SinterCast

Press Release
For Immediate Distribution

[Stockholm, 21 May 2024] – The Annual General Meeting (AGM) of SinterCast Aktiebolag was conducted on 21 May 2024. During the AGM, Dr Steve Dawson, President & CEO, presented an overview of recent market activities and provided an outlook for the potential market development. Dr Dawson reiterated the company’s confidence in double-digit CAGR through 2030 and the ability to grow from the current level of four million Engine Equivalents to seven million within the five-year planning horizon. The recorded presentation will be available on the SinterCast website on or before 24 May.
 
Adoption of the profit and loss statements and balance sheets and decision on dividend
The AGM adopted the profit and loss statements and the balance sheets included in the 2023 annual report and decided on a dividend of SEK 6.10 per share for the financial year 2023, of which SEK 5.50 per share is ordinary dividend and SEK 0.60 per share is extraordinary dividend. The dividend is divided into two equal payments of SEK 3.05 per share with the record date 23 May 2024 for the first payment and the record date 7 November 2024 for the second payment.
 
Board of Directors and Auditor
The AGM granted the Board Members and the Managing Director discharge from liability for the financial year 2023.
 
The AGM resolved that the Board of Directors shall consist of six ordinary Board Members, including the Chairman, and no alternate Board Members. The AGM re-elected Robert Dover, Steve Gill, Anna-Maria Heidmark Green and Steve Dawson as Board Members for the period until the end of the next AGM. Robert Dover was elected as Chairman of the Board. The AGM elected Einar Ahlström and Per Borgklint as new ordinary Board Members for the period until the next Annual General Meeting. The biographies of Mr Ahlström and Mr Borgklint are available on the SinterCast website under “General Meetings (AGM/EGM)”, in the Investor Section. Jun Arimoto, Board Member since 2018, declined re-election and was thanked for his service and contributions. Further, the AGM re-elected the registered auditing company KPMG AB as auditor for the period until the end of the next AGM. Jonas Eriksson will be the principal auditor.
 
Remuneration to the Board Members and the Auditor
The AGM decided that remuneration to the Board Members, for the period until the next AGM, shall be SEK 450,000 for the Chairman and SEK 210,000 each for the other Board Members elected by the General Meeting. No remuneration shall be paid to any Board Member employed by the company.
 
The AGM decided that the auditor shall be paid against approved invoice.
 
Approval of the Remuneration Report 2023
The AGM decided to approve the Board of Director’s Remuneration Report for 2023.
 
Guidelines for remuneration to Senior Executives
The AGM decided to approve guidelines for renumeration to Senior Executives. 
 
Cancellation of repurchased shares
The AGM decided to cancel 22,601 own shares that were held by the company, thus reducing the share capital by SEK 22,601. The AGM simultaneously approved a bonus issue to increase the company’s share capital by SEK 22,601 through a transfer of SEK 22,601 from the company’s unrestricted equity. The bonus issue was approved without the issuance of new shares. Following the reduction of the share capital and the bonus issue, the number of shares is 7,067,532.
 
Authorisation of the Board of Directors to decide upon acquisition and disposal of SinterCast shares
The AGM authorised the Board of Directors to, on one or more occasions prior to the next Annual General Meeting:

- decide upon the acquisition of SinterCast shares. SinterCast may only acquire such number of shares so that the company’s shareholding at any given time does not exceed 10 percent of the total shares in the company. Acquisition of shares may be made on Nasdaq Stockholm at a price within the registered price interval on each occasion,
- decide upon disposal of a maximum of all SinterCast shares held by the company at any given time, on Nasdaq Stockholm or in other ways, for example in connection with the acquisition of a company or business, with or without a deviation from the shareholders’ preferential rights and with or without payment in kind or payment by set-off. Disposal of shares on Nasdaq Stockholm may only be made at a price within the registered price interval on each occasion. Disposal of shares in other ways may be made at a market price estimated by the Board of Directors.

The purpose of the authorisation is for SinterCast to be able to acquire its own shares at any given time so as to adapt the capital structure of the company and to be able to transfer shares in connection with a potential acquisition of a company or business.

Decision on amendment of the articles of association 
The AGM decided to approve the proposed change to the articles of association § 6.

Previous wording § 6 “The Board of Directors shall consist of not less than three (3) and not more than five (5) Ordinary Members and not more than one (1) Alternate.” 

New wording § 6 “The Board of Directors shall consist of not less than three (3) and not more than six (6) Ordinary Members and not more than one (1) Alternate.”

The complete proposals are available on the company’s website, www.sintercast.com

For and on behalf of the Board of Directors:
Dr Steve Dawson
President & CEO
SinterCast AB (publ)
Mobile: +44 771 002 6342
e-mail: steve.dawson@sintercast.com

SinterCast® is the world’s leading supplier of process control technology for the reliable high volume production of Compacted Graphite Iron (CGI). The properties of CGI enable improved transport solutions, increasing efficiency and reducing carbon emissions in passenger vehicle, commercial vehicle and industrial power applications. As a specialist supplier of precision measurement and process control solutions to the metals industry, SinterCast also supplies the SinterCast Ladle Tracker® and SinterCast Cast Tracker® technologies, to improve production efficiency and Industry 4.0 traceability in a variety of applications. With 57 installations in 13 countries, SinterCast is a publicly traded company, quoted on the Small Cap segment of the Nasdaq Stockholm stock exchange (SINT). For more information: www.sintercast.com

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