Notes from the Annual General Meeting of Intrum Justitia

European accounts receivable management company Intrum Justitia AB held its Annual General Meeting (AGM) Thursday in Stockholm, Sweden.

At the meeting, Matts Ekman, Helen Fasth-Gillstedt, Lars Lundquist, Joakim Rubin, Charlotte Strömberg and Fredrik Trägårdh were re-elected as board members. Joakim Westh was elected new board member. Lars Lundquist was re-elected chairman of the board.

The AGM approved a dividend of SEK 4.10 ($0.64) per share, compared to a dividend of SEK 3.75 a year ago, and April 5, 2011 as record date for the dividend.

The Director’s fee was set at SEK 2,550,000 ($400,000) in accordance with the Nomination Committee’s proposal. The fee will be distributed as follows: SEK 750,000 ($117,000) to the Chairman of the Board and SEK 300,000 ($47,000) to each of the other Directors. In addition to that, a total fee of SEK 650,000 shall be distributed for committee work, of which the Chairman of the Audit Comittee shall recieve SEK 150,000 and the remaining two members of the Audit Comittee SEK 75,000 each. The remaining SEK 350,000 shall be distributed among the six members of the remuneration and investment committees.

The AGM approved the board’s proposal principles for renumeration and other terms of employment for the CEO and senior executives. The total remuneration is based upon four main components; base salary,short-term variable salary programmes, long-term variable salary programmes and pension.

The AGM approved the Nomination Comittees proposal that the Nomination Comittee of next year should be appointed by convening the five largest shareholders, based on the holding at the end of August 2011, who may appoint one member each to the Nomination Committee.

The profit and loss statements and balance sheets for 2010 were adopted and the board and the managing director were discharged from liability for the administration of the company during the year 2010.

The AGM approved the board’s proposal regarding a reduction of the share capital as well as authorization for the board to resolve on acquisition of the company’s own shares. The share capital shall be reduced with a maximum of SEK 99,893.02 through cancellation of the company’s own shares. Repurchase of shares shall be made on NASDAQ OMX Stockholm. The company’s holding in its own shares may at any given time not exceed 10 percent of the total number of shares.

A detailed description of the decisions made at the annual general meeting is available on the company’s website.

Intrum Justitia is Europe’s leading Credit Management Services (CMS) group and offers services designed to measurably improve clients’ cash flows and long-term profitability. Intrum Justitia was founded in 1923, has 3,100 employees in 22 countries and revenues of approximately SEK 3.8 billion in 2010. Intrum Justitia AB is listed on NASDAQ OMX Nordic Exchange Stockholm since 2002.