TCM Group A/S (Nasdaq Copenhagen Small Cap: TCM) confirmed all AGM resolutions on April 9, 2026, including a DKK 4.50 per share dividend totalling DKK 46 million (60 percent of 2025 net profit), the election of Rodolfo Zeidler to the board, and PricewaterhouseCoopers reappointed as both financial and sustainability auditor.

TCM Group A/S, Scandinavia's third largest manufacturer of kitchens and furniture for bathrooms and storage, has published the results of its 2026 Annual General Meeting, which was held on Wednesday, April 9, 2026 at 5:00 PM at the company's headquarters at Skautrupvej 22b in Tvis, near Holstebro, Denmark. Issued under company announcement number 264 of 2026, the release confirms that all proposed resolutions were approved by shareholders, including the approval of the 2025 audited annual report, the adoption of the remuneration report and policy, the setting of board fees for 2026, a dividend distribution of DKK 4.50 per share, board re-elections, a new board appointment, auditor reappointments, authorization to acquire treasury shares, and the introduction of an option for fully electronic general meetings. The orderly execution of the AGM reinforces TCM Group's ongoing commitment to sound corporate governance and direct engagement with its diverse Danish and international investor base as the company continues to execute its long-term strategic plan.

Approval of Annual Report and Remuneration Items

At the 2026 AGM, the Board of Directors' report was presented to shareholders but not subject to a vote, in accordance with common practice for Danish listed companies. The audited Annual Report for 2025 was formally approved by the meeting, providing shareholders with the opportunity to review the company's financial performance, business update, and outlook for the year ahead. The remuneration report for 2025 was also approved, alongside the adoption of the company's remuneration policy, which sets the framework for executive compensation and alignment with shareholder interests. The AGM further approved the fees to be paid to members of the Board of Directors for 2026, ensuring transparency around board compensation and its linkage to the responsibilities assumed by directors. These governance items are central to the Danish corporate governance framework and reflect established standards of transparency and accountability to the company's shareholder base, which is a key element of TCM Group's listed company profile.

Dividend Distribution of DKK 4.50 Per Share

One of the most closely watched items at the AGM was the Board of Directors' proposal to distribute a dividend of DKK 4.50 per share for the 2025 financial year. Shareholders approved the proposal, confirming the dividend payment in line with the company's capital return framework. For investors in TCM Group, the dividend represents a meaningful component of the overall return from the stock, complementing potential capital appreciation over time. Danish listed companies traditionally place significant emphasis on dividend distributions, and shareholders often view the annual dividend decision as a key signal of board confidence in the sustainability of the company's cash flows and financial position. The DKK 4.50 per share dividend reflects the Board of Directors' assessment of both the company's 2025 performance and its outlook, balancing the return of capital to shareholders against the need to retain sufficient financial flexibility for operational requirements, strategic investments, and potential future business development opportunities.

Board Composition: Re-Elections and New Appointment

The AGM confirmed the re-election of Anders Tormod Skole-Sørensen, Jan Amtoft, Pernille Wendel Mehl, Erika Hummel, and Björn Olsson Lissner to the Board of Directors. In addition, Rodolfo Zeidler was elected as a new member of the Board, bringing fresh perspective and expertise to the company's governance body. Board composition is an important consideration for listed companies, as it determines the mix of skills, experience, and independence applied to oversight of management and long-term strategy. The addition of a new director alongside the continuity of existing members indicates a balanced approach to board refreshment, which is consistent with best practices in Nordic corporate governance. The election of new members can bring additional expertise in areas such as international markets, digital strategy, sustainability, manufacturing operations, or finance, further strengthening the board's capacity to oversee TCM Group's business and strategic initiatives during the coming term.

Auditor Reappointment and Sustainability Oversight

Pursuant to the proposal from the audit committee, PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab was reappointed as the company's auditor. In a notable reflection of the growing importance of sustainability reporting in Europe, PricewaterhouseCoopers was also reappointed as TCM Group's sustainability auditor, underscoring the increasing integration of sustainability assurance into the corporate reporting cycle. The European Union's Corporate Sustainability Reporting Directive and related standards have elevated the importance of sustainability disclosures for listed companies across the region, including in Denmark. By appointing a dedicated sustainability auditor, TCM Group aligns its practices with the evolving expectations of regulators, investors, and other stakeholders interested in transparent, assurance-backed sustainability reporting. This dual role of the auditor enables consistent, coordinated audit procedures across financial and non-financial disclosures, supporting the reliability and comparability of the information provided to market participants following the company closely.

