Strong orders received but lower profit due to break-even result in NCC Property Development
Pursuant to its mandate from the Annual General Meeting held on April 11, 2018, the Board of Directors of NCC AB (publ) has decided to repurchase and sell the company’s own Series B shares.
NCC is applying IFRS 15 as of January 1, 2018 and is hereby publishing comparative figures for 2017 according to IFRS 15.
At today’s Annual General Meeting (AGM) of shareholders in NCC, the shareholders passed resolutions concerning dividend payment, election of the Board of Directors and director fees, election of auditor, guidelines for remuneration of senior executives and a long-term performance-based incentive program. Resolutions regarding the purchase and transfer of own shares were also passed.
In accordance with NCC’s Articles of Association, owners of Series A shares are entitled to request that their shares be converted to Series B shares. As a result of such conversion, the total number of voting rights in the company is reduced. In connection with conversion, the company is obligated, pursuant to the Swedish Financial Instruments Trading Act (1991:980), to disclose details of the change in this manner.