STOCKHOLM, Feb. 14,
2025 /PRNewswire/ -- The shareholders of
AB Electrolux (publ), reg. no. 556009-4178 (the "Company"),
are hereby given notice of the Annual General Meeting to be held on
Wednesday, March 26, 2025, at
4.00 p.m. (CET) at Bio Skandia,
Drottninggatan 82 in Stockholm,
Sweden. Admission and registration will commence at
3.00 p.m. (CET).
The Board of Directors has decided that the shareholders shall
have the possibility to exercise their voting rights by postal
voting before the Annual General Meeting, as instructed below.
The Annual General Meeting will be webcasted live via Electrolux
Group's website, www.electroluxgroup.com/agm2025.
The Annual General Meeting will be conducted in Swedish and
simultaneously translated into English.
Registration and notification
Participation at the meeting venue
Shareholders who wish to participate at the meeting venue, in
person or by proxy, must
- be listed as a shareholder in the presentation of the share
register prepared by Euroclear Sweden AB concerning the
circumstances on Tuesday, March 18,
2025; and
- give notice of its participation no later than Thursday, March 20, 2025
- by telephone +46 8 402 92 79 on weekdays between 9 a.m. and 4 p.m. (CET),
- by post to AB Electrolux, c/o Euroclear Sweden AB, Box
191, SE-101 23 Stockholm, Sweden,
or
- via Euroclear Sweden AB's website,
https://anmalan.vpc.se/EuroclearProxy/.
The notification shall include the shareholder's name, personal
or corporate identification number, address and telephone number,
and any assistants (two at most).
If a shareholder is represented by proxy, a written and dated
proxy signed by the shareholder shall be issued for the
representative. A representative for a shareholder that is a legal
entity shall provide a registration certificate or other supporting
document that shows the authorized signatory of the shareholder. In
order to facilitate registration at the Annual General Meeting, the
proxy and/or registration certificate or other supporting documents
should be sent to the Company to the address above well in advance
of the Annual General Meeting.
Proxy forms are available on Electrolux Group's website,
www.electroluxgroup.com/agm2025 and are also provided by the
Company upon request.
Postal voting
Shareholders who wish to participate in the Annual General
Meeting by postal voting must
- be listed as a shareholder in the presentation of the share
register prepared by Euroclear Sweden AB concerning the
circumstances on Tuesday, March 18,
2025; and
- give notice of its participation by casting its postal vote in
accordance with the instructions below so that the postal vote is
received by Euroclear Sweden AB on behalf of the Company no
later than on Thursday, March 20,
2025.
Shareholders who wish to attend the meeting venue in person or
by proxy, must give notice in accordance with the instructions
listed under "Participation at the meeting venue" above. Hence, a
notification of participation only through postal voting is not
sufficient for shareholders who also wish to attend the meeting
venue.
A special form shall be used for postal voting. The form for
postal voting is available at Electrolux Group's website,
www.electroluxgroup.com/agm2025 and is also provided by the Company
upon request.
The completed and signed form for postal voting shall be either
sent by post to AB Electrolux, c/o Euroclear Sweden AB, Box 191,
SE-101 23 Stockholm, Sweden, or by
e-mail to GeneralMeetingService@euroclear.com. Shareholders may
also cast their postal vote electronically through verification
with BankID via Euroclear Sweden AB's website,
https://anmalan.vpc.se/EuroclearProxy/.
If the shareholder submits its postal vote by proxy, a written
and dated proxy signed by the shareholder must be enclosed to the
form for postal voting. A representative for a shareholder that is
a legal entity must enclose, to the form for postal voting, a
registration certificate or other supporting document which shows
the authorized signatory of the shareholder. Proxy forms are
available on Electrolux Group's website,
www.electroluxgroup.com/agm2025 and are also provided by the
Company upon request.
The shareholder may not provide specific instructions or
conditions to the postal vote. If so, the vote (i.e., the postal
vote in its entirety) is invalid. Further instructions and
conditions are included in the form for postal voting and at
Euroclear Sweden AB's website,
https://anmalan.vpc.se/EuroclearProxy/.
