The Annual General Meeting of Svitzer Group A/S took place on 10 April 2025 as a completely electronic general meeting with the agenda set out below.
The Board of Directors had appointed Niels Kornerup, attorney-at-law, as meeting chair.
Agenda
The Board of Directors’ report on the Company’s activities in the past financial year
The general meeting took notice of the Chair of the Board of Directors’ report on the Company’s activities in the past financial year.
Presentation and adoption of the audited annual report
The audited annual report was presented and adopted.
Distribution of profit or covering of loss according to the adopted annual report
The general meeting resolved to distribute a dividend of DKK 8.00 per share with a nominal value of DKK 10.00 each and that the remaining result for 2024 was carried forward to next year.
Resolution to grant discharge of liability to the Board of Directors and the Executive Management
The general meeting granted discharge of liability to the Board of Directors and the Executive Management.
Presentation of the Company’s remuneration report for an advisory vote
The remuneration report was presented and approved.
Approval of remuneration to the Board of Directors for the current financial year
The Board of Directors’ remuneration for the current financial year was approved.
Election of members to the Board of Directors
Morten H. Engelstoft, Robert M. Uggla, Christine Brennet (Morris) and Peter Wikström were all re-elected for a term of one year.
Ghim Siew Ho was elected as new member of the Board of Directors.
Subsequent to the Annual General Meeting, Morten H. Engelstoft was elected Chair and Robert M. Uggla was elected Vice Chair of the Board of Directors.
Election of auditor
PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab was re-elected as the Company’s auditor in respect of statutory financial reporting and assurance engagements related to sustainability reporting.
Authorisation to acquire treasury shares
The general meeting resolved to extend the Board of Directors’ existing authorisation to allow the Company to acquire own shares in the period until 1 April 2030.
Any proposals from the Board of Directors or shareholders
Amendments to the Remuneration Policy
The general meeting adopted the Company’s Remuneration Policy.
Any other business
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Following the resolution to distribute a dividend of DKK 8.00 per share with a nominal value of DKK 10.00 under agenda item C, the offer price in the voluntary purchase offer made by APMH Invest A/S on 2 April 2025 will, in accordance with the terms of the voluntary purchase offer, be reduced by DKK 8.00 per share of nominal DKK 10.00.
The expected timetable for distribution of dividend resolved under agenda item C is as follows:
- 11 April 2025: Ex-dividend trading date - 14 April 2025: Dividend record date - 15 April 2025: Dividend payment date
About Svitzer Svitzer is a leading, global towage and marine services provider. The core business is to assist large seaborne vessels in manoeuvring in and out of ports and terminals to berth and unberth. With more than 450 vessels, Svitzer’s services play a crucial role as part of critical port infrastructure. Svitzer was founded in 1833 and serves approximately 2,000 customers in more than 140 ports and 40 terminals across 37 countries. Read more on www.svitzer.com.
For further information, please contact: Michael Nass Nielsen, Head of Investor Relations and FP&A T: +45 24941654 E: ir@svitzer.com
Forward-looking statements This announcement contains certain statements about Svitzer and its business that are or may be forward-looking statements. Forward-looking statements are typically identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “will”, “could”, “should”, “intends”, “estimates”, “plans”, “assumes” or “anticipates” or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Svitzer’s control and all of which are based on Svitzer’s current beliefs and expectations about future events. In addition, from time to time, Svitzer or its representatives have made or may make forward-looking statements orally or in writing. Such forward-looking statements may be included in, but are not limited to, press releases or oral statements made by or with the approval of Svitzer’s authorised executive officers. By their nature, forward-looking statements involve risks and uncertainties beyond Svitzer’s control because they relate to future events and circumstances, including, but not limited to, financial, economic and business conditions, the reduction of demand for towage services, changes in demand for oil and gas, operating hazards, the technological and other developments in the industry the Svitzer Group operates in, the energy transition, the effects of volatility in credit markets, market-related risks such as changes in interest rates and exchange rates, the policies and actions of governmental and regulatory authorities, changes in legislation, the further development of standards and interpretations under International Financial Reporting Standards applicable to past, current and future periods, the outcome of pending and future litigations, the loss of key personnel or similar, the success of future acquisitions and other strategic transactions and the impact of competition. As a result, actual future results may differ materially from the plans, goals, and expectations set forth in these forward-looking statements. Any forward-looking statements made in this announcement speak only as of the date they are made. Svitzer disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in Svitzer’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Unless expressly noted otherwise, all information, statements on intentions (including forward-looking statements as described above) and all other information in this announcement are based on the knowledge or the intentions of Svitzer on the date hereof.
