Proposals by the nomination committee for the annual general meeting of Handicare Group AB (publ) Tuesday, 8 May 2018

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1 Proposals by the nomination committee for the annual general meeting of Handicare Group AB (publ) Tuesday, 8 May 2018 This document is provided in accordance with Section 4.1 of the Swedish Code of Corporate Governance (the Code ), and sets forth each proposal made by the nomination committee to the 2018 annual general meeting. The rationale behind these proposals, together with an explanation of the nomination committee s work, can be found in a separate document ( Nomination Committee s Explanatory Statement ) that has been published in connection with the notice of annual general meeting. The below proposals correspond with the numbering set forth in the agenda for the annual general meeting proposed by the board of directors. Election of chairman of the meeting (item 2) The nomination committee proposes that Johan Thiman, lawyer and partner at White & Case LLP, be elected chairman of the annual general meeting. Determination of the number of members and deputy members of the board of directors, and auditors and deputy auditors (item 12) The nomination committee proposes that the board of directors is increased by one member to seven (7) member to be elected by the annual general meeting, with no deputy members. Further the nomination committee proposes that the number of auditors shall be one (1) without deputies. Determination of remuneration to the board of directors and the auditors (item 13) The nomination committee proposes that the members of the board of directors receive the following remuneration for their work including additional remuneration for committee work: Proposed remuneration 2018 (SEK) Remuneration 2017 (SEK) Increase Chairman of the board of directors 450, ,000 - Member of the board of directors 180, ,000 - Chairman of the remuneration committee 50,000 50,000 - Member of the remuneration committee 25,000 25,000 - Chairman of the audit committee 100, ,000 - Member of the audit committee 50,000 50,000 - The fee to the auditors is proposed to be paid in accordance with approved invoices. Election of the members of the board of directors and the chairman of the board of directors and auditors (item 14) The nomination committee proposes that Lars Marcher, Joakim Andreasson, Maria Carell, Johan Ek, Elisabeth Thand Ringqvist and Claes Magnus Åkesson are re-elected. Jonas Arlebäck is nominated as new member of the board of directors. The nomination committee proposes that Lars Marcher is re-elected as chairman of the board of directors. Presentation of all proposed members of the board of directors, along with an evaluation of such proposed member s independence is set forth in Appendix 1. The nomination committee proposes the election of Ernst & Young AB with authorised public accountant Stefan Andersson Berglund as Auditor-in-Charge. 1

2 Resolution regarding adjustments to the instructions for the nomination committee (item 15) The extra ordinary general meeting held 30 August 2017 adopted instructions for the nomination committee of Handicare. The nomination committee proposes that the annual general meeting resolve to adjust the first sentences of items 2.1 and 2.3 in accordance with the following: Current wording 2.1 The nomination committee shall prior to the Annual General Meeting be composed of representatives of the four largest shareholders of the Company in terms of votes, who are registered in the share register maintained by Euroclear Sweden AB as of 31 October each year and the Chairman of the Board of Directors, who shall also convene the nomination committee to its first meeting. 2.3 If a change in the Company's ownership structure occurs after 31 October but before the date which occurs three months ahead of the forthcoming Annual General Meeting, ( ). Proposed wording 2.1 The nomination committee shall prior to the Annual General Meeting be composed of representatives of the four largest shareholders of the Company in terms of votes, who are registered in the share register maintained by Euroclear Sweden AB as of 31 August each year and the Chairman of the Board of Directors, who shall also convene the nomination committee to its first meeting. 2.3 If a change in the Company's ownership structure occurs after 31 August but before the date which occurs three months ahead of the forthcoming Annual General Meeting, ( ). The adjusted proposed instructions for the nomination committee is attached in its entirety, see Appendix 2. Stockholm, April 2018 Handicare Group AB (publ) The nomination committee 2