Shares registered in the name of a nominee
In order to be entitled to participate in the Annual General
Meeting, by attending the meeting venue or by postal voting, a
shareholder whose shares are registered in the name of a nominee
must, in addition to giving notice of participation in the Annual
General Meeting in accordance with the instructions above, register
its shares in its own name so that the shareholder is listed in the
presentation of the share register as of the record date on
Tuesday, March 18, 2025. Such
re-registration may be temporary (so-called voting rights
registration), and request for such voting rights registration
shall be made to the nominee, in accordance with the nominee's
routines, at such time in advance as decided by the nominee. Voting
rights registrations that have been made by the nominee no later
than Thursday, March 20, 2025, will
be taken into account in the presentation of the share
register.
Agenda
- Election of Chair of the Annual General Meeting.
- Preparation and approval of voting list.
- Approval of agenda.
- Election of two minutes-checkers.
- Determination as to whether the Annual General Meeting has been
properly convened.
- Presentation of the Annual Report and the Audit Report as well
as the Consolidated Accounts and the Group Audit Report.
- Presentation by the President and CEO.
- Resolution on adoption of the Income Statement and the Balance
Sheet as well as the Consolidated Income Statement and the
Consolidated Balance Sheet.
- Resolution on discharge from liability of the Directors and the
President and CEO for 2024.
- Resolution on dispositions in respect of the Company's profit
or loss pursuant to the adopted Balance Sheet.
- Determination of the number of Directors and Deputies.
- Determination of fees to the Board of Directors and the
Auditor.
- Election of Board of Directors and Chair of the Board.
- Geert Follens (re-election)
- Petra Hedengran (re-election)
- Ulla Litzén (re-election)
- Torbjörn Lööf (re-election)
- Daniel Nodhäll (re-election)
- Karin Overbeck
(re-election)
- David Porter (re-election)
- Michael Rauterkus
(re-election)
- Yannick Fierling (new
election)
- Torbjörn Lööf as Chair of the Board (re-election)
- Election of Auditor.
- Resolution on approval of the Remuneration Report.
- Resolutions on
- transfer of own shares on account of company acquisitions;
and
- transfer of own shares on account of the share program for
2023.
- Resolutions on
- implementation of a performance based long-term share program
for 2025; and
- transferring own shares to the participants in the long-term
share program for 2025; or
- entering into an equity swap agreement with a third party.
- Closing of the Annual General Meeting.
Proposals for decisions
Item 1 – Election of Chair of the Annual General
Meeting
AB Electrolux Nomination Committee, consisting of the Chair
Christian Cederholm (Investor AB)
and the members Marianne Nilsson
(Swedbank Robur Funds), Anders
Hansson (AMF Tjänstepension och Fonder), Carina Silberg (Alecta) and Torbjörn Lööf (Chair
of the Board of AB Electrolux), proposes
- Eva Hägg, member of the Swedish Bar Association, as Chair of
the Annual General Meeting.
Item 2 – Preparation and approval of voting list
The voting list proposed for approval is the voting list drawn
up by Euroclear Sweden AB on behalf of the Company, based on the
Annual General Meeting's register of shareholders, shareholders
having given notice of participation and being present at the
meeting venue, and postal votes received.
Item 10 – Resolution on dispositions in respect of the
Company's profit or loss pursuant to the adopted Balance
Sheet
The Board of Directors proposes that no dividend shall be
distributed for the fiscal year 2024 and that available funds shall
be carried forward in the new accounts.
Item 11 – Determination of the number of Directors and
Deputies
The Nomination Committee proposes that the number of Directors
of the Company elected by the Annual General Meeting shall be nine
and that no Deputies shall be appointed.
Item 12 – Determination of fees to the Board of Directors and
the Auditor
The Nomination Committee proposes fees to Directors of the Board
not employed by Electrolux Group as follows.
