Other information

Important events during the period

The recent dramatic developments in Ukraine have a key impact on the world around us. In addition to the terrible tragedy for the people the war touches, the situation risks hampering macroeconomic growth in the world. In Sweden this can affect the construction industry through greater uncertainty and cautiousness concerning investments, continued high material and energy prices and material shortages and delivery problems. We follow developments carefully to continually assess any effects on Peab.

Important events after the period

No significant events occurred after the end of the reporting period.

Holdings and repurchase of own shares

At the beginning of 2022 Peab’s own B shareholding was 1,086,984 which corresponds to 0.4 percent of the total number of shares. The Board of Directors of Peab AB has, through the authorization given by the Annual General Meeting on May 5, 2022, decided to repurchase its own shares. The shares will be repurchased, on several occasions, until the AGM 2023. The aim of the repurchasing is to improve the company’s capital structure. The shares will be repurchased on Nasdaq Stockholm according to the Nordic Main Market Rulebook for Issuers of Shares – Nasdaq Stockholm (Supplement D) and EU Parliament’s and Council’s EU regulation nr. 596/2014 on market abuse (MAR). According to the Board’s decision shares may be repurchased during the period for a maximum of SEK 500 million and a number of shares so that the company’s holding of its own shares after the repurchasing does not exceed one tenth of all shares in the company. The shares may only be repurchased at a price per share within the price interval registered at any given time on Nasdaq Stockholm, meaning the interval between the current highest buy price and the lowest sell price published by Nasdaq Stockholm. During the period up to December 31, 2022 7,511,000 shares were repurchased for a total of SEK 500 million. After the repurchase Peab holds 8,597,984 own B shares corresponding to 2.9 percent of the total shares.

Related parties

The character and extent of transactions with related parties is presented in the Annual and Sustainable Report 2021, note 40. For more information about transactions with related parties during the period see business area Project Development, section Property Development. No other new significant transactions have occurred during 2022.

Proposed dividend

The Board has pro­posed a div­i­dend of SEK 4.00 (5.00) per share for 2022. Ex­clud­ing the 8,597,984 shares owned by Peab AB per Feb­ru­ary 3, 2023, which are not en­ti­tled to div­i­dends, the pro­posed div­i­dend is equiv­a­lent to a total div­i­dend dis­tri­b­u­tion of SEK 1,150 mil­lion (1,475). Cal­cu­lat­ed as a share of the Group’s re­port­ed prof­it for the year after tax ac­cord­ing to seg­ment re­port­ing, the pro­posed div­i­dend amounts to 56 per­cent (59). The pro­posed div­i­dend is equiv­a­lent to a di­rect re­turn of 5.6 per­cent based on the clos­ing price on Feb­ru­ary 2, 2023.

Annual General Meeting

The AGM of Peab will be held on May 4, 2023. The form of the AGM will be de­cid­ed by the Board at the lat­est in con­nec­tion with the no­tice to at­tend the AGM.

Nomination Committee

According to the “Principles for the Nomination Committee’s appointment and instructions for the Nomination Committee”, adopted by the Annual General Meeting on May 5, 2022, the Nomination Committee is appointed by the three largest shareholders in terms of votes per the final banking day in September 2022, i.e. September 30, 2022, that want to appoint a member of the Nomination Committee as well as the Chairman of the Board. If one or more of the three largest shareholders decline to appoint a member of the Nomination Committee the Chairman of the Board will offer the next largest shareholder in terms of votes the opportunity to appoint a member of the Nomination Committee and so on until the Nomination Committee consists of three members as well as the Chairman of the Board.

Mats Paulsson, Peabs Vinstandelsstiftelse and Familjen Kamprads stiftelse, which were per September 30, 2022 in terms of votes the third to fifth largest shareholders in Peab, have when asked replied that they do not wish to participate in the Nomination Committee for the Annual General Meeting 2023. State Street Bank and Trust Co, W9, which at this same point in time was the sixth largest shareholder in Peab in terms of votes has not replied to the request. The  seventh largest shareholder in Peab in terms of votes, Handelsbanken Fonder, has agreed to participate in the Nomination Committee.

The Nomination Committee therefore consists of the following members:

  • Anders Sundström, Ekhaga Utveckling AB
  • Ulf Liljedahl, AB Axel Granlund
  • Suzanne Sandler, Handelsbanken Fonder
  • Anders Runevad, Chairman of the Board of Peab AB

The Nomination Committee has appointed Ulf Liljedahl to be Chairman of the Nomination Committee.

Brf Notuddsparken

Västerås