Annual General Meeting held in Ericsson Nikola Tesla Joint Stock Company

The Annual General Meeting of Ericsson Nikola Tesla Joint Stock Company was held in the Company premises, Krapinska 45, Zagreb, on Tuesday, May 31,2016. The equity capital represented at the AGM was HRK 89,430,800, which corresponds to 67.32% of the total Company's equity, thus satisfying the legal conditions for the AGM to make valid decisions. In the presence of a notary public, the AGM proceedings were conducted by Snježana Bahtijari, the AGM chairperson appointed by the Supervisory Board.

The AGM proceedings were followed by the attending shareholders and the members of the Company’s management as well as the Supervisory Board representatives: Roland Nordgren, the chairman, and the Board members Ignac Lovrek, Vidar Mohammar, Dubravko Radošević, and Zvonimir Jelić. The major individual shareholder, LM Ericsson, was represented by Tomas Malm.

The President of Ericsson Nikola Tesla, Gordana Kovačević, presented the Company’s 2015 business results, as well as the strategy, outlook and achievements in 2016. Patrik Wahlgren, Finance Director, presented the Company’s financial results and key financial indicators for 2015. The positive findings of the PricewaterhouseCoopers audit report were referred by Slaven Kartelo, representative of the auditor, whereas Zvonimir Jelić, a member and an employee representative in the Supervisory Board, read the Supervisory Board’s Report for 2015.

In accordance with the announced Agenda, AGM adopted the following decisions:

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The Report of the Supervisory Board on the Performed Supervision in 2015 is approved.

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The Company will pay its shareholders a regular dividend of HRK 20 per share and an extraordinary dividend of HRK 80 per share, i.e. a total of HRK 100 per share from retained earnings from year 2014, other reserves (except allocated reserves for treasury shares) and a part of the net income realized in the financial year 2015.
The dividend payment shall be effected on June 17, 2016 to all the Company shareholders who have the Company shares registered on their securities accounts in the Central Depository & Clearing Company on June 6, 2015. Ex-date is June 3, 2016.
The Company’s net income for the financial year 2015, amounting to HRK 89,640,412.24 will be allocated for dividend payment in the amount lacking after the use of unallocated retained earnings and the rest will go to retained earnings.

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A discharge from liability is given to the Managing Director, Gordana Kovačević, in relation to the exercise of her duties in 2015.

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A discharge from liability is given to the members of the Supervisory Board and its Chairman in relation to the exercise of their duties in 2015.

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Article 37 of the Statute is changed and read: “Company’s data and announcements, for which it is stipulated by the law or envisaged by this Statute, is published on intranet page, where Court Register is located and on Company’s intranet pages.

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As his mandate expires, Klas Ronald Nordgren, Vice President and Corporate Officer for Sales and Marketing, VAT No. 91050806102, Lindvägen 24 A, S-18735 Täby, Sweden, is re-elected as a member of the Supervisory Board for another term in office.

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PricewaterhouseCoopers d.o.o., Zagreb, Ulica kneza Ljudevita Posavskog 31, is appointed as the Company auditors for 2016.
 
Communications Ericsson Nikola Tesla