As a result of the recent outbreak of the novel coronavirus COVID-19, we 
find ourselves in an exceptional market situation and in an economic 
situation that is difficult to assess. The increased risk level 
regarding the spread of the virus has led authorities in Sweden to 
introduce restrictions for events and travels. SEB has one of the most 
highly attended annual general meetings in Sweden, with more than 1,200 
shareholders registered to attend this year. Of those, a majority are 
older than 70 years. We therefore have a special responsibility in 
safeguarding the health of our shareholders and our employees. The AGM 
was originally scheduled to be held at Konserthuset in Stockholm on 23 
March at 1 p.m. 
   SEB has a strong liquidity position and a solid capital buffer. SEB is 
now fully using that strength to support its customers and thereby 
society at large in these challenging times. The board's 
   dividend proposal for 2019 was motivated by the bank's strong capital 
position as well as a solid financial result, but given the exceptional 
global developments it is today difficult to assess to 
   what extent SEB's customers will need further financing and support. To 
allow even more room for SEB to act in the interest of customers and 
shareholders, SEB's board will analyse the situation before evaluating 
the dividend proposal for 2019. 
   As a result, the SEB Board of Directors has made the decision today to 
postpone the AGM until a later date. 
   "The decision to postpone the annual general meeting is the result of an 
overall assessment. We are in an uncertain situation regarding the 
spread of the virus and the consequences of the ongoing COVID-19 
pandemic. There is also uncertainty about the rapidly changing economic 
situation, which is difficult to assess. Our main task is to contribute 
with financial support and advice to SEB's customers in this challenging 
period. We are doing our utmost to support our customers in maintaining 
their operations and keeping their vitality for the future", says Marcus 
Wallenberg, Chair of the Board of Directors of SEB. 
   SEB will publish a new invitation to the AGM no later than four weeks 
prior to the new date. The AGM will at the latest be held on 30 June, in 
accordance with existing legislation. 
   For further information, please contact 
   Christoffer Geijer, Head of Investor Relations 
   +46 (0)8 763 8319 
   Press contact 
   Frank Hojem, Head of Communications 
   +46 (0)8 763 9947 
   SEB is a leading Nordic financial services group with a strong belief 
that entrepreneurial minds and innovative companies are key in creating 
a better world. SEB takes a long-term perspective and supports its 
customers in good times and bad. In Sweden and the Baltic countries, SEB 
offers financial advice and a wide range of financial services. In 
Denmark, Finland, Norway, Germany and UK the bank's operations have a 
strong focus on corporate and investment banking based on a full-service 
offering to corporate and institutional clients. The international 
nature of SEB's business is reflected in its presence in some 20 
countries worldwide. At 31 December 2019, the Group's total assets 
amounted to SEK 2,857bn while its assets under management totalled SEK 
2,041bn. The Group has around 15,000 employees. Read more about SEB at 
   -- 15 200319 SEB postpones the AGM until a later date 

(END) Dow Jones Newswires

March 19, 2020 07:04 ET (11:04 GMT)

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