A U nique and Decentraliz ed Organiz ation with a Clear and E fectiv e Go v ernance Structure Securit as promotes mana g ement based on local responsibilit y in close pro xim- it y to cus tomer s and emplo y ees. This unique and decentr aliz ed or ganization encour a g es entrepreneur ship , but requires a solid g o v ernance and mana g ement sys tem. T o meet hig h s t andar ds of corpor ate g o v ernance , Securit as has created a clear and ef fectiv e s tructure for responsibilit y and g o v ernance . Securit as ’ g o v ernance ser v es not only to protect s t ak eholder interes ts, but also to ensure v alue creation. Securit as has a decentr aliz ed or ganizational model that focuses on the appro ximately 1 800 br anch mana g er s who run the compan y’ s daily oper ations. The compan y’ s cus tomer oferin g s impro v e when decisions are made in close pro ximit y to cus tomer s. Local decisions are therefore promoted but made within a w ell-controlled en vironment . An efectiv e g o v ernance s tructure requires that all components inter act in or der to reach the set s tr ate g ic objec- tiv es, and that g o v ernance and risk mana g ement permeate all la y er s of the or ganization. The o v er all s tructure be g ins with shareholder s and their infuence . Stron g principal shareholder s pro vide consider able at tention and interes t in our business, and es t ablish commitment to the success of the business. Signifcant shareholder s On December 31, 2012, the principal shareholder s in Securit as w ere Gus t af Doug las who , throug h his family and companies in the In v es tment AB L atour Group and F or v altnin g s AB W asatornet , holds 11.5 percent (11.5) of the capit al and 30.0 percent (30.0) of the v otes, and M elk er Schorlin g who , throug h his family and M elk er Schorlin g AB, holds 5.6 percent (5.6) of the capit al and 11.8 percent (11.8) of the v otes. F or more det ailed information about shareholder s, see the t able on pa g e 135. Annual G ener al M eetin g All shareholder s are able to e x ercise their infuence at the Annual G ener al M eetin g, which is the com- pan y’ s hig hes t decision-makin g body . The G ener al M eetin g decides on chan g es of the Articles of Association. The Articles of Association cont ain no limit ation on the number of v otes that each share- holder ma y e x ercise at a shareholder s ’ meetin g. Each shareholder ma y thus v o t e f o r a l l s h a r e s h e l d at the shareholder s ’ meetin g. The Annual G ener al M eetin g of Securit as AB (publ.) w a s h e l d o n M a y 7 , 2012, and the minutes are a v a i l a b l e o n S e c u r i t a s ’ w ebpa g e , where all resolutions p a s s e d c a n b e f o u n d . Shareholder s representin g 6 5 . 5 p e r c e n t o f t h e v otes at tended either per sonally o r b y p r o x y . F o r information about election and remuner ation of Boar d member s, see pa g e 34. Nomination Commit tee The Nomination Commit tee is a body es t ablished b y the Annual G ener al M eetin g with the t ask of preparin g motions re gar din g the election of Boar d member s, the Chairman of the Boar d and remuner - ation to Boar d member s and Boar d commit tees. Before each Annual G ener al M eetin g, where the election of auditor s t ak es place , the Nomination Commit tee also prepares motions re gar din g the election of auditor s and decisions about fees to auditor s and other related mat ter s, follo win g con- sult ation with the Boar d of Director s and the Audit Commit tee . Gus t af Doug las w as re-elected as Chairman of the Nomination Commit tee . The Nomination Com - mit tee is entitled to appoint one additional member to the Nomination Commit tee . The Annual G ener al M eetin g 2012 resolv ed that in the e v ent that a shareholder represented on the Nomination Com- mit tee ceases to be one of the ma jor shareholder s of Securit as (based on v otes), or if a member of the Nomination Commit tee is no lon g er emplo y ed b y such a shareholder , or for an y other reason lea v es the Commit tee before the Annual G ener al M eetin g 2013, the Commit tee is entitled to appoint another represent ativ e of another ma jor shareholder to replace this member . % of v otin g rig hts ANNU AL GENERAL MEE TING A T TEND ANCE 2008–2012 08 09 10 11 12 30 000 25 000 20 000 15 000 10 000 5 000 0 NU MBER OF SHAREHOLDERS 2008–2012 08 09 10 11 12 100 80 60 40 20 0 NU MBER OF SHAREHOLDERS 2008–2012 2008 27 616 2009 31 527 2010 31 458 2011 27 011 2012 27 222 33 Securit as Annual R eport 2012 G o v ernance and mana g ement Boar d of Director s ’ report on corpor ate g o v ernance and internal control