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2017-04-26 18:07 CEST
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Results of the Annual General Meeting in Scandinavian Tobacco Group A/S

COMPANY ANNOUNCEMENT
No. 12/2017

                                                                                                                                  Copenhagen, 26 April 2017

Results of the Annual General Meeting in Scandinavian Tobacco Group A/S

Scandinavian Tobacco Group A/S (the "Company") held its Annual General Meeting today. The outcome of the General Meeting was as follows:
      
 1. Adoption of the audited annual report

 The audited annual report was adopted by the General Meeting.
               
2. Appropriation of profit or loss as recorded in the adopted annual report

The General Meeting approved the Board of Directors' proposal that for the financial year 2016 the Company pays a dividend of DKK 5.50 per share of DKK 1.

 3. Adoption of the remuneration of the Board of Directors and any Board committees

The General Meeting approved the Board of Directors' proposal for compensation to the Board of Directors for the financial year 2017 as follows:

  • Ordinary members of the Board of Directors are paid a base annual fee of DKK 400,000
  • The Chairman receives three times the base annual fee
  • The Vice-chairman receives 1.75 times the base annual fee
  • The chairman of the Audit Committee receives a fee corresponding to 75 percent of the base annual fee
  • Other members of the Audit Committee receive a fee corresponding to 37.5 percent of the base annual fee
  • The chairman of each of the Remuneration Committee and Nomination Committee receive a fee corresponding to 25 percent of the base annual fee
  • The members of each of the Remuneration Committee and Nomination Committee receive a fee corresponding to 12.5 percent of the base annual fee

The fees for the chairmen and members of the committees are in addition to their fee as chairman, vice-chairman or member of the Board of Directors.


4. Election of members to the Board of Directors

The general meeting re-elected Nigel Northridge, Søren Bjerre-Nielsen, Dianne Neal Blixt, Conny Karlsson, Luc Missorten and Henning Kruse Petersen and elected Henrik Brandt as members of the Board of Directors. 

5. Election of auditor(s)

PricewaterhouseCoopers Statsautoriseret Revisionspartnerskab was re-elected as auditor of the Company.
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The Board of Directors has appointed Nigel Northridge as Chairman of the Board of Directors and Henrik Brandt as Vice-chairman.

Members of the Audit Committee are Søren Bjerre-Nielsen (chairman), Dianne Blixt and Luc Missorten. Members of the Nomination and Remuneration Committees are Nigel Northridge (chairman), Henrik Brandt, Conny Karlsson and Søren Bjerre-Nielsen.

For further information, please contact:

For media enquiries:
Kaspar Bach Habersaat, Director of Group Communications, phone: +45 7220 7152
or kaspar.bach@st-group.com.

For investor enquiries:
Torben Sand, Head of Investor Relations, phone: +45 7220 7126 or torben.sand@st-group.com.

About Scandinavian Tobacco Group

Scandinavian Tobacco Group A/S with its subsidiaries (the "Group") is a world leading producer of cigars and traditional pipe tobacco. The Group also produces fine-cut tobacco and sells tobacco-related accessories. The Group produces and sells 3 billion cigars and 5,000 tonnes of pipe and fine-cut tobacco annually. Scandinavian Tobacco Group believes it is the only company globally with a core strategic focus on production and distribution in all of these tobacco categories.

Scandinavian Tobacco Group holds market-leading positions in the machine-made cigar market in Europe, the handmade cigar market in the US, the online and catalogue retail sales of cigars in the US, the traditional pipe tobacco market globally and in selected fine-cut tobacco markets.

Scandinavian Tobacco Group has a diversified portfolio of more than 200 brands providing a complementary range of established global brands and local champions.  In the cigar segment, the brand portfolio comprises Café Crème, La Paz, Macanudo, CAO, Partagas (US) and Cohiba (US). Pipe tobacco brands include Captain Black, Erinmore, Borkum Riff and W.Ø. Larsen, while leading fine-cut tobacco brands include Bugler, Break, Escort, Bali Shag and Tiedemanns.

As at 31 December 2015, the Group employed approx. 8,100 people in the Dominican Republic, Honduras, Nicaragua, Indonesia, Europe, New Zealand, Australia, Canada and the US.

For more information please visit www.st-group.com.

HUG#2098408