Annual General Meeting

 

Sydbank’s Annual General Meeting was held on Wednesday 14 March 2018 at 3:00pm.

The following was adopted:

  1. The Board of Directors presented the Directors’ Report on the Bank’s activities in 2017. The report was subsequently adopted.
  2. The audited annual report was adopted.
  3. The recommendation of the Board of Directors for the allocation of profit was adopted. Consequently 50% of the Group’s profit will be distributed as dividend, equal to DKK 11.31 per share. Furthermore DKK 10m is donated to Sydbank Fonden.
  4. Ernst & Young PL/S was re-appointed auditor.
  5. The proposal of the Board of Directors to reduce the Bank’s share capital by DKK 26,902,200 to DKK 676,709,540 was adopted.
  6. Sydbank’s Shareholders’ Committee:
    1. 3 new members were elected and 12 members were re-elected to the Shareholders’ Committee, which now counts 67 members.
    2. Susanne Schou, 53, Deputy Chief Executive of Helsam A/S, was elected new member of the Board of Directors.
    3. Peder Damgaard, General Manager and former Principal, will resign from the Bank’s Board of Directors because he has served on the Board of Directors for 12 years, which is the maximum length of service for a member of the Board of Directors according to the Bank’s Articles of Association. Furthermore Margrethe Weber (elected by the employees) and Alex Slot Hansen (elected by the employees) will resign from the Bank’s Board of Directors.
    4. Consequently the Bank’s Board of Directors consists of 7 members elected by the Shareholders’ Committee and 4 members elected by the Bank’s employees.
    5. At the subsequent board meeting the Board of Directors elected Torben Nielsen, former Central Bank Governor, as its chairman and John Lesbo, State Authorised Public Accountant, as its vice-chairman.

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