Bluma, Jon Helgi Gudmundsson and Gudmundur H Jonsson as board members and elected Anna Rasmuson as new Board member.  Lars Gustafsson had declined re-election. Michael Bertorp was re-appointed Chairman of the Board. Deloitte AB was appointed as auditor in charge and they have notified the company that Magnus Andersson will be the principal auditor.

 

Fees

The annual general meeting confirmed the board fees for 2021 according to the nomination committee proposal. The fee levels are therefore SEK 550,000 to the Chairman of the Board and SEK 225,000 to other members of the Board. Fee to the Chairman of the Audit Committee is 0,5 price base amounts. Further it was confirmed that a fixed fee of 2,500 SEK per meeting should be paid to the members of the audit and remuneration committees. Audit remuneration shall be paid based on approved invoices.

 

 

Aggregation of shares

The annual general meeting resolved to aggregate the company’s shares (so called reverse split) 1:10. This means that ten existing shares are aggregated into one new share. For those shareholders who on the record date for the aggregation do not hold a number of ordinary shares corresponding to a whole number

of new ordinary shares, excess ordinary shares will be transferred to the company’s ownership on the record date for the aggregation. Excess ordinary shares will then be sold by a securities institution appointed by the company, whereby eligible shareholders will receive their share of the sale proceeds. I

 

Information about the record date and the detailed procedure for the aggregation will be published by the company shortly.

 

Resolution on changes of Articles of Association

The annual general meeting resolved to change the Articles of Association regarding number of shares in order to enable the proposed aggregation. Further it was resolved that the Board of Directors shall have its registered office in Stockholm Municipality. Finally, it was resolved that the location for the Annual General Meeting shall be held in Stockholm Municipality, Hultsfred Municipality, Vimmerby Municipality or Växjö Municipality.

 

Authorisation for the board to issue new shares

In order to facilitate further acquisitions, if any, the annual general meeting resolved to authorise the Board of Directors to, during the time to the next annual general meeting, at one or more occasions, issue new shares of a maximum of 10 % of the shares outstanding at the time for the issue.

 

Guidelines for remuneration to senior executives

The annual general meeting resolved to approve the guidelines for remuneration to senior executives according to the proposal from the Board of Directors. The annual general meeting also resolved to approve the Board of Directors remuneration report for 2021.

 

Complete set of proposals and resolutions

The annual general meeting approved all proposals that the Board of Directors and the nomination committee put forward to the meeting. The proposals are available in earlier published notice of annual general meeting and the resolutions will be available in the minutes from the annual general meeting which will be published at the company website.

 

 

Vimmerby 2022-05-05

 

Bergs Timber AB (publ)

 

The Board of Directors

 

 

 

 

Contact information

Further information concerning this press release will be provided by the President and CEO, Peter Nilsson, on telephone number +46 70 315 09 27 or Anders Marklund, CFO, 070-284 47 96.

 

 

 

About Bergs

 

An international wood products Group

The Bergs Group consists of independent subsidiaries, with clear responsibilities for results, that develop, produce and market processed wood for various applications.

 

With years of experience in wood and a great deal of competence in processing, Bergs promotes building a sustainable society based on renewable raw materials from sustainably cultivated forests in the Baltic Sea region.

 

Operations are conducted in Sweden, Estonia, Latvia and the UK, and the Group’s products are sold in some 20 countries. The largest markets consist of Scandinavia, the Baltic countries, the UK and France. The head office and Group management are located in Sweden.

 

The company’s share has been listed on Nasdaq Stockholm since 1984.