Annual General Meeting
The Annual General Meeting (AGM) is the bank’s highest decision-making body, where the shareholders exercise their rights.
The 2010 AGM was held on Friday 26 March in Stockholm. In total, 726 shareholders attended personally or by proxy. They represented nearly 53 per cent of the votes in the bank.
The AGM is normally held before the end of April, or under special circumstances not later than 30 June. The AGM is normally held in Stockholm. The time and location are published in Swedbank’s year-end report and on its website. The notice of the AGM is usually published five weeks in advance in the Swedish dailies Dagens Nyheter and Svenska Dagbladet, as well as Post och Inrikes Tidningar (Official Swedish Gazette) and at least one other newspaper, usually Dagens Industri. The notice is also made available on the bank’s website. The latest AGMs have also been announced in Göteborgs-Posten and Sydsvenska Dagbladet.
Swedbank is a VPC company, which means that its share register is maintained by Euroclear Sweden AB. All shareholders who are directly recorded in the register five working days prior to the meeting and who have notified Swedbank in time of their intention to participate are entitled to attend the meeting. Shareholders may attend the meeting in person or by proxy and may be accompanied. Shareholders are able to register for the meeting in several different ways: by telephone, email or letter. Swedbank has two classes of shares, common shares and preference shares, which carry equal voting rights.
Shareholders wishing to have an issue discussed at the AGM must submit a written request to that effect to the Board. Any such requests must reach the Board no later than seven weeks prior to the AGM.
The AGM is held in Swedish and interpreted to English. The material released prior to and in connection with the meeting is in Swedish, but is translated to English, including the minutes. The documents are posted on the website.
Among the resolutions passed by the 2010 AGM are the following:
- Adoption of the annual report
- That no dividend be paid to the shareholders for the financial year 2009
- Election of the Board members and the Chair
- Election of Auditor
- Remuneration for the Board members and Auditor
- Share repurchases for securities operations
- Remuneration guidelines for senior executives
- Principles for appointment of the Nomination Committee
The 2010 AGM was attended by all the Board members and all members of the Group Executive Committee as well as the Chief Auditor.