Authorization to Acquire Treasury Shares

The AGM also approved a proposal authorizing the Board of Directors to acquire treasury shares, consistent with routine capital management flexibility granted at many Danish listed company AGMs. Treasury share authorizations provide the board with the ability to execute share buybacks if market conditions and financial position warrant such actions, giving TCM Group additional tools for capital management and potential shareholder returns. Share buyback programs are a common feature of Nordic capital markets, allowing companies to return surplus cash to shareholders, optimize capital structure, and offset dilution from any equity compensation programs. While the authorization does not commit the company to any specific buyback activity, it does provide the flexibility to act if and when the Board of Directors concludes that repurchasing shares would be in the best interest of the company and its shareholders. The authorization is typically valid until the next Annual General Meeting.

Digital General Meeting Option

A particularly forward-looking proposal adopted at the AGM introduces the option for TCM Group to hold fully electronic general meetings in the future. The proposal reflects a broader trend across listed companies in the Nordic region and Europe more generally, as digital participation in shareholder meetings becomes more common and as technology enables secure, reliable virtual voting and engagement. Fully electronic meetings can provide benefits including broader accessibility for shareholders regardless of geographic location, reduced costs and environmental impact compared with in-person meetings, and enhanced efficiency in meeting logistics. At the same time, ensuring that shareholders can still engage meaningfully with the board and management, ask questions, and have their votes properly counted is an important design consideration for any virtual meeting format. TCM Group's adoption of the option provides flexibility without committing the company to a particular meeting format, allowing future boards to choose the approach best suited to circumstances.

Strategic Context: The Scandinavian Kitchen Market

The Scandinavian kitchen industry is characterized by strong design traditions, high standards of craftsmanship, and a mature consumer market that values quality, functionality, and sustainability. Demand in the sector is influenced by housing market activity, renovation spending, consumer confidence, and demographic trends. The past few years have presented challenges for the industry, as higher interest rates and economic uncertainty dampened housing transactions and led consumers to postpone major kitchen renovation projects. Against this backdrop, TCM Group has focused on operational efficiency, brand differentiation, and cost management to preserve profitability while maintaining its competitive position. The multi-brand strategy provides resilience by allowing the company to serve different segments of the market, including premium, mid-range, and value-oriented customers. As housing market conditions normalize over time, TCM Group is expected to benefit from pent-up demand for kitchen renovations and upgrades across its key Scandinavian markets.

Competitor Landscape

TCM Group's main competitors in the Scandinavian kitchen market include international players such as IKEA, which is the largest retailer in the region, and other Danish, Swedish, and Norwegian manufacturers offering kitchen and furniture products. The competitive landscape spans a wide range of segments from budget-friendly flat-pack kitchens to high-end bespoke designs, and TCM Group's multi-brand portfolio allows it to compete across most of this spectrum. Key competitive differentiators include design aesthetics, product quality, delivery reliability, after-sales service, and retail partnerships. Over the past several years, competition has intensified as consumers increasingly research and purchase products online, making digital marketing, e-commerce capabilities, and omnichannel retail integration more important than ever. TCM Group has continued to invest in strengthening its dealer network and supporting its brands across traditional and digital channels, and these efforts will remain central to its competitive strategy in the coming years across Scandinavia.

Leadership Contact and Investor Relations

TCM Group is led by Chief Executive Officer Torben Paulin, who serves as the primary contact for media and investor inquiries related to the company. Investor relations inquiries can be directed to the dedicated IR email address published by the company. The company maintains transparent communication with its shareholder base through annual reports, interim financial statements, press releases, investor presentations, and direct engagement at events such as the Annual General Meeting. The announcement of the AGM results is one of several regular communications that help keep the investment community informed about the company's governance, financial performance, and strategic direction. For investors, the orderly conduct of the AGM and the approval of all resolutions provide reassurance that TCM Group's governance framework is functioning effectively and that the company is operating in line with stakeholder expectations on key corporate matters throughout its ongoing business activities.

Conclusion

TCM Group's 2026 Annual General Meeting, held on April 9 at the company's headquarters in Tvis, Denmark, concluded with the approval of all proposed resolutions, including the DKK 4.50 per share dividend, the remuneration report and policy, board re-elections and a new director appointment, the reappointment of PricewaterhouseCoopers as both financial and sustainability auditor, authorization to acquire treasury shares, and the introduction of an option for fully electronic general meetings. The outcomes reflect continued shareholder confidence in the company's leadership and governance framework, as well as its direction in a Scandinavian kitchen market that continues to face both challenges and opportunities. For TCM Group, the AGM represents an important milestone in the annual governance cycle, confirming the mandate for the Board and executive team to continue executing the company's strategic plan, investing in its brands and operations, and delivering value to its customers, employees, and shareholders through 2026 and beyond as it navigates its position in the Scandinavian market.