Report from the Annual General Meeting in Trelleborg AB.STOCKHOLM, Sweden -- The Annual General Meeting of the Trelleborg Group (STO STO Store (calculator function) STO Société de Transport de l'Outaouais (French) STO Strategic Technology Office (DARPA) STO Security Through Obscurity STO Service to Others :TRELB) attracted approximately 900 shareholders to Soderslattshallen in Trelleborg on April 25. In his address to the Meeting, President and Chief Executive Officer Peter Nilsson developed the Group's "Solutions securing values" theme. With the help of a number of illustrative il·lus·tra·tive adj. Acting or serving as an illustration. il·lus  tra·tive·ly adv.Adj. 1. examples derived from the aerospace and the offshore oil and gas extraction industries, among others, Peter Nilsson showed how Trelleborg, by offering advanced solutions that seal, damp and protect, secures investments, processes and individuals worldwide. The Trelleborg Group has grown by an annual average of 14 percent in the past five years, and is continuing to acquire operations. During the Meeting, Peter Nilsson presented the two latest acquisitions. The first, CRP C-reactive protein (CRP) A protein present in blood serum in various abnormal states, like inflammation. Mentioned in: Pelvic Inflammatory Disease CRP, n.pr See C-reactive protein. , complements Trelleborg's offshore range by providing a variety of advanced solutions and giving Trelleborg a world-leading position in the area. The second, Harbor and Marine Engineering, provides solutions that complement the Group's fender systems and makes the Group a world-leading supplier of advanced docking and monitoring systems. In total during 2005, Trelleborg acquired companies that have combined annual sales of approximately SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1.6 billion and Peter Nilsson notified the meeting that additional acquisitions might be expected. Peter Nilsson also pointed towards the need for profitability improvements on the basis of the stable earnings recorded for 2005. This will require stronger positions in selected segments and the realization of all efficiency-enhancing opportunities as soon as possible. To facilitate these efforts, the Group has initiated a development program for managers and employees. Dividend The Meeting resolved to approve the Board and President's motion to pay a dividend of SEK 5.50 per share. The record date for the dividend is April 28. It is therefore expected that the dividend will be distributed by VPC (1) (Virtual Processor Complex) An IBM mainframe multiprocessing system that uses several computers under tight central control. (2) See Virtual PC. on May 4. Board of Directors The Meeting resolved to approve the motion from shareholders representing approximately 65 percent of the voting rights Voting rights The right to vote on matters that are put to a vote of security holders. For example the right to vote for directors. voting rights The type of voting and the amount of control held by the owners of a class of stock. to reelect re·e·lect also re-e·lect tr.v. re·e·lect·ed, re·e·lect·ing, re·e·lects To elect again. re Helene Bergquist, Staffan Bohman, Rolf Kjellman, Berthold Lindqvist, Claes Lindqvist and Anders Narvinger. Trelleborg's new President and Chief Executive Officer Peter Nilsson was elected new Member of the Board, replacing Fredrik Arp, who left the Group on September 30, 2005. The Annual General Meeting elected Anders Narvinger as Chairman of the Board. Cancellation of shares Since 2001, the Group's Board of Directors has been authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: to make decisions on the acquisition of treasury shares up to a total of 10 percent of the total number of shares in the Company. The Company currently holds approximately 5.6 million treasury shares. The Annual General Meeting resolved to cancel these 5.6 million shares and to reduce the share capital. New authorization The right or permission to use a system resource; the process of granting access. See access control. to acquire treasury shares was not requested. Trelleborg is a global industrial group. Operations are based on spearhead competence within polymer materials and a high level of industrial know-how, combined with functional solutions and systems designed to meet the needs of our customers. The Trelleborg Group has annual sales of approximately SEK 24 billion, with about 22,000 employees in 40 countries. Trelleborg consists of five business areas: Trelleborg Automotive, Trelleborg Wheel Systems, Trelleborg Engineered Systems, Trelleborg Building Systems and Trelleborg Sealing Solutions. The Trelleborg share has been quoted on the A list of the Stockholm Stock Exchange The Stockholm Stock Exchange (Swedish: Stockholmsbörsen) is a stock exchange located in Stockholm, Sweden. Founded in 1863 [1] it is the primary securities exchange of the Nordic Countries. since 1964. www.trelleborg.com This information was brought to you by Waymaker http://www.waymaker.net |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion