STIM's Board discharged from liability

After the CEO had presented the administration report, the two external auditors found nothing to oppose or question, being of the opinion that the Board should be discharged from liability for the financial year. The auditors' report was approved by a voice vote. The Chair asked the Annual General Meeting whether it could (by voice vote) grant all members of the Board of Directors and the Chief Executive Officer discharge from liability. Following differences of opinion, one member requested a closed ballot. During this, some members voted in order to reject the request to discharge one or several of the Board and/or the CEO (present, former and/or acting) from liability. All members of the Board and the CEOs were however granted discharge from liability.

Under the Swedish Economic Associations Act, a majority of those entitled to vote at the general meeting must vote against discharge from liability for it not to be granted. On the other hand, if ten percent of all members entitled to vote in the association (487) vote against discharge from liability for certain named members or chief executive officers, a claim for damages is raised against them for the damages the association is considered to have suffered. This is the case even if discharge from liability has been granted.

In spite of this, the votes for rejection submitted in the closed ballot (ranging 2 to 14 votes against a total of 90 present voters and 487 members entitled to vote) are taken seriously as a sign of discontent, and STIM's Board and administration will initiate a dialog with the members to investigate the circumstances behind the results of the vote.

If you have any questions about the Annual General Meeting and the minutes, please contact Communications Director Karin Jihde by telephone at +46 (0)707-32 18 88.