3 Annual general meeting 2018 Appendix 1 The nomination committees proposed members of the board of directors Re-election Lars Marcher, b 1962 Chairman of the board of directors, chairman of the remuneration committee. Master of Science in Business Administration from Aarhus University and Macquire University of Sydney. Current engagements: CEO, AMBU A/S, chairman of the board of Danish Medico Business and Danish Industry IMU and deputy chairman of Danish American Business Forum. Senior advisor and operating chairman of Nordic Capital Funds. Selection of previous engagements/positions: Chairman in various companies within the Ambu A/S group. Holding in Handicare: shares Joakim Andreasson, b 1982 Member of the audit committee and the remuneration committee. Master of Science in Business Administration from Stockholm School of Economics and Lund University School of Economics and Management. Current engagements: Member of the board of KG Holding AB, Cidron Legion BidCo AB, Cidron Legion MidCo AB, Cidron Legion TopCo AB and Puls Medical Devices AS. Selection of previous engagements/positions: Member of the board of BUFAB AB (publ), Lindorff AB and other companies of the Lindorff group and Indif AB. Holding in Handicare: 0 Maria Carell, b 1973 Member of the audit committee. Master of Social Science in International Business/Business Administration from Linköpings University. Current engagements: CEO and President of Revision Skincare and Goodier Cosmetics. Selection of previous engagements/positions: Member of the board of Meda AB and Akademikliniken AB. CEO of Exeltis USA and Granadea AB. CEO and President of Q-Med, President of Meda US and EVP of Meda North America & South Pacific. Holding in Handicare: shares 3

4 Johan Ek, b 1968 Vice chairman. Master of Science in Business Administration from Hanken School of Economics. Current engagements: Chairman of the board of Aveniro, Saferoad Holding and Sunrise Medical. Member of the board of Acino. Senior advisor and operating chairman of Nordic Capital Funds. Selection of previous engagements/positions: Chairman of the board of Corob, CPS Color and the Handicare group. Member of the board of Ramirent. CEO and President of the Handicare group and the Relacom group. Holding in Handicare: shares Elisabeth Thand Ringqvist, b 1972 Member of the remuneration committee. Master of Science in Business Administration from Stockholm School of Economics. Current engagements: CEO and member of the board of Marsnen AB. Chairman of the board of SVCA, TicWorks Ab and Simplex AB. Member of the board of Docu Nordic Group Holding AB, IP Only Holding AB, Finsk-Svenska Handelskammaren, AmCham Sverige, Swedish Fintech Association, Stiftelsen Fritt Näringsliv and Rättvis Skatteprocess. Selection of previous engagements/positions: CEO of Företagarna and Företagarna Service AB and member of the board of Centrala Försvarsmaktsrådet and Kungliga Tekniska Högskolan. Holding in Handicare: 0 Claes Magnus Åkesson, b 1959 Chairman of the audit committee. Master of Science in Business Administration and Economics from Stockholm School of Economics. Current engagements/positions: CFO of JM AB and member of the board of Concentric AB. Selection of previous engagements/positions: Chairman of the board of some of the companies of the JM group. Holding in Handicare: shares Election Jonas Arlebäck, b 1970 Master of Science in Engineering from Chalmers University of Technology and master of Science in Business Administration from Gothenburg School of Business, Economics and Law. Current engagements/positions: Member of the board of Holta Invest AS, EcoFarma AB and EME Partners AB. Selection of previous engagements/positions: Management consultant at McKinsey & Co and Accenture. CFO of the Handicare Group. Advisor to the Aleris group. Holding in Handicare: shares 4

5 Requirements for independence According to the Code, a majority of the directors of the board elected at the annual general meeting should be independent in relation to the company and the company s executive management, and at least two of those directors who are independent in relation to the company and the company s executive management should also be independent in relation to the company s major shareholders. The nomination committee is of the opinion that the proposed board of directors fulfils the requirements of the Code. Name Nationality Independent from the company and its executive management Re-election Lars Marcher Joakim Andreasson Maria Carell Styrelsechairman and chairman of the remuneration committee Member of the audit committee and the remuneration committee Member of the audit committee DE Yes No SE Yes No SE Yes Yes Johan Ek SE and FI No No Elisabeth Thand Member of the audit SE Yes Yes Ringqvist committee Claes Magnus Chairman of the SE Yes Yes Åkesson audit committee Election Jonas Arlebäck Proposed for SE No No election Independent in relation to the company s major shareholders 5

