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The Board of Directors of Axfood has decided to withdraw a proposal ahead of the Annual General Meeting on 20 March regarding an amendment to the Articles of Association that would allow the Board to decide on a digital general meeting.
On 13 February, the notice to Axfood's Annual General Meeting, to be held on 20 March 2024 in Stockholm, was published. In the notice, the Board of Directors proposed an amendment to § 9 of the Articles of Association that would allow the Board to decide that a general meeting should be held digitally.
The Board's intention with the proposal was not that Axfood's general meetings should transition to being digital only. The ambition was rather to, without risk of contestation, enable the Board to act responsibly in exceptional situations where it would be inappropriate to hold a physical general meeting. Axfood, who firmly believes in the physical meeting, has traditionally held physical general meetings and intends to continue to uphold this tradition also going forward.
- After publication of the notice to the Annual General Meeting, it has become clear that certain shareholders interpret the proposal as if our view on physical general meetings has changed. That is not the case, however out of respect for the shareholder dialogue, the Board has decided to withdraw the proposal, says Chairman of the Board Mia Brunell Livfors.
For further information, please contact:
Alexander Bergendorf, Head of Investor Relations, Axfood AB, tel +46 73 049 18 44