The annual general meeting of Scandic Hotels took place on May 16, 2024, with both in-person and advance postal voting options available to shareholders. The meeting’s agenda included the approval of the annual and consolidated reports for 2023, along with the board’s proposal to forgo dividend payments in favor of carrying forward available funds. The board members and CEO were released from liability.
Elections for the board of directors resulted in the re-election of Per G. Braathen, Gunilla Rudebjer, Kristina Patek, and Fredrik Wirdenius, while Michael Levie and Frank Veenstra were newly appointed as board members. Per G. Braathen remained as chair of the board, and Öhrlings PricewaterhouseCoopers AB was chosen as auditor.
Attendees approved the proposed guidelines for remuneration of senior executives, as well as the remuneration report presented by the board of directors. Additionally, a long-term incentive program was adopted, involving up to 80 participants and offering share units that grant rights to common shares in Scandic subject to specific conditions.
The meeting authorized the board to issue new shares, warrants, or convertibles, with or without preferential rights for shareholders, and to increase the share capital by up to 10%. Repurchase and transfer of own shares were also authorized, aiming to optimize capital structure, enhance shareholder value, and facilitate the long-term incentive program. Finally, the transfer of up to 725,000 own shares to participants in the 2024 long-term incentive program was approved.
