The Rezidor Hotel Group: Decisions at the Annual General Meeting on May 4, 2007

04 May 2007

 

The Annual General Meeting of The Rezidor Hotel Group was held today, May 4, 2007 in Stockholm. During the meeting, the following decisions were taken:

Dividend: The dividend will be 0.06 Euro per share. Record day for the dividend will be May 9, 2007; the payment of the dividend will be sent out via VPC AB on May 16, 2007.

Board of Directors: The following members were re-elected: Urban Jansson (also re-elected as Chairman), Marilyn Carlson Nelson, Harald Einsmann, Ulla Litzén, Trudy Rautio, Jay S. Witzel and Benny Zakrisson. New members are: Barry Wilson and Göte Dahlin.

Barry Wilson (born 1944) is Senior Vice President International Affairs and President Greater China of Medtronics Inc. He is also a member of the board of Bausch & Lomb, and the honorary chairman of Eucomed, as well as Senior Adviser to Advamed.

Göte Dahlin (born 1941) has served as President for Nordisk Renting AB. He is chairman of the board of Veidekke ASA, vice chairman of the board of RBS Nordisk Renting AB, a member of the board of Fabege AB, Svensk Inredning Viking AB and ZAO Pervomayskaya Zarya in St. Petersburg.

During the constitutional board meeting Marilyn Carlson Nelson was elected vice chairman of the board.

Increase of share capital through a bonus issue: The company’s articles of association are amended in order to permit a capital increase through a bonus issue. The limits for the share capital were amended to be not less than 5,000,000 Euro and not more than 20,000,000 Euro. The share capital of the company increases with 9,873,416 Euro (transfer from unrestricted equity) resulting in a share capital of 10,000,000 Euro. No new shares will be issued.

Share based incentive programme: A performance share programme 2007 will be implemented – based on no more than a total of 1,250,000 shares (including the shares that may be necessary in order to cover social costs). The programme will comprise about 25 senior executives within the group, and its term will be three years. Participants will be given the opportunity after a qualification period to without consideration receive allotments of shares. Such allotment of shares is conditional upon certain financial targets – these targets include a minimum level which must be achieved in order for any allotment to occur; as well as a maximum level in excess of which no additional allotment will occur.

Acquisitions and transfers may only be effected on the SSE. No more than 930,000 shares may be acquired to secure delivery of shares to participants in the programme. And no more than 320,000 shares may be acquired and transferred to cover social security costs pertaining to the programme.

Share buy back: The Board of Directors was authorised until the AGM 2008 to decide on acquisitions of the company’s shares on the SSE. Shares may be acquired to the extent that the company’s holding of its own shares following the acquisition at the most reaches one-tenth of all shares in the company.

Minutes from the Annual General Meeting will be published at www.rezidor.com where also more detailed information about the contents of the decisions based on the board’s proposals can be found.



For further information, please contact:
The Rezidor Hotel Group
Per Blixt, Head of Corporate Communications & Investor Relations
Tel. +32 477 760 267, Per.Blixt@Rezidor.com