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SinterCast Annual General Meeting 2021

[Stockholm, 18 May 2021] – SinterCast Aktiebolag’s Annual General Meeting (AGM) was conducted on 18 May 2021. In consideration of COVID-19 and the restrictions introduced to prevent the spread of the virus, the AGM was conducted by postal voting without physical attendance. In advance of the meeting, a pre-recorded CEO presentation was posted on the SinterCast website on 13 May 2021.

Adoption of the profit and loss statements and balance sheets and decision on dividend
The AGM adopted the profit and lost statements and the balance sheets included in the 2020 annual report and decided on a dividend of SEK 4.00 per share (totally SEK 28,360,532) for the financial year 2020, of which SEK 4.00 per share is ordinary dividend and SEK 0.00 per share is extraordinary dividend. The dividend is divided into two equal payments of SEK 2.00 per share with the record date 20 May 2021 for the first payment and the record date 19 November 2021 for the second payment.

Board of Directors and Auditor
The AGM granted the Board Members and the Managing Director discharge from liability for the financial year 2020.

The AGM re-elected Jun Arimoto, Robert Dover, Jan Åke Jonsson, Steve Dawson, Åsa Källenius and Steve Gill as Board Members for the period until the end of the next AGM. Jan Åke Jonsson was re-elected as Chairman of the Board. Further, the AGM re-elected the registered auditing company KPMG AB, with Jonas Eriksson as principal auditor, as auditor for the period until the end of the next AGM.

Remuneration to the Board Members and the Auditor
The AGM determined that remuneration of the Board Members, for the period until the next AGM, shall be SEK 410,000 for the Chairman and SEK 190,000 each for the other ordinary Board Members, with no remuneration for the Managing Director. Furthermore, the AGM decided that the auditor shall be paid against approved invoice.

The Nomination Committee
The AGM re-elected Jan Åke Jonsson, Andrea Fessler, Aage Figenschou, Carina Andersson and Victoria Skoglund as Members of the Nomination Committee for the period until the end of the next AGM. Victoria Skoglund was re-elected Chairman of the Nomination Committee. Furthermore, the AGM adopted instructions for the Nomination Committee.

Approval of the remuneration report 2020
The AGM decided to approve the Board of Director’s remuneration report for 2020.

Authorisation of the Board of Directors to decide upon acquisition and disposal of SinterCast shares
The AGM authorised the Board of Directors to, on one or more occasions prior to the next Annual General Meeting:

  • decide upon the acquisition of SinterCast shares. SinterCast may only acquire such number of shares so that the company’s shareholding at any given time does not exceed 10 percent of the total shares in the company. Acquisition of shares may be made on Nasdaq Stockholm at a price within the registered price interval on each occasion,
  • decide upon disposal of a maximum of all SinterCast shares held by the company at any given time, on Nasdaq Stockholm or in other ways, for example in connection with the acquisition of a company or business, with or without a deviation from the shareholders’ preferential rights and with or without payment in kind or payment by set-off. Disposal of shares on Nasdaq Stockholm may only be made at a price within the registered price interval on each occasion. Disposal of shares in other ways may be made at a market price estimated by the Board of Directors.

The purpose of the authorisation is for SinterCast to be able to acquire its own shares at any given time so as to adapt the capital structure of the company and to be able to transfer shares in connection with a potential acquisition of a company or business.

Amendments of the articles of association
The AGM decided on amendments of the articles of association, including amendments due to changes of the Swedish Companies Act. Further, a new paragraph was added which gives the Board of Directors the opportunity to decide that the shareholders shall be able to exercise their voting rights by post in accordance with Chapter 7 Section 4 a of the Swedish Companies Act.

For and on behalf of the Board of Directors:
Dr. Steve Dawson
President & CEO
SinterCast AB (publ)
Mobile: +44 771 002 6342
e-mail: steve.dawson@sintercast.com

SinterCast is the world’s leading supplier of process control technology for the reliable high volume production of Compacted Graphite Iron (CGI). With at least 75% higher tensile strength, 45% higher stiffness and approximately double the fatigue strength of conventional grey cast iron and aluminium, CGI allows engine designers to improve performance, fuel economy and durability while reducing engine size, weight, noise and emissions. The SinterCast technology is used for the production of petrol and diesel engine cylinder blocks and exhaust components for passenger vehicles, medium-duty and heavy-duty cylinder blocks and heads for commercial vehicles, and industrial power engine components for agriculture, marine, rail, off-road and stationary engine applications. SinterCast supports the series production of components ranging from 2.7 kg to 9 tonnes, all using the same proven process control technology. As a specialist supplier of precision measurement and process control solutions to the metals industry, SinterCast also supplies the SinterCast Ladle Tracker® and SinterCast Cast Tracker® technologies, to improve process control, productivity and traceability in a variety of applications. With 56 installations in 14 countries, SinterCast is a publicly traded company, quoted on the Small Cap segment of the Nasdaq Stockholm stock exchange (SINT). For more information: www.sintercast.com

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Source: MFN
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