STOCKHOLM, April 7, 2020 /PRNewswire/ -- Coor's board of directors has today resolved to withdraw its revised proposal on dividend of SEK 2.20 per share and to instead propose that the annual general meeting resolves not to distribute any dividend.
Furthermore, Coor's board of directors has today resolved to withdraw its proposal on a new long-term incentive program for the Coor management for 2020. In connection with this, Coor's nomination committee has announced that it intends to propose unchanged fees for the board of directors for 2020, thus revising its previous proposal.
Coor has a strong financial position and is market-leading within integrated facility management services in the Nordics. In accordance with what Coor announced in the press release on March 19, 2020, Coors expects the economic effects of the coronavirus to have a negative impact on the company's net sales and operating profit, not least in respect of the variable volumes in food and beverages. Coor also notes that it is difficult to assess the consequences in the longer term from the pandemic as well as from the decisions taken in society to mitigate the effects on health and on the economy.
The revised proposals will be published on Coor's website www.coor.com.
The annual general meeting of Coor takes place on April 28, 2020.
This information is such that Coor Service Management Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 CEST on April 7, 2020.
Coor is a leading provider of facility management services in the Nordics, focusing primarily on integrated and complex service undertakings (IFM). Coor offers specialist expertise in workplace services, property services and strategic advisory services for development of customers' service activities. Coor creates value by executing, leading, developing and streamlining its customers' service activities, ensuring that they provide optimal support to the core business over time. This may include, for example, property services, cleaning, restaurant as well as postal and reception services. Coor's customer base includes many large and smaller companies and public-sector organisations across the Nordic region, including ABB, AB Volvo, Aibel, Det Norske Veritas, E.ON, Ericsson, Equinor, ICA, NCC, Politiet (Danish Police), Saab, Sandvik, SAS, Telia Company, Swedish Transport Administration, Vasakronan, Volvo Cars and Volvo Group.
Coor was founded in 1998 and is listed on Nasdaq Stockholm since 2015. Coor takes responsibility for the operations it conducts, in relation to its customers, employees and shareholders, as well as for its wider impact on society and the environment. Read more at www.coor.com
For more information, please contact:
President and CEO, Coor
CFO and IR-director, Coor
Communications Director, Coor
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