NOTICE TO CONVENE the Annual General Meeting of FLSmidth & Co. A/S

Nachrichtenquelle: globenewswire
02.06.2020, 14:46  |  116   |   |   

 

Company Announcement No. 10-2020

 

The Board of Directors hereby convenes the Annual General Meeting to be held on Friday 26 June 2020 at 4 pm (CET) at the offices of the company, Vigerslev Allé 77, DK-2500 Valby.

To protect everyone’s safety and reduce the risk of COVID-19 spreading, we recommend that shareholders refrain from attending the general meeting in person and instead cast their votes by postal vote or proxy and attend the live webcast of the general meeting via the web site.

The number of representatives from the management will be reduced to reduce the risk of infection.

Agenda:

  1. The Board of Directors' report on the company’s activities in 2019.
  2. Presentation and approval of the 2019 Annual Report.
  3. Approval of the Board of Directors’ fees:

a. Final approval of fees for 2019.

The Board of Directors proposes unchanged approval of the fees for 2019 that were pre-approved by the general meeting in 2019.

The fees are based on a base fee of DKK 450,000 (the “Base Fee”) with twice that amount to the vice chairman and three times that amount to the chairman. An additional fee of DKK 125,000 is paid for membership on a board committee, whereby, however, such additional fee for committee chairmen constitutes DKK 225,000. The chairman and the vice chairman do not receive committee fees.

The total remuneration to the members of the Board of Directors for 2019 amounts to DKK 6.4 m, cf. note 6.1 in the Annual Report (page 115).

In addition to the above-stated remuneration, the company pays out-of-pocket expenses, including travel and transport costs, associated with the services rendered for the Board of Directors, and the company may also pay foreign social charges and similar charges, charged by foreign authorities in relation to the fees.

b. Preliminary determination of fees for 2020

The Board of Directors proposes that fees of the Board of Directors remain unchanged in 2020. The fees for 2020 will be presented at the Annual General Meeting in 2021 for final approval.

  1. Distribution of profits or covering of losses in accordance with the approved Annual Report

As announced in company announcement of 23 March 2020 the Board of Directors is not proposing a dividend for 2019. Please also refer to the Annual Report 2019 and the Supplement to Annual Report 2019 illustrating the change to the proposed profit allocation. Please find both on flsmidth.com.

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