The right of shareholders to make decisions about the company's matters is exercised at general meetings. The annual general meeting (AGM) is held within six months of the close of the fiscal year, normally in late March or early April. The next LBi annual general meeting will be held in Stockholm spring 2008. When necessary, extraordinary meetings (EGM) are held between AGMs.
AGMs pass resolutions concerning the adoption of income statements and balance sheets, allocation of the company's profit or loss, discharge of the members of the Board and CEO from liability for the fiscal year, etc. Other decisions which can only be made at general meetings include the Board composition, increases and decreases in share capital, issues of new shares and issues of warrants. With regard to share issues, AGMs commonly approve a year-long authorisation for the Board to make decisions within certain limits.
A notice convening a general meeting of LBI International is published in the Svenska Dagbladet daily newspaper and Post- och Inrikes Tidningar (Official Swedish Gazette). The notice is also sent out electronically as a press release. The notice advises on how those who wish to participate and vote should proceed. Each share entitles the holder to one vote.
A general meeting ordinarily passes resolutions based on a simple majority but certain matters require a greater majority.
LBI International's guidance is that as many Board members as possible attend general meetings. At least one of the company's auditors attends each meeting.
A shareholder who has a matter that he or she wants a general meeting to address must make a written request to the Board. Any request will be honoured as long as it arrives in time to be included in the notice convening the meeting. Shareholders also have the opportunity to ask questions about the company at a general meeting.
The nominating committee is composed of Frank Bergman (Red Valley (Luxembourg) S.à r.l.), Gunnar Ek of the Swedish Shareholders’ Association and LBi's chairman of the Board, Fred Mulder.
Anyone wishing to contact the Board or the nominating committee may e-mail to management assistant Anita Hallgren at anita.hallgren@lbi.com. The e-mail should specify whether it is intended for an individual Board member, the chairman, the entire Board or the nominating committee.
Minutes
This section contains the minutes of the General Meeting from May 2007.
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