Notice of Annual General Meeting of Shareholders in Klövern AB

Shareholders wishing to participate in the Annual General Meeting of Shareholders must:

 

         be registered as owner in the print-out of the share register made by VPC AB on Friday, 28 March 2008

 

         and notify their attendance to Klövern at the latest by 4 pm on Friday, 28 March 2008 at the address: Klövern AB, Box 1024, SE-611 29 Nyköping, Sweden or by telephone to +46 155-44 33 00.

 

When making notification, shareholders must state their name, date of birth/Swedish personal ID number/company registration number, address, telephone number, shareholding and any assistant they may wish to accompany them to the meeting. Shareholders whose shares are nominee registered, must request that their shares, by the administrator, be temporarily registered in their own name before 28 March to able to participate in the meeting. In order for this to be possible, requests for such registration must have been made to the bank or securities institution administering the shares in good time before this date. In cases where representatives participate in the meeting, a power of attorney in the original should be sent to the company at the time of notification of attendance. If the provider of the power of attorney is a legal entity, a certified registration certificate is also to be presented.

 

 

1.  Opening of the meeting

2.  Appointment of a chairman at the meeting

3.  Preparation and approval of the voting list

4.  Appointment of one or two persons to check the minutes

5.  Consideration of whether the meeting has been duly called

6.  Approval of the agenda

7.  Speech by the President and CEO

8.  Presentation of the annual report and the auditors’ report and the consolidated income statement and the auditors’ report for the group

9.  Decisions on:

a) the adoption of the income statement and balance sheet and the consolidated income statement and consolidated balance sheet

b) appropriations concerning the company’s profit in accordance with the adopted balance sheet

c) discharge from liability for the board members and the CEO

d) the record date in the event of the Annual General Meeting deciding on a dividend

10. Determination of the number of board members

11. Determination of fees for the board and auditors

12. Election of the Board

13. Adoption of principles for remuneration and terms of employment of the executive management

14. Adoption of principles for the composition of a nominations committee

15. Decision on authorisation for the Board to acquire and transfer Klövern’s own shares

16. The Board’s proposal on brokerage-fee trading

17. Other business

18. Closure of the meeting

 

The nominations committee proposes that Stefan Dahlbo be appointed to chair the meeting.

 

The Board recommends that a dividend of SEK 1.50 per share be paid to shareholders. It is proposed that Tuesday, 8 April 2008 be record date, i.e. the date conferring entitlement to dividend. If the Annual General Meeting decides in accordance with the proposal, it is expected that cash dividend will be paid by VPC on Friday, 11 April 2008.

 

The nominations committee, consisting of Göran Almberg, chairman of the nominations committee (LRF), Peter Lindh (AB Skakel), Rickard Svensson (Arvid Svensson Invest), Eva Gottfridsdotter-Nilsson (Länförsäkringar fonder), Erik Törnberg (Investment AB Öresund), Klas Andersson (representing other shareholders) and Stefan Dahlbo (Chairman of the Board of Klövern), propose that the board shall consist of seven members, which is unchanged compared with the present number. It is proposed that Stefan Dahlbo, Gustaf Hermelin, Lars Holmgren, Anna-Greta Lundh, Lars Rosvall and Fredrik Svensson be re-elected. It is proposed that Helene Olausson be elected to the Board. Johan Piehl has declined to be re-elected. The nominations committee proposes that Stefan Dahlbo be elected as chairman.

It is proposed that a fee of SEK 875,000 be paid to the board, of which SEK 250,000 to be paid to the Chairman of the Board and SEK 125,000 each to the other members, which is unchanged compared with the present fee. No fee is to be paid to the President & CEO of Klövern. It is proposed that payment be made to the auditors in accordance with the account submitted.

 

The Board makes the following proposals for principles for remuneration and other terms of employment for the executive management:

 

The fixed salary is to be at a market level and competitive and to take into account the areas of responsibility and experience of the individual. The fixed salary is to be subject to annual review.

 

The variable salary shall be paid to the President and CEO at 1 per cent of the company’s pre-tax profit, to the extent that this amount exceeds the set operational targets for property operations. The maximum bonus that can be paid to the President & CEO is an amount corresponding to six months’ fixed salary per year. The pension premium for the President & CEO shall amount to 35 per cent of the fixed salary and the pension age is 65. The period of notice for the President & CEO is twelve months if notice is given by the company and six months if given by the President & CEO. No severance payment is payable.

