English
Published: 2011-05-05 19:00:00 CEST
PartnerTech AB.
Decisions of general meeting
Press release from the annual general meeting of PartnerTech AB (publ), May 5, 2011
Press release from the annual general meeting of PartnerTech AB (publ),
May 5,
2011

Among the resolutions passed by the meeting were:

  · All of the
company's unappropriated earnings of SEK 127,017,784 are
to be carried over to
new account, as the result of which no dividend
will be payable for fiscal year
2010 (SEK 0/share for fiscal year 2009).

  · The members of the board and the
CEO were discharged from liability
for fiscal year 2010.

  · The income
statement and balance sheet, as well as the consolidated
income and
consolidated balance sheet, were adopted.

  · The board fee was set to remain
at SEK 320,000 for the chairman and
SEK 160,000 for other members who are not
employees of the company.

  · Patrik Tigerschiöld, Petter Stillström, Thomas
Thuresson, Henrik
Lange, Andreas Bladh and Lotta Stalin were reelected as
members of the
board. Rune Glavare declined reelection and was thanked for
his
services. Mr. Tigerschiöld was reelected as Chairman of the Board.
Deloitte
was elected as the company's accounting firm with Per-Arne
Petersson as
principal auditor. It was resolved that audit fees will be
payable in
accordance with approved invoices.

  · Proposed guidelines were adopted
governing remuneration for
management. For full terms and conditions, please go
to
www.partnertech.com

  · The proposed incentive program for the CEO, senior
executives, plant
managers and other key employees was adopted. The program
will consist
of no more than 379,950 warrants, which are expected to have a
maximum
dilutive effect of just under 3% of share capital upon
full
subscription.

  · Whether with or without departure from the preferential
rights of
shareholders, the meeting authorized the board to reach
decisions
concerning one or more issues prior to the next annual general
meeting
totaling no more than 1,266,490 new shares, representing dilution
of
just under 10% of share capital and total number of votes. The purpose
of
the authorization is to enable acquisitions.

President and CEO Leif
Thorwaldsson presented PartnerTech's sales and
earnings figures for 2010 and
the first quarter of 2011. He noted that
both sales and earnings steadily
improved in 2010 and that the company
reported a profit in the fourth quarter
after various measures and
changes had made an impact at the same time as sales
increased. The
trend continued in the first quarter. He also referred to the
fact that
the company made significant investments in 2010 that further
strengthen
the competitiveness of its customers. The biggest investment was the
new
plant in Myslowice, Poland, one of Europe's most modern and
highly
automated facilities for sheet metal working and systems integration.
As
a result of the investment, the unit in Sieradz, Poland was streamlined
to a
highly efficient electronics plant with new production equipment.
Customers
have exhibited great interest and see many advantages of this
complete
production base in Eastern Europe.

Mr. Thorwaldsson emphasized that the
company's main focus in 2011 will
be sustainable profitability in all markets,
and that activities that
promote internal efficiency and capital tied-up will
thereby continue to
receive top priority. He concluded by remarking that
PartnerTech's broad
offering, industrial structure and unwavering focus provide
good
prospects for continued growth.

For additional information, please
call:
Leif Thorwaldsson, President and CEO, +46 40-10 26 41
Marielle Noble,
Communications and Investor Relations Manager, +46 40-10
26 43
 


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