Resolutions at GARO Aktiebolag’s Annual General Meeting 2023

The Annual General Meeting approved the presented income statements and balance sheets and remuneration report and approved discharge from liability for board members and the managing director. In addition, the following decisions were made.

Election of Board of Directors
As board members Rickard Blomqvist (Chairman), Martin Althén, Susanna Hilleskog, Mari-Katharina Jonsson Kadowaki, Johan Paulsson and Lars-Åke Rydh were re-elected and Lars Kongstad was elected as new board member.

Fees to the Board of Directors
It was resolved that Board fees shall be paid by SEK 725,000 (previously SEK 700,000) to the Chairman of the Board and SEK 300,000 (previously SEK 290,000) to each of the other Board members elected by the Annual General Meeting who are not employed by the group. It was further resolved that fees for assignment in the Audit Committee shall be unchanged and paid by SEK 100,000 to the Chairman and SEK 50,000 to each of the other members of the Audit Committee. Fees for assignment in the Renumeration Committee shall be unchanged and paid by SEK 50,000 to the Chairman and SEK 25,000 to each of the other members of the Renumeration Committee.

Election of auditor
Ernst & Young AB was re-elected as the company’s auditor for a period of mandate of one year. Ernst & Young AB has informed the company that authorized public accountant Joakim Falck will continue as auditor-in-charge. It was resolved that auditor fees shall be paid in accordance with approved invoice.

Dividend
In accordance with the proposal of the Board of Directors, the Annual General Meeting resolved that a dividend of SEK 0.80 per share shall be distributed for the financial year 2022 divided into two equal payments of SEK 0.40 per share and the company’s remaining funds available for distribution shall be carried forward. The record dates for the dividend distribution was set to 15 May 2023 and 15 November 2023, respectively. Payments are expected to be distributed by Euroclear Sweden AB starting 19 May 2023 and 20 November 2023, respectively.

For more information, please contact:
Helena Claesson, CFO +46 (0)70 676 07 50

GARO AB (publ) Corp. Reg. No. 556071–7772 is a company that develops, manufactures and markets innovative products and systems for the electrical installations market under its own brand. GARO’s customer offering is to provide complete solutions in the product areas of Electrical distribution products, E-mobility, Project business & Temporary Power with a focus on electrical safety, user-friendliness and sustainability. GARO was founded in 1939, has its head office in Gnosjö and is today an international company with operations in six countries with around 550 employees. The company’s production units in Sweden are located in Gnosjö and Hillerstorp, as well as in Szczecin, Poland. GARO is listed on Nasdaq Stockholm under the ticker name GARO. For more information, see www.garo.se