Ericsson's Annual General Meeting 2013

Tue Apr 9, 2013 1:01pm EDT

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  STOCKHOLM, SWEDEN, Apr 09 (Marketwired) -- 
Telefonaktiebolaget LM Ericsson's Annual General Meeting ("AGM") was held
on April 9, 2013 in Stockholm.

    Dividend

    The proposed dividend of SEK 2.75 per share was approved by the AGM. The
record day for dividend was set to Friday, April 12, 2013. Payment from
Euroclear Sweden AB is expected to take place on Wednesday, April 17,
2013.

    Adoption of the Profit and Loss Statements and the Balance Sheets

    The AGM resolved to adopt the Profit and Loss Statement and the Balance
Sheet for the Parent Company as well as the Consolidated Profit and Loss
Statement and the Consolidated Balance Sheet for the Group for 2012. The
members of the Board of Directors and the President were discharged from
liability for the fiscal year 2012.

    Board of Directors

    In accordance with the proposal of the Nomination Committee, Leif
Johansson was reelected Chairman of the Board of Directors. Roxanne S.
Austin, Sir Peter L. Bonfield, Boerje Ekholm, Alexander Izosimov, Ulf J.
Johansson, Sverker Martin-Loef, Hans Vestberg and Jacob Wallenberg were
re-elected to the Board and Nora Denzel, Kristin Skogen Lund and Paer
Oestberg were elected new members of the Board of Directors.

    Board of Directors' Fees

    The AGM resolved, in accordance with the Nomination Committee's proposal,
on a yearly fee to the Chairman of the Board of SEK 3,850,000 (previously
SEK 3,750,000), and fees to non-employed members of the Board, elected by
the AGM, of SEK 900,000 each (previously SEK 875,000 each). Fees for
Committee work to non-employed members of the Committees, elected by the
AGM, were approved as follows (unchanged); SEK 350,000 to the Chairman of
the Audit Committee and SEK 250,000 to each of the other members of the
Audit Committee, SEK 200,000 to each of the Chairmen of the Finance and
Remuneration Committee and SEK 175,000 to each of the other members of
the Finance and Remuneration Committee.

    The AGM approved the Nomination Committee's proposal to enable payment of
part of the fees to the members of the Board for the Board assignment, in
the form of synthetic shares.

    Auditor

    The AGM elected PricewaterhouseCoopers AB auditor for the period up until
the end of the AGM 2014.

    Guidelines for Remuneration to Group Management

    In accordance with the Board of Directors' proposal, the AGM resolved to
approve the Guidelines for remuneration to Group Management.

    Long-Term Variable Remuneration Program (LTV)

    In accordance with the Board of Directors' proposals, the AGM resolved as
follows:

    LTV 2013 and transfer of treasury stock

     * Implementation of LTV 2013, with the same structure as previous
programs.  The program comprises in total up to 32.2 million B shares and
includes the  Stock Purchase Plan for all employees, the Key Contributor
Retention Plan  and the Executive Performance Stock Plan. All plans are
based on the  employees' own investment in Ericsson shares. If the shares
are retained for  a period of three years and the employment remains, the
participants obtain  matching shares from the company. The following
performance criteria were  resolved for the Executive Performance Stock
Plan 2013; net sales compound  annual growth rate between 2 and 8 percent
(2012-2015), operating income  compound annual growth rate between 5 and
15 percent (2012- 2015), and cash  conversion at or above 70 percent
annually (2013, 2014 and 2015).

     * Transfer of up to 26.6 million B shares during the period November 2013
up  to and including November 2017, free of consideration, to employees
covered  by the terms of the LTV 2013.

     * Transfer of up to 5.6 million B shares on NASDAQ OMX Stockholm, prior
to the  AGM 2014, at a price within the at each time prevailing price
interval for  the share, to cover certain expenses, mainly social
security charges.

    The Company has approximately 3.3 billion shares in issue. As per today,
the Company holds approximately 82,193,250 million shares in treasury.
The 32.2 million B shares allocated for LTV 2013 now correspond to
approximately 1 percent of the total number of outstanding shares.

    Transfer of treasury stock for previously resolved LTV programs

     * Transfer of approximately 17.7 million B shares on NASDAQ OMX Stockholm
 prior to the AGM 2014 to cover certain expenses, mainly social security 
charges, which may occur in relation to the Long-Term Variable
Remuneration  Programs 2009, 2010, 2011 and 2012.

    Proposal to amend the articles of association

    The AGM resolved not to approve Carl Axel Bruno's proposal to add wording
to the articles of association that at least one fourth of the Board
members shall be men and at least one fourth of the Board members shall
be women.

    Proposal on voting rights

    The AGM resolved not to approve Einar Hellbom's proposal to delegate to
the Board of Directors to review and present to the next AGM how the
shares are to be given equal voting rights.

    Resolution on delegations to the Board of Directors

    The AGM resolved not to approve the proposals from Thorwald Arvidsson to
delegate to the Board to take action to create a shareholders' association
in the company, to write to the Government of Sweden, requesting a
commission to investigate changed legislation regarding abolishment of
voting power differences, and to prepare a proposal regarding Board
representation for small and midsize shareholders.

    NOTES TO EDITORS

    Download high-resolution photos and broadcast-quality video at
www.ericsson.com/press

    Ericsson is a world-leading provider of communications technology and
services. We are enabling the Networked Society with efficient real-time
solutions that allow us all to study, work and live our lives more
freely, in sustainable societies around the world.

    Our offering comprises services, software and infrastructure within
Information and Communications Technology for telecom operators and other
industries. Today 40 percent of the world's mobile traffic goes through
Ericsson networks and we support customers' networks servicing more than
2.5 billion subscriptions.

    We are more than 110,000 people working with customers in more than 180
countries. Founded in 1876, Ericsson is headquartered in Stockholm,
Sweden. In 2012 the company's net sales were SEK 227.8 billion (USD 33.8
billion). Ericsson is listed on NASDAQ OMX, Stockholm and NASDAQ, New
York stock exchanges.

    
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    Ericsson's Annual General Meeting 2013:
http://hugin.info/1061/R/1691597/555553.pdf

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    Source: Ericsson via Thomson Reuters ONE

    [HUG#1691597]

FOR FURTHER INFORMATION, PLEASE CONTACT

Ericsson Corporate Communications
Phone: +46 10 719 69 92
E-mail: media.relations@ericsson.com

Ericsson Investor Relations
Phone: +46 10 719 00 00
E-mail: investor.relations@ericsson.com

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