Board composition and share buy-back
SWECO AB’s nomination committee proposes that the Annual General Meeting on 20 April 2004 re-elect Maria Borelius, Eric Douglas, Birgit Erngren, Anders Frick, Olle Nordström, Wigon Thuresson and Mats Wäppling. The proposal means that the Board of Directors will consist of seven members and that no deputies are to be appointed.
The nomination committee also proposes re-election of the accounting firm of PricewaterhouseCoopers KB with Authorised Public Accountant Michael Bengtsson and head accountant to serve until the end of the Annual General Meeting in 2008. The nomination committee, consisting of Gustaf Douglas – Investment AB Latour, Lars Kritz – J. Gust. Richert Memorial Foundation and Olle Nordström – Skirner Förvaltning AB, represent more than 65 per cent of the voting rights and over 50 per cent of the company’s share capital.
SWECO AB’s Board of Directors has decided to propose that the Annual General Meeting on 20 April 2004 authorise the Board to buy back a maximum five per cent of all shares in the company during the period before the next Annual General Meeting. The shares are to be purchased on the Stockholm Stock Exchange at a price per share that is within the registered price interval at any given time. The aim of the buy-back is to optimise the company’s capital structure and to create opportunities to use SWECO shares in connection with future acquisitions. SWECO AB’s current holding of own shares amounts to 76,500.
Furthermore, the Board has decided to propose that the Annual General Meeting authorise the Board to resolve on the transfer of SWECO shares during the period before the next Annual General Meeting. Such transfers, without preferential rights for the shareholders, may take place in connection with acquisitions in an amount corresponding to the appraised market value. The goal is to finance future acquisitions in a cost-effective manner.