(Información remitida por la empresa firmante)
LTI 2023 shall be expensed as personnel costs over the vesting period. Provided that the performance based condition is fully achieved, the cost for LTI 2023 before tax is, in accordance with the principles and assumptions set out above, estimated to approximately SEK 170 million, allocated over the vesting period. Estimated social security costs and financing cost are included in such amount. The costs are expected to have marginal effect on key ratios of the ASSA ABLOY Group.
The Board of Directors deems that the positive effects on earnings that are expected to result from increased share ownership among senior executives and persons in senior managerial positions, which may be further increased through LTI 2023, outweigh the costs related to LTI 2023.
Delivery of shares under LTI 2023
To ensure the delivery of Series B shares under LTI 2023, the company intends to enter into an agreement with a third party, under which the third party shall, in its own name, buy and transfer Series B shares in the company to the participants in accordance with LTI 2023.
Preparation of the proposal
LTI 2023 has been initiated by the Board of Directors of ASSA ABLOY, and has been structured in consultation with external advisers based on an evaluation of previous incentive programs. LTI 2023 has been prepared by the Remuneration Committee and reviewed at meetings of the Board of Directors.
Previous incentive programs
The company’s other share-based incentive programs LTI 2020, LTI 2021 and LTI 2022 are based on the similar principles as LTI 2023. For a description of LTI 2020, LTI 2021 and LTI 2022, reference is made to the Annual Report 2022, Note 35, and the company’s website www.assaabloy.com.
Shares and votes
The total number of shares in the company at the time for the notice to the Annual General Meeting amount to 1,112,576,334 shares, of which 57,525,969 are Series A shares and 1,055,050,365 Series B shares, which is equivalent to a total of 1,630,310,055 votes. ASSA ABLOY AB is holding at the time of the notice to the Annual General Meeting, 1,800,000 own Series B shares, corresponding to 1,800,000 votes that may not be represented at the Annual General Meeting.
Shareholders´ right to right to request information
The Board of Directors and the CEO shall, if any shareholder so requests and the Board of Directors believes that it can be done without material harm to the company, at the Annual General Meeting provide information regarding circumstances that may affect the assessment of an item on the agenda and circumstances that can affect the assessment of the company’s or its subsidiaries’ financial situation and the company’s relation to other companies within the Group and the Group accounts.
Documentation etc.
The Annual Report and the Auditor’s Report, the Board of Directors’ remuneration report and all other supporting documentation for the Annual General Meeting are available at the company and on the company’s website assaabloy.com/general-meeting no later than three weeks before the Annual General Meeting. Further, the Nomination Committee’s complete proposals including motivated statement, are available at the company and on the company’s website assaabloy.com/general-meeting no later than four weeks before the Annual General Meeting.
Copies of the documents will be sent free of charge to shareholders who so request and state their address to the company.
Processing of personal data
For information on how your personal data is processed, see:
https://www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf
This notice is a translation of the Swedish notice and in case of any deviations between the language versions, the Swedish version shall prevail.
Welcome!
Stockholm in March 2023
The Board of Directors
ASSA ABLOY AB (publ)
For more information, please contact:
Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82
Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72
Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68
About ASSA ABLOY
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 52,000 employees and sales of SEK 121 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY’s innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.
[1] The shareholding statistics to be used shall be sorted by voting power (grouped by owners) and include the 25 largest direct registered shareholders in Sweden, i.e. shareholders with an account with Euroclear Sweden AB in their own name or shareholders holding a custody account with a nominee that has reported the identity of the shareholder to Euroclear Sweden AB.
[2] Earnings per share is defined as the company’s earnings per share after tax and dilution, excluding items affecting comparability and currency effects.
The following files are available for download:
View original content:https://www.prnewswire.co.uk/news-releases/notice-of-annual-general-meeting-in-assa-abloy-ab-301778613.html