6 Annual general meeting 2018 Appendix 2 Instruktioner för valberedningen i Handicare Group AB Instructions for the nomination committee in Handicare Group AB Beslutat av stämman i Handicare Group AB (org. nr ) ( Bolaget ) den 8 maj Adopted by the General Meeting of Handicare Group AB (reg. no ) (the Company ) held on 8 May Inledning / Introduction 1.1 Följande principer för valberedningens sammansättning och arbete i Bolaget ska gälla fram till dess att bolagsstämman beslutar annat. The following principles for the composition and work of the nomination committee of the Company shall be in effect until the General Meeting resolves otherwise. Valberedningens sammansättning / The composition of the nomination committee 2.1 Valberedningen ska inför årsstämma utgöras av representanter för de fyra röstmässigt största ägarregistrerade aktieägarna i Bolaget i den av Euroclear Sweden AB förda aktieboken den 31 augusti varje år samt styrelsens ordförande, som även ska sammankalla valberedningen till dess första sammanträde. Om någon av de fyra röstmässigt största ägarregistrerade aktieägarna i Bolaget inte utövar rätten att utse en ledamot övergår rätten att utse sådan ledamot till den till röstetalet närmast följande största ägarregistrerade aktieägare som inte redan har rätt att utse en ledamot av valberedningen. Valberedningens ordförande ska vara den ledamot som representerar den till röstetalet största aktieägaren, om inte ledamöterna enas om annat. The nomination committee shall prior to the Annual General Meeting be composed of representatives of the four largest shareholders of the Company in terms of votes, who are registered in the share register maintained by Euroclear Sweden AB as of 31 August each year and the Chairman of the Board of Directors, who shall also convene the nomination committee to its first meeting. If any of the four largest shareholders in terms of votes, who are registered in the share register, does not exercise the right to appoint a member, the right to appoint a member shall pass to the next shareholder in line that does not already have the right to appoint a member of the nomination committee. The Chairman of the nomination committee shall be the member who represents the largest shareholder in terms of votes, unless the members agree otherwise. 6

7 2.2 Namnen på valberedningens ledamöter ska offentliggöras på Bolagets webbplats så snart valberedningen utsetts, dock normalt sett senast sex månader före kommande årsstämma. Valberedningen utses för en mandattid från den tidpunkt då dess sammansättning offentliggörs fram till dess att en ny valberedning utsetts. The names of the members of the nomination committee shall be published on the Company s website as soon as the nomination committee has been appointed, normally no later than six months prior to the forthcoming Annual General Meeting. The nomination committee is appointed for a term of office that starts when its composition is announced and ends when the composition of a new nomination committee is announced. 2.3 Om förändring sker i Bolagets ägarstruktur efter den 31 augusti men före det datum som infaller tre månader före kommande årsstämma, och om aktieägare som efter denna förändring kommit att utgöra en av de fyra röstmässigt största ägarregistrerade aktieägarna i Bolaget framställer önskemål till valberedningens ordförande om att ingå i valberedningen ska denna aktieägare ha rätt att, enligt valberedningens bestämmande, antingen utse en ytterligare ledamot av valberedningen eller en ledamot som ska ersätta den ledamot som utsetts av den aktieägare som efter ägarförändringen inte längre tillhör de fyra röstmässigt största aktieägarna i Bolaget. If a change in the Company's ownership structure occurs after 31 August but before the date which occurs three months ahead of the forthcoming Annual General Meeting, and if a shareholder that after this change has become one of the four largest shareholders in terms votes, who are registered in the share register of the Company, makes a request to the Chairman of the nomination committee to be part of the nomination committee, the shareholder shall have the right, in the discretion of the nomination committee, either to appoint an additional member of the nomination committee or to appoint a member who has been appointed by the shareholder who, after the change in the ownership structure, is no longer among the four largest shareholders in the Company in terms of votes. 2.4 Om ledamot lämnar valberedningen innan dess arbete är slutfört eller om ledamot är förhindrad att fullfölja sitt uppdrag och valberedningen finner det önskvärt att ersättare utses ska valberedningen uppmana den aktieägare som utsett ledamoten att inom skälig tid utse ny ledamot, eller om denne inte längre tillhör de röstmässigt största aktieägarna uppmana den aktieägare som storleksmässigt står näst i tur, som inte redan utsett eller avstått från att utse ledamot av valberedningen, att utse ny ledamot. Förändringar i valberedningens sammansättning ska offentliggöras så snart sådana skett. If a member leaves the nomination committee before its work is completed, or if a member is unable to fulfill his/her duties and the nomination committee finds it desirable to appoint a substituting member, the nomination committee shall invite the shareholder that appointed such member to appoint a new member within reasonable time, or, if such shareholder is no longer one of the largest shareholders in terms of votes, request that the next shareholder in line that have not already appointed or refrained from appointing a member of the nomination committee, appoints a new member. Changes to the composition of the nomination committee shall be announced as soon as they occur. Valberedningens uppgifter / The nomination committee s duties 3.1 Valberedningen ska utföra sitt uppdrag i enlighet med denna instruktion och tillämpliga regler. I uppdraget ingår bland annat att lämna förslag till: ordförande vid årsstämma; antal bolagsstämmovalda ledamöter i styrelsen; 7

