Annual General Meeting
Sydbank's Annual General Meeting was held on Thursday 10 March 2011 at 3pm.
The following was adopted/resolved by the necessary majority:
- The Board of Directors presented the Directors' Report on the Bank's activities in 2010. The report was subsequently adopted.
- The audited annual report was adopted.
- The Board of Directors' recommendation for the allocation of profit was adopted. As a result dividend of DKK 1 will be distributed per share at a nominal value of DKK 10.
- The recommendation of the Board of Directors regarding the Bank's remuneration policy for the Boards of Directors, the Group Executive Management and other employees whose activities have a significant impact on the Bank's risk profile was adopted.
- The AGM resolved that at present Sydbank will not decide whether it would make use of the winding-up scheme under the Danish Act on Financial Stability if the Bank were to become distressed.
- The AGM adopted the proposed amendments submitted by the Board of Directors to Article 8 (2) (authority to the Board of Directors to allow the Bank to acquire own shares) and Article 9 (2) (the possibility for shareholders to vote by postal vote).
- The AGM renewed the authority to allow the Board of Directors to acquire own shares.
- Seven new members were elected and 11 members were re-elected to the Shareholders’ Committee, which now counts 63 members.
- KPMG Statsautoriseret Revisionspartnerselskab was re-appointed auditor.
Sydbank's Shareholders' Committee and Board of Directors
At a Shareholders' Committee meeting which took place immediately after the AGM, Claus Christensen, Ålborg, and Erik Bank Lauridsen, Esbjerg, were elected new members of the Bank's Board of Directors.
The Board of Directors elected its Chairman, Anders Thoustrup, General Manager, and its Vice-Chairman, Hanni Toosbuy Kasprzak.