 

The maximum bonus for other members of the executive management group is an amount corresponding to six months’ fixed salary per year. The pension premium may amount to at most 35 per cent of the fixed salary and the pension age is 65. The period of notice for other members of the executive management group is twelve months if notice is given by the company and six months if given by the employee. No severance pay is payable.

 

Benefits in addition to salary and pension for all members of the executive management are health insurance, subsidised subsistence, and a share in Klövern’s profit-sharing foundation.

The executive management is entitled to a company car if this is stated in the respective contract of employment. The Board may depart from the principles if there are special reasons for doing so in any particular case.

 

The executive management consists of the President & CEO and other members of the executive management group. The executive management at present consists of Gustaf Hermelin, President & CEO, Britt-Marie Einar, Finance and Information Manager, Thomas Nilsson, IT/Real Estate Manager and vice-President, Mattias Rickardsson, Transaction and Analysis Manager, P.G. Sabel, Unit Manager in Kista, and Caesar Åfors, CFO and vice-President.

 

The nominations committee’s proposed principles for the composition of the nominations committee comply with those adopted at the Annual General Meeting in 2007 and thus apply for the Annual General Meeting in 2008. These principles are available on Klövern’s website, kelly.corem.se.

 

The Board proposes that the Annual General Meeting decide to authorise the Board, at the longest until the next Annual General Meeting, to acquire and transfer Klövern’s own shares. This authorisation is intended to enable the company’s capital requirements to be continuously adapted and thus contribute to increased shareholder value, as well as to be able to transfer shares in connection with financing of any property or company acquisitions, by payment with Klövern’s own shares.

 

Acquisition may take place through purchase at the Stockholm stock exchange, Stockholmsbörsen. Acquisition may take place of at most the number of shares that from time to time corresponds to 10 per cent of the total number of shares issued by the company. Transfer shall be able to take place both on Stockholmsbörsen as well as, deviating from the priority right of shareholders, to a third party in connection with property or company acquisitions. Payment for transferred shares may be made in cash or in kind, by set-off, or otherwise with conditions attached.

 

The Board proposes that the Annual General Meeting decide to invite shareholders to purchase or sell the number of shares required to achieve a holding equivalent to whole trading lots (a trading lot = 500 shares). If the shareholder holds less than 500 shares, the whole holding can be sold free of brokerage. It is proposed that it be left to the Board to decide on the period of the offer and the detailed terms and conditions.

 

The annual report, the auditors’ report and the auditors’ statement, and the Board’s complete proposals in other matters and motivated statements in accordance with the Swedish Companies Act are available at Klövern’s office in Nyköping from Thursday, 20 March 2008. Copies of the documents will be sent to the shareholders who make a request to that effect and provide their postal address.

 

3 pm Entrance to the premises for the meeting opened

4 pm Opening of the Annual General Meeting

 

Light refreshments will be served after the Annual General Meeting.

 

Nyköping, 3 March 2008

 

 

The Board

 

Gustaf Hermelin, CEO, tel +46 155-44 33 10, +46 70-560 00 00, gustaf.hermelin@klovern.se

Caesar Åfors, CFO and vice-President, tel +46 155-44 33 02, +46 70-662 48 48, caesar.afors@klovern.se

Britt-Marie Einar, Finance and Information Manager, tel +46 155-44 33 12, +46 70-224 29 35,

britt-marie.einar@klovern.se

 

Klövern is a real estate company committed to working closely with customers in Swedish growth regions to meet their needs of premises and services. Klövern has geographical units in ten cities/locations: Borås, Karlstad, Kista, Linköping, Norrköping, Nyköping, Täby, Uppsala, Västerås and Örebro. As at 31 December 2007, the value of the properties totals approximately SEK 12.2 billion and the rental income on an annual basis is approximately SEK 1,309 million. The Klövern share is listed on OMX Nordic Exchange in Stockholm for medium-sized companies.

 

Klövern AB (publ), Box 1024, SE-611 29 Nyköping, Sweden Tel +46 155-44 33 00, Fax +46 155-44 33 22.

Reg. no 556482-5833 * Registered office: Nyköping * Website: kelly.corem.se