8 ordförande och övriga bolagsstämmovalda ledamöter i styrelsen; arvode till styrelsen, med uppdelning mellan ordförande och övriga ledamöter i styrelsen samt eventuell ersättning för utskottsarbete; i förekommande fall, val av revisor; arvode till revisor; och eventuella förändringar i instruktionen för valberedningen. The nomination committee shall perform its assignments in accordance with this instruction and applicable rules. The assignments include, among other things, to present proposals regarding: Chairman of the Annual General Meeting; number of Board members to be appointed by the General Meeting; Chairman of the Board and other Board members to be appointed by the General Meeting; remuneration to the Board, with a division between the Chairman of the Board and the other members of the Board as well as remuneration for committee work, if any; election of auditors, where applicable; remuneration to auditors; and changes to the instruction for the nomination committee, if any. 3.2 Vid extra bolagsstämma ska valberedningens förslag omfatta det eller de val som ska förekomma vid stämman, i relevanta fall. In the event of an Extraordinary General Meeting, the nomination committee's proposals shall concern the elections to take place at the Meeting, where relevant. 3.3 Valberedningens förslag ska presenteras i kallelsen till bolagsstämma där styrelse eller revisorsval ska äga rum samt på Bolagets webbplats. I anslutning till kallelsen ska valberedningen på Bolagets webbplats lämna ett motiverat yttrande beträffande sitt förslag till styrelsemedlemmar i enlighet med vad som föreskrivs i Svensk kod för bolagsstyrning. Yttrandet ska även innehålla en kort redogörelse för hur valberedningens arbete har bedrivits. The nomination committee s proposals shall be presented in the notice to the General Meeting where election of Board members or auditors will take place and shall also be presented on the Company s website. In connection to the notice, the nomination committee shall also provide a justified opinion on the company s website regarding its proposal on Board members, pursuant to the requirements of the Swedish Corporate Governance Code. The opinion shall also contain a short description of how the work of the nomination committee has been conducted. 3.4 Minst en ledamot av valberedningen ska alltid närvara på årsstämman och presentera skälen för valberedningens förslag. At least one member of the nomination committee shall always attend the Annual General Meeting and present the reasons for the nomination committee s proposals. 8

9 Ersättning till valberedningen / Remuneration to the nomination committee 4.1 Inget arvode ska utgå till valberedningens ledamöter. Bolaget ska dock svara för skäliga kostnader rimligen förenade med valberedningens uppdrag. No remuneration is to be paid to members of the nomination committee. The Company shall however defray all reasonable expenses that are required for the work of the nomination committee. 9