Skanska’s Class A shares entitle the holders to 10 votes per share and Class B shares entitle the holders to one vote per share. There are no other restrictions in the Articles of Association on the number of votes each shareholder may cast at a General Meeting. Class A shares and Class B shares entitle the holder to the same dividend.
At the Annual General Meeting (AGM) the shareholders decide on key issues, such as:
- Adoption of income statements and balance sheets
- Dividend to the shareholders
- The composition of the Board of Directors
- Discharging the members of the Board and the President and CEO from liability
- Amendments to the Articles of Association (to the extent deemed necessary)
- Board fees and auditor fees
- Election of external auditors
- Guidelines for salary and other remuneration to senior executives are adopted by the AGM at least every four years, while the Board’s remuneration report is submitted to the AGM yearly for approval
The date and venue for the AGM is communicated on Skanska’s website no later than in conjunction with the publishing of the third quarter interim report.
The notice convening the AGM is published in Post- och Inrikes Tidningar (the Official Swedish Gazette) and on Skanska’s website. An announcement of the notice convening the meeting is published in Dagens Nyheter and in at least one more Swedish daily newspaper. All documents relating to the AGM are published on Skanska’s website in both Swedish and English.
Participation in the Annual General Meeting
Shareholders listed in the register of shareholders on the record date and who notify the company of their intention to participate in the meeting are entitled to attend it either personally or by proxy through a representative. According to the Articles of Association, the Board may decide that shareholders shall be entitled to exercise their voting rights by post before the AGM.
Shareholders have the right to have matters addressed at the AGM if they have submitted a request to the Board no later than seven weeks before the AGM. Information on how shareholders can submit proposals to the Board is made available on Skanska’s website well before the notice convening the AGM is issued.