- SEK 2,660,000 to the Chair of the
Board and SEK 775,000 to each of the
other Directors of the Board elected by the Annual General Meeting;
and
- for committee work, to the members who are appointed by the
Board of Directors:
SEK 392,000 to the Chair of the Audit
Committee and SEK 248,000 to each of
the other members of the Audit Committee, SEK 212,000 to the Chair of the People Committee
and SEK 145,000 to each of the other
members of the People Committee, and SEK
360,000 to the Chair of the Strategic Planning Committee and
SEK 205,000 to each of the other
members of the Strategic Planning Committee.
In addition to the above fees, the Nomination Committee also
proposes that the following meeting fee will be paid to each
Director, for each Board meeting in Sweden such Director attends in-person:
- For a Director domiciled in the Nordics: 0
- For a Director domiciled in Europe outside the Nordics: EUR 1,500
- For a Director domiciled outside Europe: USD
3,000
The Nomination Committee further proposes that the Auditor's fee
be paid as incurred, for the Auditor's term of office, on approved
account.
Item 13 – Election of Board of Directors and Chair of the
Board
The Nomination Committee proposes that the following persons are
elected to the Board of Directors until the end of the Annual
General Meeting 2026.
- Re-election of the Directors Geert
Follens, Petra Hedengran, Ulla Litzén, Torbjörn Lööf, Daniel
Nodhäll, Karin Overbeck,
David Porter and Michael Rauterkus;
- New election of Yannick Fierling
as Director; and
- Re-election of Torbjörn Lööf as Chair of the Board of
Directors.
A presentation of the proposed Directors of the Board is
available on Electrolux Group's website,
www.electroluxgroup.com/agm2025.
Item 14 – Election of Auditor
The Nomination Committee proposes, in accordance with the
recommendation by the Audit Committee, election of the audit firm
Öhrlings PricewaterhouseCoopers AB as the Company's auditor for the
period until the end of the Annual General Meeting 2026.
Item 16 – Resolutions on a) transfer of own shares on account
of company acquisitions; and b) transfer of own shares on account
of the share program for 2023
The Company has previously, on the basis of authorizations by
the Annual General Meeting, acquired own shares for the purpose of
using these shares to finance potential company acquisitions, as a
hedge for the Company's share related incentive programs as well as
to adapt the Company's capital structure. The Board of Directors
considers it to be of continued advantage for the Company to be
able to use repurchased shares on account of potential company
acquisitions and the Company's share related incentive programs,
and the Board of Directors therefore proposes the authorization to
be renewed for the period until the following Annual General
Meeting.
In view of the above, the Board of Directors proposes as
follows.
a) Transfer of own shares on account of company acquisitions
The Board of Directors proposes the Annual General Meeting to
authorize the Board of Directors, for the period until the next
Annual General Meeting, on one or several occasions, to resolve on
transfers of the Company's own shares of series B in connection
with or as a consequence of company acquisitions as follows.
- Own shares of series B held by the Company at the time of the
Board of Directors' decision on the transfer may be
transferred.
- Transfer of shares may take place outside Nasdaq Stockholm as
set out in Chapter 19, Sections 35–37 of the Swedish Companies
Act.
- The shares may be transferred with deviation from the
shareholders' preferential rights. The reason for the deviation
from the shareholders' preferential rights shall be that transfer
of own shares enables alternative forms of payment for company
acquisitions which according to the Board of Directors is
beneficial for the Company and contributes to increased shareholder
value.
- Transfer of shares shall be made at a minimum price per share
corresponding to an amount in close connection with the price of
the Company's share of series B on Nasdaq Stockholm at the
time of the decision on the transfer.
- Payment for transferred shares may be made in cash, by
contributions in kind or by a set-off of Company debt.
b) Transfer of own shares on account of the share program for
2023
The Board of Directors proposes that the Annual General Meeting
resolves that the Company shall be entitled, for the period until
the next Annual General Meeting, on one or several occasions, to
transfer a maximum of 815,000 own shares of series B in the Company
for the purpose of covering costs related to social security
charges, that may arise as a result of the Company's obligations
under the previously adopted share program for 2023. Such transfers
shall take place on Nasdaq Stockholm at a price within the
prevailing price interval for the Company's shares of series B at
Nasdaq Stockholm from time to time.
