Recap of FLSmidth & Co. A/S' Annual Shareholders' Meeting | MarketScreener

The company has issued its ninth announcement for the year 2023, on 29 March in Copenhagen, Denmark.

FLSmidth & Co A/S had their Annual General Meeting on Wednesday 29 March 2023 at 4 PM (CEST) at their company offices located on Vigerslev Allé 77, DK-2500 Valby. The following topics were on the meeting's agenda:

The ultimate endorsement of costs for the year 2022.

c. Establishing the initial estimate of charges for the year 2023

Section 8.1 - Changing the Articles of Association The process of altering the Articles of Association has been put in place to ensure that the company is able to adapt to the ever-changing business environment. This allows the company to alter its objectives, regulations, or any other important decision affecting its operations. To effect changes in the Articles of Association, a resolution must be passed by the board members during a meeting. This resolution must be supported by at least 75% of the board members, and any changes must be approved by the appropriate regulatory body. It is essential to note that changes in the Articles of Association could have a significant impact on shareholders' interests. As such, it is imperative that all shareholders are kept informed throughout the process and any decisions made are in the best interest of the company and its stakeholders.

The blog section on treasury shares can be rephrased as follows: In the world of finance, there is a concept known as treasury shares. This refers to the shares that a company has purchased back from its shareholders and is holding in its own treasury. These shares are regarded as a company's assets and can be used for various purposes, such as employee stock options, mergers and acquisitions, or to boost earnings per share. The reason why companies buy back their own shares can vary. Sometimes it's to offset dilution that arises from issuing new shares. Other times, it's to signal to investors that the company thinks its stock is undervalued. Whatever the reason, having treasury shares can benefit the company in terms of strategic flexibility and capital structure optimization. It's worth noting that owning treasury shares is different from owning ordinary shares as they have no voting rights and do not receive dividends. Also, there are limits on how many treasury shares a company can hold based on the jurisdiction in which it operates. In conclusion, treasury shares are an important part of a company's financial toolkit. They offer flexibility and strategic options that can be used to benefit the company and its shareholders.

In the meeting, the report of the Board of Directors was duly acknowledged.

Regarding the second item, the gathering of attendees officially accepted the Annual Report for the upcoming year 2022.

Regarding point three, the sanctioning of the remuneration for the Board of Directors:

a: The gathering of representatives gave the green light for the compensation to be given to the Board of Directors in 2022. b: The meeting of all members agreed upon the initial decision of compensation for 2023.

Regarding item 4, the proposition put forth by the Board of Directors to distribute dividends at a rate of DKK 3 per share was approved.

Regarding point 5, the advisory vote approved the Remuneration Report for the year 2022.

During the sixth meeting, the board of directors were re-elected which include Mr. Tom Knutzen, Mads Nipper, Ms. Anne Louise Eberhard, Ms. Gillian Dawn Winckler, and Mr. Thrasyvoulos Moraitis. In addition, a new member named Daniel Reimann was voted and added to the Board of Directors.

In the seventh paragraph, it was agreed upon at the meeting that Ernst & Young Godkendt Revisionspartnerselskab will continue as the auditor. This decision was made based on the suggestion put forth by the audit committee and approved by the Board of Directors.

In plain language, the proposal to give the Board of Directors permission to increase the company's share capital was accepted. This permission will last until March 29th, 2028, and will allow for the creation of new shares worth up to DKK 100,000,000.

Regarding point 8.2, the proposition permitting the Board of Directors to buy back treasury shares until the following Annual General Meeting has been authorized.

Regarding item number nine: During the Annual General Meeting, AkademikerPension and LD Fonde's shareholder proposal regarding the company's communication of their commitment to human rights and labor rights was approved. They have also agreed to publish a double materiality assessment which will include human rights and the related financial risks, starting in 2024.

It seems that there is no other activity going on at the moment.

The head of the yearly gathering ended the event at 5:16 PM (Central European Summer Time).

At the Annual General Meeting, more than half of the votes and the amount of share capital were present, which accounted for 52.42% of the overall representation.

During the next scheduled gathering of the board, the members of the Board of Directors picked Mr. Tom Knutzen to be the Chair and Mr. Mads Nipper to fill the position of Vice Chair.

If you're looking to connect with FLSmidth's investor relations team, you have a few options. You can reach out via phone or email to Jannick Lindegaard Denholt ([email protected]), Therese Möllevinge ([email protected]), or Mikkel Johansen ([email protected]). It's great to see FLSmidth making it easy for interested parties to get in touch with their investor relations team.

Connecting with the Press Contact Rasmus Windfeld at +45 40 44 60 60 or email him at [email protected] for media inquiries.

FLSmidth is a global provider of technology and services for the mining and cement industries. Our goal is to help our customers enhance their performance, reduce costs and minimize their environmental footprint. We're dedicated to achieving MissionZero, which is our sustainability objective to achieve zero emissions in the mining and cement industries by 2030. At FLSmidth, we prioritize Science-Based Targets to ensure we're doing our part to limit global warming to below 1.5°C. Additionally, we're committed to being carbon neutral in our own operations by 2030. To learn more about what we do, visit our website at www.flsmidth.com.