Skandia's Extraordinary General Meeting.STOCKHOLM, Sweden -- At the Extraordinary General Meeting of Skandia Insurance Company Ltd ("Skandia") (STO:SDIA SDIA Securities and Derivatives Industry Association SDIA Stromal Cell-Derived Inducing Activity SDIA San Diego Ice Arena (San Diego, CA) SDIA System Design for Internet Applications ) (LSE LSE - Language Sensitive Editor :SFS (1) (Self-certifying File System) A global, network file system sponsored by DARPA that runs under Unix. Providing strong security in an untrusted environment, it enables any client to access any server that supports it. ) on 21 February 2006, in accordance with the recommendation of the Nominating Committee A nominating committee is a group formed usually from inside the membership of an organization for the purpose of nominating candidates for office within the organization. It works similarly to an electoral college, the main difference being that the available candidates, either , the following persons were elected as directors to Skandia's board for the period through the 2006 Annual General Meeting. --James Sutcliffe --Julian Roberts --Norman Broadhurst --Michael Newman --Bjorn Bjornsson --Lars Otterbeck All of the elected directors are for new election, except for Bjorn Bjornsson, who is for re-election. Further information about the elected directors is provided in an appendix. Following the Extraordinary General Meeting, the number of directors elected by the General Meeting has decreased from seven to six. In addition, the Board consists of three employee representatives. In addition and in accordance with the recommendation of the Nominating Committee, the Extraordinary General Meeting resolved to recommend the Board to appoint James Sutcliffe as Chairman of the Board. In connection with the Board constituting itself, Julian Roberts was appointed as the new Chief Executive Officer of Skandia, James Sutcliffe was appointed as Chairman of the Board and Bjorn Bjornsson was appointed as Vice Chairman. At the Extraordinary General Meeting James Sutcliffe informed the meeting that Old Mutual owns 89.5 per cent of the shares in Skandia. He also informed that it is Old Mutual's intention to initiate a process of compulsory purchase compulsory purchase Noun the enforced purchase of a property by a local authority or government department compulsory purchase n → expropiación f of the minority's shares in Skandia when Old Mutual holds more than 90 per cent of the shares. However, he added, Old Mutual will most likely not commence this process until the new Swedish New Swedish (Swedish: nysvenska) is the linguistic term used for the Swedish language from the Bible translation of 1526 to the development of a common national language around 1880. legislation on compulsory purchase of minority shares in insurance companies comes into effect, which is expected on 1 June 2006. As a consequence hereof and in conjunction with the compulsory purchase process, the Board intends to take measures to make preparations; to provide means. See also: measure to de-list the Skandia share from the Stockholm and London Stock Exchanges London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . Appendix to "Skandia's Extraordinary General Meeting" Presentation of the elected company directors: Bjorn Bjornsson (born 1946 in Sweden) M.Pol.Sc., University of Stockholm. Mr Bjornsson is the Vice Chairman of Skandia Insurance Company Ltd and chairs the Board's Audit Committee. In addition he has the following significant professional commitments: Director of Bure Equity AB, Billerud AB and E. Ohman J:or AB. He was first elected to the Board of Skandia Insurance Company Ltd in 2003. He has previously held positions as partner of Lancelot Asset Management AB, Head of Fund and Asset Management in the Gota Group and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Montagu Fondkommission AB. Holdings of shares and other financial instruments in Skandia Insurance Company Ltd by Mr Bjornsson or by related natural or legal persons: 0. Norman Broadhurst (born 1941 in the UK) qualified as a Chartered Accountant in the UK. He is a Fellow of the Association of Corporate Treasurers The Association of Corporate Treasurers (or ACT for short) was founded in 1979. It is the only British professional body specialising in the profession of corporate treasury. and Fellow of the Institute of Chartered Accountants. Mr Broadhurst has been a Non-executive Director of Old Mutual plc since 1999 and chairs the Old Mutual Group Audit Committee. In addition, he is Chairman of Chloride Group plc