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Decisions at the annual general meeting on April 16, 2010
Brussels, Belgium | April 16, 2010
The Annual General Meeting of Rezidor Hotel Group AB was held Friday, April 16, 2010 in Stockholm. During the meeting, the following decisions were taken:
Dividend: It was decided that no dividend will be paid for the year 2009 and that the distributable funds are brought forward.
Board of Directors: The following members were re-elected: Urban Jansson (also re-elected as Chairman), Hubert Joly, G%uFFFDte Dahlin, Trudy Rautio, Barry Wilson and Benny Zakrisson. Wendy Nelson was elected to the Board of Directors.
Share based long term incentive programme: A partly revised long-term, performance-based incentive programme for 2010 will be implemented. It will comprise no more than 30 senior executives within Rezidor. The term of the programme will be 3 years, and the programme will in total comprise no more than 1,490,000 shares. The financial targets, and thus the allotment of Performance Shares, will be based 75% on the company's TSR out of which 75% is relative to a comparator group of 11 publicly traded international hotel companies and 25% is related to OMX 30 Index. 25% of the financial targets is based on the company's cumulative EPS during 2010 to 2012. They also include a minimum level which must be achieved in order for any allotment to occur at all, as well as a maximum level in excess of which no additional allotment will occur. Complete details on the programme can be found at rezidor.com.
Share buy-back: The Board of Directors was authorised until the AGM 2011 to decide on acquisitions of the company's shares on Nasdaq OMX Stockholm. Shares may be acquired to the extent that the company's holding of its own shares following the acquisition at the most reaches one-tenth of all shares in the company.
Minutes from the Annual General Meeting will be published on www.rezidor.com where also more detailed information about the contents of the decisions based on the Board's proposal can be found.
For further information, please contact:
Senior Vice President and General Counsel and Secretary to the Board
The Rezidor Hotel Group
Tel: 32 2 702 93 08
About the Rezidor Hotel Group:
The Rezidor Hotel Group is one of the fastest growing hotel companies in the world. The group features a portfolio of more than 385 hotels in operation and under development with 83,100 rooms in over 60 countries. Rezidor operates the brands Radisson Blu Hotels & Resorts, Regent Hotels & Resorts, Park Inn and Country Inns & Suites in Europe, Middle East and Africa, along with the goldpoints plusSM loyalty programme for frequent hotel guests. Rezidor has signed a worldwide license agreement with the Italian fashion house Missoni, in order to develop and operate a lifestyle hotel brand of the same name: Hotel Missoni. In November 2006, Rezidor was listed on the Stockholm Stock Exchange. Carlson Companies is the main shareholder. The Corporate Office of the Rezidor Hotel Group is based in Brussels, Belgium.