Press release
April 7, 2017
Nomination Committee of Fingerprint Cards revises proposal concerning director fees
The Nomination Committee of Fingerprint Cards is revising its previously submitted proposal to raise director fees. The Nomination Committee's revised proposal is that both director fees and fees for committee work are to remain unchanged, which would thus entail fixed director fees totaling SEK 4,050,000. The previously submitted proposal amounted to fixed director fees totaling SEK 4,450,000.
"In view of the profit warning and the withdrawal of the dividend motion that the company communicated on March 21, the Nomination Committee considered it necessary to re-examine the original proposal. Against the background of this new information, we have now, in consultation with the Board, concluded that increasing the director fees is not reasonable," says Dimitrij Titov, Chairman of the Nomination Committee.
"Since the official notice was dispatched in parallel with the profit warning, the Nomination Committee had no possibility of immediately revising the proposal," Dimitrij Titov adds.
Nomination Committee's revised proposal:
The Nomination Committee proposes that the Board of Directors be paid fees totaling SEK 4,050,000, of which SEK 850,000 to the Chairman of the Board and SEK 400,000 to each other Board member.
Fees for work on committees will be payable in an amount of SEK 460,000, to be distributed as follows:
Audit Committee: SEK 150,000 to the Chairman and SEK 75,000 to each other member.
Remuneration Committee: SEK 80,000 to the Chairman and SEK 40,000 to each other member.
If tax-related prerequisites for invoicing exist, and on condition that it is cost-neutral for the company, the invoicing of director fees from the member's own company will be permissible. If a Board member invoices his/her director fee via a company, the fee will be increased by an amount corresponding to social security contributions and statutory VAT.
All documentation for the Annual General Meeting is available on Fingerprints' website: https://corporate.fingerprints.com/en/corporate-governance/annual-general-meeting/agm-2017/
The Nomination Comittee's updated proposal including motivated opinion ahead of the 2017 Annual General Meeting has been published at: https://corporate.fingerprints.com/wp-content/uploads/2017/03/The-Nomination-Committee%E2%80%99s-proposals.pdf
For more information, contact:
Dimitrij Titov, Chairman of the Nomination Committee
Telephone: +46 (0)70-864 06 85, dimitrij.titov@fylgia.se
About Fingerprint Cards AB (publ)
Fingerprint Cards AB (FPC) is a high-tech and listed company which develops, produces and markets biometric technology that, through the analysis and matching of an individual's unique fingerprint, verify the person's identity. A secure and convenient user experience is thus made possible, beyond keys and pins. The FPC technology offers world-class advantages and includes unique image quality, extreme robustness, low power consumption and complete biometric systems. With these advantages, in combination with low production costs, the technology may be implemented in large volume products, such as smartphones, tablets and biometric cards where these demands are extremely high. FPC's technology has been tested thoroughly in several fields of application.This is the type of information that Fingerprint Cards is obligated to disclose pursuant to the Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information has been issued for publication through the agency of the contact persons set out above on April 7, 2017, at 10:45 a.m. CET.
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