The nominating committee has been appointed in consultation with the five largest shareholders or shareholder groups by voting rights – who have expressed a desire to appoint a member to the nominating committee – according to shareholder data from Euroclear Sweden as per December 2, 2020 and other reliable shareholder information in accordance with the decision by the AGM.
Chairman of the nominating committee is Peter Lindell, appointed by Cidro Förvaltning AB. The other members are Philip Gao, who represents his own and related parties’ shareholdings, Sven Lindström, who is appointed by founders and shareholders who are employees of Midsummer, Jan Lombach, Chairman of the Board, who represents his own shareholdings, and Oskar Börjesson, appointed by Skandia fonder. Midsummer’s CEO Sven Lindström being a member of the nominating committee is a deviation from the Swedish Corporate Governance Code. According to the Corporate Governance Code, the CEO should normally not be a member of the nominating committee. The reason for Midsummer deviating from the code in this respect, is that the company has changed its business model and that this necessitates new competencies into the Board. It is therefore important that the CEO is deeply involved in this year’s nominating committee. In addition, Sven Lindström represents the third largest shareholder group in the company.
The nominating committee has been appointed somewhat later than what follows from the Swedish Corporate Governance Code and the company’s rules for the appointment of the nominating committee. It was concluded more appropriate to await the outcome of the recent share issues and consequent changes in the company’s ownership structure so that a nominating committee representing the current ownership structure could be appointed. The decision to wait with the appointment of the new nominating committee was made in consultation with the previous nominating committee.
The task of the nominating committee is to produce and present suggestions for the annual general meeting in 2021 regarding the Chairman of the AGM, election of the Board, the Chairman of the Board, decision on Board fees divided between the Chairman and other Members of the Board, fees for committee work, election of accountants and decision on fees to the accountants, and where applicable, suggest revisions of the principles of how the nominating committee is appointed.
Shareholders who wish to leave suggestions to the nominating committee can do this in writing to:
Midsummer AB (publ)
175 43 Järfälla
or via email to: email@example.com
In order for the nominating committee to be able to process proposals in a constructive manner, they should be submitted to the committee no later than February 28, 2021.
The proposals by the nominating committee is intended to be presented in the notice for the AGM and on the company’s web site in connection therewith.
For further information, please contact:
Head of Communications, Midsummer
Phone: +46 76 789 77 78
Midsummer develops and markets solar panels directly to end customers from its own production. With the products Midsummer SLIM, Midsummer WAVE and Midsummer BOLD he customers get light, thin and discreet solar panels that result in aesthetically pleasing solar roofs with a 90 % smaller carbon footprint compared to conventional solar panels.
Midsummer is also a leading developer and supplier of advanced solar energy technology solutions for the production and installation of thin film solar panels. Its business offering includes equipment for cost-effective manufacturing of thin film solar cells as well as building-integrated photovoltaic (BIPV) solutions. Midsummer’s DUO system has taken the position as the most widespread manufacturing tool for flexible CIGS solar cells in the world.
Midsummer’s technology is based on a rapid process for the production of durable, flexible CIGS solar cells using sputtering of all layers of the solar cell in a sealed vacuum chain. The Company’s share (MIDS) is traded on Nasdaq First North Premier Growth Market with G & W Fondkommission as Certified Adviser, phone: +46 (0)8-503 000 50, email: firstname.lastname@example.org. For more information, please visit: midsummer.se