Bravida Withdraws Dividend and Incentive Program Proposals
Construction services company Bravida has withdrawn its proposals for dividend and a long-term incentive program ahead of its Annual General Meeting due to uncertainty from COVID-19.
Bravida, a provider of installation and construction services, has decided to withdraw its proposals concerning a dividend and the introduction of a long-term incentive program (LTIP) for managers. These proposals were originally intended for the company's Annual General Meeting (AGM) scheduled for April 24.
The company cited the significant uncertainty caused by the COVID-19 pandemic as the primary reason for this decision. Bravida stated its ambition to convene an extraordinary general meeting later in the autumn to address these proposals again, provided that external conditions permit.
CEO and President Mattias Johansson commented that Bravida is on a solid foundation due to its long-standing good cash generation and stable profitability, providing a strong position amid future uncertainties. In a related development, Bravida's Nomination Committee has proposed that board fees remain unchanged for 2020.
Due to the pandemic and temporary legislation, shareholders will have the option to vote in advance of the AGM. Details on the advance voting procedure will be published on Bravida's website shortly.