Bifogade filer
Marel AGM 2024 Results Of Voting
Prenumeration
Beskrivning
| Land | Island |
|---|---|
| Lista | Large Cap Iceland |
| Sektor | Industri |
| Industri | Jordbruk |
Marel’s Annual General Meeting was held at the Company’s headquarters and virtually on 20 March 2024 at 16:00 GMT.
All proposals of the Board of Directors to the meeting were approved. The proposals and other relevant materials are available on the AGM website: marel.com/agm. Further information on votes cast at the meeting is attached.
Arnar Thor Masson, Chairman of the Board of Directors, addressed the meeting on behalf of the Board. Arni Sigurdsson, Chief Executive Officer, reported the Company’s 2023 consolidated financial statements and gave an overview of the Company’s business activities.
From Chairman Arnar Thor Masson’s statement:
„Against the backdrop of operational headwinds in 2023, we delivered resilient operational performance in 2023 with revenues of EUR 1.7 billion and an operational margin of 8.9%. To protect and strengthen our business, we have taken decisive actions in the past 18 months to improve operational efficiency and financial performance. The year was also marked change in leadership and two proposals for a potential offer for all shares in Marel received from John Bean Technologies Corporation (JBT) at the end of 2023. Following a third proposal received on 19 January, the Board considered the proposed terms to be attractive and offer an opportunity for Marel shareholders to participate in future value creation. Therefore, the Board supports working with JBT on reciprocal, confirmatory due diligence and the finalization of its formal offer for Marel shares on these terms which is ongoing. At the same time, we continue to have the utmost confidence in Marel’s standalone strategy and remain focused on positioning our business for continued success.“
From CEO Arni Sigurdsson’s report:
„Marel is a great company that I am honored and proud to have led since November 2023. I have worked across our business now for a decade and have seen firsthand the dedication and hard work of our teams around the world in navigating the changing landscape in food processing and delivering for our customers. It is clear that Marel has significant underlying potential, and since becoming CEO I have mapped out three clear priority areas to unlock our potential and deliver improved financial performance centered on our business, our financials and our capital. The long-term growth outlook in our industry remains intact and is led by the growing need for food based on population growth, urbanization and a growing middle class. Our role is to deliver unique solutions, software and services to our customers while also transitioning to a net-zero world.“
The following candidates were re-elected to the Board of Directors:
- Ann Elizabeth Savage
- Arnar Thor Masson
- Astvaldur Johannsson
- Lillie Li Valeur
- Olafur Steinn Gudmundsson
- Svafa Grönfeldt
- Ton van der Laan
The Board of Directors has convened and assigned roles and responsibilities. Arnar Thor Masson will continue to lead the Board as Chairman, and Olafur Gudmundsson as the Vice-Chairman of the Board.
Other proposals
- The annual general meeting confirmed the annual financial statements for the year 2023 and agreed to a dividend of 0.82 euro cents per share to be paid for the operational year 2023. The total dividend payment will be around EUR 6.2 million corresponding to approximately 20% of profits for the year and is in line with Marel’s dividend policy.
- The proposal on the Company’s remuneration policy with certain changes for 2024 was approved.
- Shareholders approved the proposal on remuneration to the members of the Board of Directors for the year 2024 and to the Company’s auditors for the preceding year of operation.
- Proposals to renew authorizations in Articles 15.1 and 15.2 of the Company’s Articles of Association were approved. Article 15.1 authorizes the Board of Directors to increase share capital by up to the amount of ISK 35,000,000 nominal value by issuing shares to use in relation to stock options agreement with employees. The validity period of the authorization is 5 years from the date of its renewal. Article 15.2 authorizes the Board of Directors to increase share capital by up to the amount of ISK 75,000,000 nominal value by issuing new shares, i.a. to use in relation to acquisition of new businesses or strategic investments. The validity period of the authorization is 18 months from the date of its renewal.
- KPMG ehf. was elected as the Company’s auditing firm until the next Annual General Meeting.
- Proposal to renew authorization to the Board of Directors to purchase treasury shares of the Company was approved. The authorization was amended so that it is now limited to a formal share repurchase program or auction process towards all shareholders. The authorization is effective for the next 18 months from approval and earlier authorization shall be withdrawn.
All relevant material, including video recordings of the reports by the Chairman of the Board and the Chief Executive Officer will be archived and made available on marel.com/agm.