Majority requirement
Valid resolutions in accordance with the Board of Directors'
proposals a) and b) above require that shareholders holding no less
than two thirds of the votes cast as well as the shares represented
at the Annual General Meeting are in favor of the proposals.
Item 17 – Resolutions on a) implementation of a performance
based long-term share program for 2025, and hedging arrangements by
either b) transferring own shares to the participants in the
long-term share program for 2025 or c) entering into an equity swap
agreement with a third party
Background
The Board of Directors in the Company has decided to propose a
performance based long-term incentive program for 2025 (the "Share
Program 2025"). The proposed program is in all material aspects
unchanged compared with the share program for 2024, with the
exception that a one-year performance period shall be applied with
respect to the financial performance target ('earnings per share')
whilst the three-year performance period shall remain for the other
performance target ('CO2 reduction'). The Board of
Directors is convinced that the proposed program will be beneficial
to the Company's shareholders as it will contribute to the
possibilities to recruit and retain competent employees in
Electrolux Group, is expected to increase the commitment and the
motivation of the program participants and strengthen the
participants' ties to the Company and its shareholders.
Proposals of the Board of Directors
In view of the above, the Board of Directors proposes that the
Annual General Meeting resolves a) to implement the Share Program
2025, and hedging arrangements by either b) transferring own shares
to the participants in the Share Program 2025 or c) entering into
an equity swap agreement with a third party.
a) Resolution on implementation of a performance based long-term
share program for 2025
The Board of Directors proposes that the Annual General Meeting
resolves to implement the Share Program 2025 with the following
principal terms and conditions:
- The program is proposed to include up to 800 senior managers
and key employees of Electrolux Group, who are divided into
seven participant groups; the President and CEO ("Group 1"), other
members of Group Management ("Group 2"), and five additional groups
for other senior managers and key employees ("Group 3–7").
Invitation to participate in the program shall be provided by the
Company no later than on May 16,
2025.
- Participants are offered to be allocated shares of series B in
the Company ("Performance Shares"), provided that the participant
remains employed until January 1,
2028. Exemptions to this requirement may be prescribed in
specific cases, including a participant's death, disability,
retirement or the divestiture through a sale, spin-off or otherwise
of the participant's employing company from Electrolux
Group.
- The Performance Shares shall be based on maximum performance
values for each participant group. The maximum performance value
for the participants in Group 1 will be 100 per cent of the
participant's annual base salary for 2025, for participants in
Group 2, 90 per cent of the participant's annual base salary for
2025, for participants in Group 3, 80 per cent of the participant's
annual base salary for 2025, for participants in Group 4, 60 per
cent of the participant's annual base salary for 2025, for
participants in Group 5, 50 per cent of the participant's annual
base salary for 2025, for participants in Group 6, 40 per cent of
the participant's annual base salary for 2025, and for participants
in Group 7, 20 per cent of the participant's annual base salary for
2025. The total sum of the maximum values of the Performance Shares
defined for all participants will not exceed MSEK 541
excluding social costs.
- Each maximum performance value shall thereafter be converted
into a maximum number of Performance Shares[1], based on
the average closing price paid for the Company's share of series B
on Nasdaq Stockholm during a period of ten trading days before the
day the participants are invited to participate in the Share
Program 2025, reduced by the present value of estimated dividend
payments for the period until shares are allotted.
