Precautionary measures at Pandox Aktiebolag (publ) AGM 3 April 2020 and new board fee proposal

Due to the risk of spreading the coronavirus Pandox has decided to undertake precautionary measures at the AGM 3 April 2020. Pandox has also been informed of the nomination committee’s decision to withdraw its previous proposal regarding an increase of fees for the board of directors, and instead propose an unchanged fee level.
 

The AGM is planned to be held as earlier communicated – at Hilton Stockholm Slussen, Guldgränd 8 in Stockholm, 3 April at 10:00 CEST – but with precautionary measures:

  • The meeting is held in a larger room
  • No food or drinks will be offered
  • The meeting will be limited in its entirety in time
  • Registration starts at 09:30 CEST
  • The number of people who are not shareholders will be limited
  • The AGM is intended to be followed via a live webcast on www.pandox.se. However, to be able to vote requires a physical presence or proxy to be present
  • Due to travel restrictions, several board members will not be able to attend
  • Pandox's chairman of the board of the directors will participate per video link
  • The participation of the board of directors and management in general will be limited
  • The CEO's speech and Q&A will be limited in time
  • Shareholders are welcome to send questions to the AGM in advance via ir@pandox.se

Pandox asks shareholders to consider the possibility of voting by proxy. A proxy form is available on the company's website www.pandox.se. Please note that Pandox may not collect proxies and act as proxy. Pandox has been informed that Euroclear Sweden has offered to act as proxy for shareholders who are private persons if desired. For more information on this opportunity, see www.euroclearproxy.se.
 
If necessary, Pandox will update the company's precautionary measures before the AGM and asks everyone who intends to attend the AGM to stay updated via www.pandox.se.

New fee proposal from the nomination committee

Following the board of directors’ of Pandox Aktiebolag (publ) previously announced decision to withdraw the dividend proposal for 2019, Pandox has been informed that the nomination committee has decided to withdraw its previous proposal to the AGM 2020 on increased board fees. The nomination committee now proposes that the AGM 2020 resolves that the current board fees remain unchanged.

The following fees to the board of directors are proposed (2019 fees in brackets):

  • A fee to the chairman of the board of directors of SEK 800,000 (800,000) and, as applicable, a fee to the deputy chairman of the board of SEK 600,000 (600,000), and a fee to other board members elected by the shareholders’ meeting of SEK 400,000 (400,000)
  • A fee of SEK 50,000 (50,000) to each of the two members, the chairman included, of the remuneration committee
  • A fee of SEK 130,000 (130,000) to the chairman of the audit committee and a fee of SEK 70,000 (70,000) to the other two members of the audit committee
  • The proposed board fees, including fees for work in committees, thereby amount to a maximum of SEK 3,370,000 (3,370,000)


FOR MORE INFORMATION, PLEASE CONTACT:

Anders Nissen, CEO, +46 (0) 708 46 02 02
Anders Berg, SVP Head of Communications and IR, +46 (0) 760 95 19 40
Erik Ax, Communications & IR Manager, +46 (0) 707 13 77 06

The information was submitted for publication, through the agency of the contact persons set out above, at 10:00 CET on 25 March 2020.

About Pandox
Pandox is a leading owner of hotel properties in Northern Europe with a focus on sizeable hotels in key leisure and corporate destinations. Pandox’s hotel property portfolio currently comprises 156 hotels with approximately 35,000 hotel rooms in 15 countries. Pandox’s business is organised into Property Management, which comprises hotel properties leased on a long-term basis to market leading hotel operators, and Operator Activities, which comprises hotel operations executed by Pandox in its owner-occupied hotel properties. Pandox was founded in 1995 and the company’s B shares are listed on Nasdaq Stockholm. www.pandox.se