[Stockholm, 17 May 2022] – SinterCast Aktiebolag’s Annual General Meeting (AGM) was conducted on 17 May 2022. During the AGM, Dr Steve Dawson, President & CEO, presented an overview of recent market activities and provided an outlook for the potential market development. Dr Dawson acknowledged the current challenges in the market, but expressed confidence in the continued double-digit growth of series production. Specifically, he reiterated the goal to grow from the current annualised monthly production of approximately 3.3 million Engine Equivalents to four million before year-end; the ambition to reach the five million milestone in 2024; and, the company’s confidence in growth beyond five million Engine Equivalents. Dr Dawson also presented the new petrol engine concept for small passenger vehicles that SinterCast unveiled together with Tupy and Ricardo at the Vienna Motor Symposium on 27 April. He noted that the concept had already been presented directly to a handful of OEM’s, receiving positive feedback and interest. SinterCast and its partners will continue to motivate this new technology to establish new opportunities for Compacted Graphite Iron in small engines using petrol and alternative low-carbon fuels, and in hybrid and range extender applications. The recorded presentation will be available on the SinterCast website on or before 23 May.
Adoption of the profit and loss statements and balance sheets and decision on dividend
The AGM adopted the profit and lost statements and the balance sheets included in the 2021 annual report and decided on a dividend of SEK 5.00 per share (totally SEK 35,450,665) for the financial year 2021, of which SEK 4.50 per share is ordinary dividend and SEK 0.50 per share is extraordinary dividend. The dividend is divided into two equal payments of SEK 2.50 per share with the record date 19 May 2022 for the first payment and the record date 7 November 2022 for the second payment.
Board of Directors and Auditor
The AGM granted the Board Members and the Managing Director discharge from liability for the financial year 2021.
The AGM re-elected Jun Arimoto, Steve Dawson, Robert Dover, Steve Gill, Jan Åke Jonsson, and Åsa Källenius as Board Members for the period until the end of the next AGM. Jan Åke Jonsson was re-elected as Chairman of the Board. Further, the AGM re-elected the registered auditing company KPMG AB as auditor for the period until the end of the next AGM. Jonas Eriksson will be the principal auditor.
Remuneration to the Board Members and the Auditor
The AGM determined that remuneration of the Board Members, for the period until the next AGM, shall be SEK 410,000 for the Chairman and SEK 190,000 each for the other ordinary Board Members. No remuneration shall be paid to a Board Member employed by the company.
The AGM further determined that, for the period until the next AGM, remuneration for committee work shall be paid as follows: SEK 35,000 to the Chairman of the Remuneration Committee and SEK 20,000 to each of the other members of the Remuneration Committee; and, SEK 50,000 to the Chairman of the Audit Committee and SEK 25,000 to each of the other members of the Audit Committee. No remuneration shall be paid for committee work to any Board Member employed by the company.
The AGM decided that the auditor shall be paid against approved invoice.
The Nomination Committee
The AGM re-elected Carina Andersson, Andrea Fessler, Aage Figenschou, Jan Åke Jonsson and Victoria Skoglund as Members of the Nomination Committee for the period until the end of the next AGM. Victoria Skoglund was re-elected Chairman of the Nomination Committee.
Approval of the Remuneration Report 2021
The AGM decided to approve the Board of Director’s Remuneration Report for 2021.
Authorisation of the Board of Directors to decide upon acquisition and disposal of SinterCast shares
The AGM authorised the Board of Directors to, on one or more occasions prior to the next Annual General Meeting:
The purpose of the authorisation is for SinterCast to be able to acquire its own shares at any given time so as to adapt the capital structure of the company and to be able to transfer shares in connection with a potential acquisition of a company or business.
For and on behalf of the Board of Directors:
Dr. Steve Dawson
President & CEO
SinterCast AB (publ)
Mobile: +44 771 002 6342
SinterCast® is the world’s leading supplier of process control technology for the reliable high volume production of Compacted Graphite Iron (CGI). The properties of CGI enable improved transport solutions, increasing efficiency and reducing carbon emissions in passenger vehicle, commercial vehicle and industrial power applications. As a specialist supplier of precision measurement and process control solutions to the metals industry, SinterCast also supplies the SinterCast Ladle Tracker® and SinterCast Cast Tracker® technologies, to improve production efficiency and Industry 4.0 traceability in a variety of applications. With 54 installations in 14 countries, SinterCast is a publicly traded company, quoted on the Small Cap segment of the Nasdaq Stockholm stock exchange (SINT). For more information: www.sintercast.com
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