- The calculation of the number of Performance Shares shall be
connected to performance targets established by the Board of
Directors for the performance period, for Electrolux Group's
(i) earnings per share[2] and (ii) CO2
reduction[3]. The performance targets adopted by the
Board of Directors will stipulate a minimum level and a maximum
level, with the relative weight of the performance targets (i) and
(ii) being 80 per cent and 20 per cent, respectively. For the
participants in Group 1 and 2 (Group Management), the granted
Performance Shares based on (i) and (ii) will be multiplied by
0.75–1.25 depending on the outcome of a relative total shareholder
return target[4]. The performance period is one year
(financial year 2025) with respect to performance target (i)
earnings per share and three years (financial years 2025–2027) with
respect to performance target (ii) CO2 reduction as well
as three years (financial years 2025–2027) with respect to the
relative total shareholder return target for the participants in
Group 1 and 2 (Group Management).
- Performance outcome of the established performance targets will
be determined by the Board of Directors after the expiry of the
respective performance period. If the maximum performance level is
reached or exceeded, the allocation will amount to (and will not
exceed) the maximum number of Performance Shares following from 3
and 4 above. If performance is below the maximum level but exceeds
the minimum level, a proportionate allocation of Performance Shares
will be made. No allocation will be made if performance amounts to
or is below the minimum level. Information on the performance
targets and the outcome will be provided no later than in
connection with the allocation of Performance Shares in accordance
with 7 below.
- If all conditions in the Share Program 2025 are met, allocation
of Performance Shares will take place in the first half of 2028.
Allocation will be free of consideration except for tax
liabilities.
- Certain deviations in or adjustments of the terms and
conditions for the Share Program 2025 may be made based on local
rules and regulations as well as applicable market practice or
market conditions or, where appropriate, due to group
re-organizations, including cash settlement instead of delivery of
shares under certain circumstances.
- The Board of Directors, or a committee established by the Board
for these purposes, shall be responsible for the preparation and
management of the Share Program 2025, within the framework of the
aforementioned terms and conditions.
- If material changes would occur within Electrolux Group or
on the market that, according to the Board of Directors'
assessment, would lead to the conditions for allocation of
Performance Shares no longer being reasonable, the Board of
Directors shall also have the right to make other adjustments of
the Share Program 2025, including e.g. a right to resolve on a
reduced allotment of Performance Shares.
Costs for the Share Program 2025
The total costs for the Share Program 2025, if the maximum
number of Performance Shares are delivered, are estimated to a
maximum of MSEK 629, which corresponds to approximately 2.61 per
cent of Electrolux Group's total employment cost for 2024. The
costs will be recognized over the years 2025–2027, in accordance
with IFRS 2. The costs have been calculated as the sum of salary
costs, including social costs, and administration costs for the
program. Administration costs are estimated to be less than MSEK 1.
If no allotment of shares is made, only administration costs will
arise.
The costs have been calculated based on the value, at the start
of the program, of the Performance Shares that may be allotted at
maximum performance, through transfer of own shares, with a
reduction of the present value of estimated dividend payments
during a three-year period. The estimate on maximum costs assumes
maximum performance and that the number of participants that will
leave Electrolux Group during the performance period is the same as
the historical average since the introduction of share programs in
2004. In the calculation, a maximum share price of SEK 183 per share has been applied.
Hedging measures for the Share Program 2025
In order to implement the Share Program 2025 in a cost-effective
and flexible manner, the Board of Directors has considered various
methods for transfer of shares to the participants. The Board of
Directors has found that the most cost-effective alternative is
transfer of own shares and proposes as the main alternative that
the Annual General Meeting resolves on transfer of own shares in
accordance with item b) below.
Should the majority required under item b) below not be reached,
the Board of Directors proposes that the Annual General Meeting
resolves that the Company should be able to enter into an equity
swap agreement with a third party in accordance with item c) below.
The costs in connection with an equity swap agreement will be
higher than the costs in connection with the transfer of own
shares.
Number of shares, effects on key figures, etc.
