The general meeting is the Company’s highest decision-making body through which shareholders exercise their influence in the Company. Shareholders who wish to participate at general meetings, personally or through a proxy, must be entered in the share register on the sixth bank day prior to the Meeting and must register with the Company in accordance with the notice to attend the Meeting. Notice to attend general meetings is given through announcements and on the Company’s website (www.ssab.com).
An annual general meeting (ordinary general meeting) must be held within six months of the expiration of the financial year. At the annual general meeting, the shareholders decide, among other things, on the following: election of the Board of Directors and, where appropriate, the auditors; the manner in which the Nomination Committee is to be appointed; and discharge from liability for the Board of Directors and President for the past year. Decisions are also made regarding adoption of the financial statements, allocation of profit, fees for the Board of Directors and the auditors, the remuneration report as well as, at least every fourth year, guidelines for compensation to the President and other senior executives.
In order to be included in the notice convening the general meeting and the agenda of the general meeting, proposals have to be received by the Board of Directors and the Nomination Committee, respectively, no later than seven weeks before the meeting (or in due time for the matter to be included in the notice convening the general meeting). Proposals for resolutions in matters already included on the agenda of the meeting must have been received by the Board of Directors in writing no later than three weeks before the meeting. However, as regards matters for which a proposal does not have to, under law or the articles of association, be submitted a certain time in advance (such as election of chairman of the general meeting, election of board members and auditors, fees to board members and auditor, and proposals by minority shareholders for dividend), each shareholder has the right to submit such proposal during the period up until the general meeting.
It follows from the agenda for the meeting what items that constitute elections or that require resolutions, and what items that are included for information purposes. In respect of items constituting elections, the meeting elects the person or persons who receive the most votes. Items on the agenda that require a resolution by the meeting are subject to a binding vote whereby the shareholders vote in favor or against or abstain from voting in the matter.
Extraordinary General Meeting 2021