Carl Lamm AB (STO:CLAM):
Dividend distribution: The general meeting resolved, as proposed by the board of directors, that no dividend shall be paid for the financial year 2007 due to the ongoing review of the capital structure and that the distributable profits at the annual general meetings disposal amounting to SEK 55,716,762 shall be carried forward.
Fees to the directors of the board and to the auditor: The general meeting resolved, as proposed by the nomination committee, on unaltered fees to the directors which entails that the chairman of the board shall be paid SEK 300,000 and that the other directors, which are not employed by the company, shall be paid SEK 200,000. Fees to the auditor were resolved, as proposed by the nomination committee, to be paid according to approved invoices.
Election of board and auditor: The general meeting resolved, as proposed by the nomination committee, to re-elect Theodor Dalenson as chairman of the board and David E. Marcus, Conny Karlsson, Niklas Flyborg and Johan Hessius as directors of the board. Further, Marcus Soderblom (former deputy director) was elected director of the board.
The general meeting also resolved, as proposed by the nomination committee, to re-elect the authorised accounting firm Ernst & Young AB as auditor of the company (with Per Hedstrom as principal auditor) for a term until the end of the annual general meeting 2012.
Appointment of the Nomination Committee: The general meeting resolved, as proposed by the board of directors, on appointment of a nomination committee, to instruct the chairman of the board to contact the three largest shareholders per 31 August 2008, who each will appoint one representative (if possible the representatives should not be members of the board of directors). The representatives should jointly with the chairman form the nomination committee for the period until the next annual general meeting's appointment of a nomination committee. The nomination committee elects a chairman within its members and the chairman of the board of directors can not be elected chairman of the nomination committee. The composition of the nomination committee shall be publicly announced no later than six months before the annual general meeting of 2009. The members of the nomination committee are not entitled to fees for their work.
Remuneration principles for the executive officers: The general meeting resolved, as proposed by the board of directors on remuneration principles for the executive officers, that remuneration and other employment benefits for the managing director and the other executive officers shall consist of fixed salary, short term variable remuneration, pension benefits and other benefits and termination benefits. The total remuneration shall correspond to the prevailing market conditions and be competitive and shall correspond to the respective individual's responsibility and authority. The variable remuneration consists of a short term component and a long term component. The short term component shall not exceed 70 percent of the fixed salary and shall be based on the accomplishment of the goals of the company: growth, operating margin and working capital. The short term variable remuneration shall be paid quarterly. The long term component consists of an employee incentive option program. The basic pension benefit consists of the so called ITP plan. In addition to the plan, a premium based pension benefit shall be paid to the managing director and other executive officers consisting of a defined fixed pension fee, with a premium at a maximum of 35 percent of the pensionable salary. The managing director and the company have a mutual six month's notice period. In case the managing director is dismissed, he or she is entitled to a redundancy payment totalling 12 months salary. The redundancy payment shall be settled against other income. In case the managing director terminates his or her employment, no redundancy payment shall be made. The other executive officers have a mutual notice period of 6 months.
Extract from Hans Johansson's, President and CEO, speech at the annual general meeting: "As we have indicated earlier, we have seen a weak volume development during the first quarter. This has been compensated by improved margins which most likely will lead to an operating result for the first quarter which to a great extent is in accordance with our plan. It looks like the volume development could be improved already during the second quarter, and at the same time it is our expectation that the margins will continue to develop positively. Our general assessment is that our position on the market has and will be strengthened during this year."
Information about Carl Lamm AB: Carl Lamm AB operates in the document and information management industry and has a nationwide organization with operations in 25 strategic locations in Sweden, offering solutions for customers' IT environments. Carl Lamm is the exclusive Swedish distributor for Ricoh products, Philips voice management products, Francotyp-Postalia postage meter systems and Samsung multifunctional products. Furthermore, the company is a HP Preferred Partner and a Microsoft Gold Partner. Carl Lamm is listed on the OMX Nordic Exchange.
Address: Carl Lamm AB, Rontgenvagen 3, Box 1536, 171 29 Solna The company has its registered office in Solna, Sweden
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Contacts:
Hans Johansson, President and CEO
+46 8 734 18 47
or
Lise-Lotte
Carlsson, Chief Financial Officer
+46 8 734 18 80
