Swedish Match Annual General Meeting 2017

STOCKHOLM, May 4, 2017 /PRNewswire/ -- Major items approved by today's Annual General Meeting include:

•  An ordinary dividend of 8.50 SEK per share and a special dividend of 7.50 SEK per share, in total 16.00 SEK per share

•  Mandate to repurchase up to 10 percent of all shares in the Company

•  Withdrawal of 6,950,000 repurchased company shares with a simultaneous bonus issue without issuing any new shares

•  Mandate to resolve on transfer of shares in the Company and to issue new shares

•  Election of Deloitte AB as auditor

At the Annual General Meeting of Swedish Match AB (publ) on May 4, it was resolved, in accordance with the proposal of the Board of Directors, to pay an ordinary dividend of 8.50 SEK per share and a special dividend of 7.50 SEK per share, in total 16.00 SEK per share. The record day for the right to receive a cash dividend is May 8, 2017 and payment through Euroclear Sweden AB is expected to be made on May 11, 2017.

Charles A. Blixt, Andrew Cripps, Jacqueline Hoogerbrugge, Conny Karlsson, Wenche Rolfsen and Joakim Westh were re-elected as members of Swedish Match's Board of Directors. Pauline Lindwall was elected as new member of the Board of Directors. Conny Karlsson was re-elected as Chairman of the Board and Andrew Cripps was re-elected Deputy Chairman of the Board. The Annual General Meeting further approved the proposed remuneration to the members of the Board of Directors as set out in the notice and the principles for remuneration and other terms for members of the executive management.

Furthermore, the Annual General Meeting approved the Board of Directors' proposal that it be authorized to resolve on acquisition of the Company's own shares, on one or several occasions prior to the next Annual General Meeting, provided the Company's holding does not at any time exceed 10 percent of all shares in the Company. The shares shall be acquired on Nasdaq Stockholm at a price within the price interval registered at any given time, i.e. the interval between the highest bid price and the lowest selling price. Swedish Match owns 7,006,190 treasury shares as per May 4, 2017.

In addition, the Annual General Meeting resolved to reduce the Company's share capital by 14,342,422 SEK by means of withdrawal of 6,950,000 previously repurchased shares held in treasury, with a simultaneous bonus issue, without issuing any new shares, of a corresponding amount to restore the share capital. The shareholders further approved the proposal that the reduction will be allocated to a fund for use pursuant to a resolution adopted by the Annual General Meeting.

The Annual General Meeting authorized the Board of Directors to resolve on transfer of the Company's own shares, on one or several occasions prior to the next Annual General Meeting. The shares may only be transferred in conjunction with the financing of company acquisitions and other types of strategic investments and acquisitions, and the transfers may not exceed the maximum number of treasury shares held by the Company at any given time. Transfer of own shares shall be made either on Nasdaq Stockholm or in another manner.

Furthermore, the Annual General Meeting approved the Board of Directors' proposal that it be authorized to, for the period until the end of the next Annual General Meeting, to issue new ordinary shares on one or more occasions, with or without deviation from shareholders' preferential rights and against payment in cash, in kind or by set-off. The number of shares that may be issued may not exceed a maximum dilution effect of 10 percent of the share capital and votes at the time of the Annual General Meeting 2017.

The Annual General Meeting elected Deloitte AB as auditor until the end of the Annual General Meeting 2019.

The Annual General Meeting approved all other proposals made by the Board of Directors and the Nominating Committee. The proposals are outlined in the published notice of the Annual General Meeting.

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Contacts:

Lars Dahlgren, President and Chief Executive Officer

Office +46 8 658 0441

Marlene Forsell, Senior Vice President and Chief Financial Officer

Office +46 8 658 0489

Emmett Harrison, Senior Vice President Investor Relations and Corporate Sustainability

Office +46 8 658 0173

Richard Flaherty, President US Division, US Investor Relations contact

Office +1 804 787 5130

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Swedish Match develops, manufactures, and sells quality products with market-leading brands in the product areas Snus and moist snuff, Other tobacco products (cigars and chewing tobacco), and Lights (matches, lighters, and complementary products). Production is located in six countries, with sales concentrated in Scandinavia and the US. The Group's global operations generated sales of 15,551 MSEK for the twelve month period ending 31 December 2016. The Swedish Match share is listed on Nasdaq Stockholm (SWMA).

Swedish Match's vision is a world without cigarettes. Some of its well-known brands include: General, Longhorn, White Owl, Red Man, Fiat Lux, and Cricket.

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Swedish Match AB (publ), SE-118 85 Stockholm, Sweden

Visiting address: Sveavägen 44, 8th Floor. Telephone: +46 8 658 0200

Corporate Identity Number: 556015-0756

www.swedishmatch.com  

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SOURCE Swedish Match