and Freightliner Limited; Deputy Chairman of Cattles plc and a Non-executive Director of Tomkins plc and United Utilities plc. From 1994 to 2000 he was the Group Finance Director of Railtrack plc. Holdings of shares and other financial instruments in Skandia Insurance Company Ltd by Mr Broadhurst or by related natural or legal persons: 0. Michael Newman (born 1945 in the UK) qualified as a Chartered Accountant in the UK. He is a Fellow of the Institute of Chartered Accountants. Mr Newman joined the Old Mutual Group in 2000. Since 2001 he has been the Chairman of Strategic Interests, Old Mutual plc. In addition he holds various directorships within the Old Mutual Group including Director of Constantia Insurance Company (Guernsey) Ltd and Global Edge Technologies (PTY Pty Austral & S African Proprietary ) Ltd. He has worked in the financial services industry since 1972 and previously held positions as Chief Executive of Britannia Arrow Holdings plc (now known as AMVESCAP plc); Deputy Chairman of National Employers Life Ltd; Director of Singer & Friedlander Ltd and also various roles with Prudential Corporation plc. Holdings of shares and other financial instruments in Skandia Insurance Company Ltd by Mr Newman or by related natural or legal persons: 0. Lars Otterbeck (born 1942 in Sweden) Dr. Econ. and Assistant Professor, Stockholm School of Economics The Stockholm School of Economics or Handelshögskolan i Stockholm is a business school and private university in Stockholm, Sweden. It was founded in 1909 to improve business education in Sweden. Controlled by a private trust, it also receives government support. . Mr Otterbeck has the following significant professional commitments: Chairman of Industry and Commerce Stock Exchange Committee, Hakon Invest AB and the SSE-MBA Foundation (Stockholm School of Economics); Deputy Chairman of the Swedish Corporate Governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. Board and of the Third Swedish National Pension Fund; Director of AB Lindex, Aberdeen Property Investors AB and Kaupthing Bank Sverige AB. From 2000 to 2004 he was the President and CEO of Alecta and from 1980 to 2000 he held various senior management positions within the Axel Johnson Group The Axel Johnson Group is a Swedish fourth-generation family-owned company. It traces its origins to the trading company A. Johnson & Co, founded in 1873. The Group consists of four legally and financially independent groups with a common owner, Antonia Ax:son Johnson and her . From 1995 to 1998 he was the Vice Chairman of the Swedish Employers Confederation. Holdings of shares and other financial instruments in Skandia Insurance Company Ltd by Mr Otterbeck or by related natural or legal persons: 0. Julian Roberts (born 1957 in the UK) B.A., Stirling University. Fellow of the Institute of Chartered Accountants. Since 2000 Mr Roberts has been the Group Finance Director of Old Mutual plc. He has also held various other directorships within the Old Mutual Group. From 1998 to 2000 he was Group Finance Director of Sun Life & Provincial Holdings plc and before that he was a Director and Chief Financial Officer of Aon UK Holdings Ltd. Holdings of shares and other financial instruments in Skandia Insurance Company Ltd by Mr Roberts or by related natural or legal persons: 0. James Sutcliffe (born 1956 in Malawi) B.Sc., University of Cape Town “UCT” redirects here. For other uses, see UCT (disambiguation). . Fellow of the Institute of Actuaries The Institute of Actuaries is one of the two professional bodies representing actuaries in the United Kingdom. The Institute is based in England, while the other body, the Faculty of Actuaries, is based in Scotland. . Since 2001 Mr Sutcliffe has been the Group Chief Executive of Old Mutual plc. He joined the Old Mutual group in 2000 as the Chief Executive of the Group's life assurance businesses. He also holds various other directorships within the Old Mutual Group and is a trustee of the Nelson Mandela Legacy Trust (UK). Before joining the Old Mutual Group, Mr Sutcliffe was Chief Executive, UK, of Prudential plc and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Jackson National (Prudential's US subsidiary). From 1998 to 1999 he was the Deputy Chairman of Liberty International Property and Financial Services. Holdings of shares and other financial instruments in Skandia Insurance Company Ltd by Mr Sutcliffe or by related natural or legal persons: 0. www.skandia.com This information was brought to you by Waymaker http://www.waymaker.net |
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