The maximum number of Performance Shares that could be allotted
to the participants under the Share Program 2025 shall be limited
to 6,518,000, which corresponds to approximately 2.30 per cent of
the total number of shares and 1.83 per cent of the votes in the
Company.[5] The Share Program 2025 does not result
in any dilutive effect on share capital or votes. If repurchased
own shares are allocated under the Share Program 2025, the number
of outstanding shares in the Company will increase with not more
than 6,518,000 shares of series B, which corresponds to a maximum
dilutive effect on earnings per share of approximately 2.36 per
cent.[6] The dilutive effect on earnings per share
is independent of the share price as Performance Shares are
delivered free of consideration.
The total maximum increase in the number of outstanding shares
of all outstanding share programs in the Company is estimated to be
not more than 16,591,000 shares of series B, delivered free of
consideration, corresponding to a dilutive effect on earnings per
share of approximately 5.80 per cent.[7] In this
calculation, the maximum allotment of shares has been assumed for
the share programs 2025, 2024 and 2023.
b) Resolution on transfers of own shares to the participants in
the long-term share program for 2025
In order to secure the delivery of Performance Shares in
accordance with the terms and conditions of the Share Program 2025,
the Board of Directors proposes that the Annual General Meeting
resolves that the Company shall transfer a maximum of 6,518,000
shares of series B in the Company on the following terms and
conditions:
- The right to receive shares shall be granted to participants
within Electrolux Group covered by the terms and conditions
pursuant to the Share Program 2025. Furthermore, subsidiaries
within Electrolux Group shall have the right to acquire shares,
free of consideration, and such subsidiaries shall be obligated to
immediately transfer, free of consideration, shares to participants
covered by the terms and conditions of the Share Program 2025.
- The participant shall have the right to receive shares during
the period when the participant is entitled to receive shares
pursuant to the terms and conditions of the Share Program
2025.
- Participants covered by the terms and conditions of the Share
Program 2025 shall receive shares of series B in the Company free
of consideration.
- The number of shares of series B in the Company that may be
transferred under the Share Program 2025 will be subject to
recalculation as a result of intervening bonus issues, splits,
rights issues and/or other similar corporate events.
c) Resolution on entering into an equity swap agreement with a
third party
In the event that the required majority under item b) above
cannot be reached, the Board of Directors proposes that the Annual
General Meeting resolves that the expected financial exposure of
the Share Program 2025 shall be hedged by the Company entering into
an equity swap agreement with a third party on terms and conditions
in accordance with market practice, whereby the third party in its
own name may acquire and transfer shares of series B in the Company
to employees who participate in the Share Program 2025. Indicative
costs for an equity swap agreement amount to approximately MSEK
45.
Conditions
The Annual General Meeting's resolution to implement the Share
Program 2025 in accordance with item a) above is conditional upon
the Annual General Meeting resolving either in accordance with the
proposal to transfer own shares of series B in the Company to
participants in the Share Program 2025 in accordance with item b)
above, or that an equity swap agreement with a third party may be
entered into by the Company in accordance with item c) above.
Majority requirements
The resolution of the Annual General Meeting to implement the
Share Program 2025 according to item a) above requires that more
than half of the votes cast at the Annual General Meeting are in
favor of the proposal. The resolution of the Annual General Meeting
to transfer own shares according to item b) above requires that
shareholders representing at least nine-tenths of the votes cast as
well as the shares represented at the Annual General Meeting are in
favor of the proposal. The resolution of the Annual General Meeting
that the Company may enter into an equity swap agreement with a
third party in accordance with item c) above requires that more
than half of the votes cast are in favor of the proposal.
Preparation of the proposal for the Share Program 2025
The proposal for the Share Program 2025 has been prepared by the
People Committee and the Board of Directors.
Other share related incentive programs
For a description of the Company's outstanding share related
incentive programs, reference is made to the Annual Report for
2024, note 27, and the corporate governance section on Electrolux
Group's website, www.electroluxgroup.com/en/. In addition to the
programs described, no other share related incentive programs have
been implemented.
Shares and votes
As of the day of announcement of this notice, there are in total
283,077,393 shares in AB Electrolux of which 8,191,804 are series A
shares, each carrying one vote, and 274,885,589 are series B
shares, each carrying one-tenth of a vote, corresponding to in
total 35,680,362.9 votes. As of the same date the Company holds
12,581,075 own shares of series B, corresponding to 1,258,107.5
votes that may not be represented at the Annual General
Meeting.
Shareholders' right to receive information
The Board of Directors and the President and CEO shall at the
Annual General Meeting, if any shareholder so requests and the
Board of Directors considers that it can be done without material
harm to the Company, provide information regarding circumstances
that may affect the assessment of an item on the agenda and
circumstances that may affect the assessment of the Company's or
its subsidiaries' financial situation and the Company's relation to
other group companies. Shareholders wishing to submit questions in
advance may send them to AB Electrolux, Attn: Office of the General
Counsel, SE-105 45 Stockholm,
Sweden or by e-mail at agm@electrolux.com.
Documents
The complete proposals from the Board of Director and the
Nomination Committee are set out above. Proxy forms, postal voting
form, a presentation of about the persons proposed as Directors of
the Board, and the Nomination Committee's explanatory statement
etc., can be found on Electrolux Group's website,
www.electroluxgroup.com/agm2025. The Annual Report, the Auditor's
Report, the Auditor's statement pursuant to Chapter 8, Section 54
of the Swedish Companies Act regarding the Remuneration Guidelines,
and the Remuneration Report pursuant to Chapter 8, Section 53 a of
the Swedish Companies Act, will be available no later than
Wednesday, March 5, 2025 at AB
Electrolux, S:t Göransgatan 143, SE 105 45 Stockholm, Sweden and on Electrolux Group's
website, www.electroluxgroup.com/agm2025. The documents will also
be sent to shareholders who so specifically request and state their
address.
For information on how your personal data is processed, see
https://www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf.
If you have questions regarding our processing of your personal
data, you can contact us by emailing privacy@electrolux.com. AB
Electrolux has company registration number 556009-4178 and the
Board's registered office is in Stockholm, Sweden.
Stockholm, February 2025
AB Electrolux (publ)
The Board of Directors
[1] With a possibility for the Board of
Directors to make adjustments for extraordinary events such as
bonus issue, split, rights issue and/or other similar events in
accordance with customary practice for corresponding incentive
programs.
[2] Earnings per share as defined in the
financial statements (with a possibility for the Board of Directors
to make adjustments for extraordinary events).
[3] The CO2 reduction target refers
to greenhouse gas reductions within the following two areas: (i)
operations and (ii) energy from product use, with the relative
weight of the performance targets being 25 per cent for area (i)
and 75 per cent for area (ii). The target will be measured on
selected predefined product categories and regions.
[4] The relative total shareholder return target
refers to the Company's total shareholder return ("TSR") (share
price appreciation added by sum of all dividends received during
the performance period) performance versus the FTSE EMEA Consumer
Discretionary index during 2025–2027. If the Company's TSR is at or
below the lower quartile of the index, a multiplier of 0.75 will
apply. If TSR is at or above the upper quartile, a multiplier of
1.25 will apply. If TSR is below the upper quartile but exceeds the
lower quartile a proportionate multiplier between 0.75 and 1.25
will apply. The Board of Directors will have the possibility to
make adjustments for extraordinary events such as a change of the
composition of the index during the performance period.
[5] With a possibility for the Board of
Directors to make adjustments for extraordinary events such as
bonus issue, split, rights issue and/or other similar events in
accordance with customary practice for corresponding incentive
programs.
[6] Outstanding shares defined as the total
number of issued shares in the Company reduced by the number of own
shares held by the Company.
[7] Outstanding shares defined as the total
number of issued shares in the Company reduced by the number of own
shares held by the Company.
For further information, please contact Electrolux Press
Hotline, +46 8 657 65 07.
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https://mb.cision.com/Main/1853/4104907/3262793.pdf
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250214 Press release
notice AGM 2025 AB Electrolux eng
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View original
content:https://www.prnewswire.co.uk/news-releases/notice-convening-the-annual-general-meeting-of-ab-electrolux-302376931.html
