Committees

For the AGM 2010, the Nomination Committee consisted of principal owners Åke Eriksson and Paul Yates. The Nomination Committee was submitting the following proposals to the AGM:


The Board of Directors is proposed to consist of four members without deputies with re-election of the board members Paul Cheetham, Åke Eriksson, Anders Waltner and Paul Yates proposed. Åke Eriksson is proposed to remain as Chairman of the Board. Proposed remuneration to the Board is a total of SEK 200,000, with Paul Cheetham and Anders Waltner each receiving SEK 100,000. No fees will be payable to other Board members.


The Nomination Committee is proposing the following procedure for appointing the Nomination Committee. The Nomination Committee shall consist of representatives of the three largest shareholders, with the representative of the largest shareholder being convener. The Nomination Committee will appoint a Chairman internally. The name of the Nomination Committee members and the shareholders they represent shall be published by no later than six months prior to the AGM and based on known ownership immediately prior to publication. If an owner that is represented in the Nomination Committee as a representative for one of the three largest shareholders is no longer one of the three largest shareholders after publication, its representative will put his/her place on the Committee at its disposal, and such shareholder, which at that time is one of the three largest shareholders, will be offered a place on the company’s Nomination Committee instead. However, marginal changes do not need to be considered. Shareholders appointing a representative on the Nomination Committee are entitled to dismiss such representative and appoint a new representative.


The Nomination Committee shall prepare proposals on the following matters for resolution at the AGM:

  • Chairman of the Meeting
  • Directors’ fees
  • Election of Board members and Chairman
  • Election of Auditors and their fees
  • Potential proposals for changes in procedure for appointing a Nomination Committee

No fees are payable to the Nomination Committee. However, the company will meet reasonable costs for performing the Nomination Committee’s duties.


In accordance with a Board decision, there is no dedicated audit or remuneration committee. Instead, the Board as a whole performs the duties of such committees. The background is that the Board currently comprises only four people, including the CEO, which facilitates efficient work of the Board.