Cybercom Group: Bulletin from Cybercom’s 2014 AGM

Regulatory News:

Cybercom Group AB (publ) (STO:CYBE) held its AGM on Wednesday, May 7, 2014. The AGM appointed Ulrika Dellby and Katarina Kämpe as new board members.

The AGM resolved to follow the proposals prepared by the board and nomination committee. All decisions were unanimous. The minutes taken at the AGM will be published on Cybercom's website, www.cybercom.com. These items summarise the AGM resolutions.

Dividend

The AGM resolved that no dividend shall be paid for financial year 2013. 

Discharge from liability

The board of directors and CEO were discharged from liability for financial year 2013. 

Board election and remuneration 

Ulrika Dellby and Katarina Kämpe were newly elected, and Hampus Ericsson, Jan-Erik Karlsson, Nicolas Hassbjer and Dag Sundman were re-elected. Thomas Landborg had declined re-election. Hampus Ericsson was elected as board chairman. Board remuneration was fixed at a total of SEK 1,200,000, wherein remuneration to the chairman of the board and to each of the other board members elected by the AGM of SEK 200,000. It was also resolved that remuneration for audit committee work shall amount to SEK 75,000 for the chairman of the committee and SEK 50,000 for committee members. 

Election of auditor 

KPMG AB was elected auditor for the period until the end of the 2015 AGM.

Guidelines for remuneration of senior executives

In brief, the AGM resolved that the company shall offer a market-based total compensation package that enables the recruitment and retention of senior executives. Remuneration to senior executives consists of a fixed salary, variable pay, pension provisions and other benefits. The variable pay is based on achieved predetermined operational objectives, the wide majority of which correspond to financial targets. The variable remuneration is paid in the form of variable pay to each senior executive at an amount corresponding to a maximum of 50 percent of basic salary.

The board also has the right to design variable pay systems so that the total variable remuneration to the CEO is an amount equal to a maximum of 100 percent of basic salary, provided that such variable pay is linked to well defined commitments to purchase shares in Cybercom for a substantial part of the compensation.

The objectives for variable pay are revised annually. The pension provisions shall form a part, and where the balance between pension and basic salary is agreed upon in each individual case.

Note

Cybercom is required to make this information public in compliance with the Swedish Securities Market Act. The information was submitted for publication on May 7 at 7.00 pm.

About Cybercom

Cybercom is an IT consulting company that assists leading companies and organisations to benefit from the opportunities of the connected world. The company’s areas of expertise span the entire ecosystem of communications services. Cybercom’s domestic market is the Nordic region, and in addition the company offers global delivery capacity for local and international business. Cybercom was founded in 1995 and has been quoted on the NASDAQ OMX Stockholm exchange since 1999. Read more at www.cybercom.com

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