Bulletin from MAG Interactive's Annual General Meeting
On Tuesday, December 18, 2018, MAG Interactive AB (publ) held its Annual General Meeting with Pontus Enquist as chairman. The Annual General Meeting revolved upon, inter alia, the following:
Adoption of balance sheets and income statements
The Annual General Meeting adopted the parent company's income statement and balance sheet, as well as the consolidated income statement and the consolidated balance sheet for MAG Interactive.
Allocation of profit or loss
The Annual General Meeting resolved to allocate the company's loss in accordance with the board of directors' proposal.
Board of Directors
The board members and the CEO were discharged from liability for the financial year 2017/2018.
The Annual General Meeting resolved that the number of board members shall be five and re-elected the board members Daniel Hasselberg and Teemu Huuhtanen, and resolved to elect Birgitta Stymne Göransson, Andras Vajlok and Taina Malén as new board members.
The board members Walter Masalin (chairman of the board of directors), Kaj Nygren, Johan Persson and Michael Hjorth had stated that they did not wish to be re-elected.
Birgitta Stymne Göransson was elected as chairman of the board of directors.
Fees to the Board of Directors
The Annual General Meeting resolved that fees amounting to SEK 400,000 shall be paid to the chairman of the board of directors and that fees amounting to SEK 200,000 shall be paid to each of the other board members not employed by the company.
Auditors The Annual General Meeting resolved that the registered auditing firm PricewaterhouseCoopers AB shall be re-elected as the company's auditor for the period until the end of the next Annual General Meeting.
Guidelines for remuneration for the CEO and executive management
The Annual General Meeting approved the board of directors' proposal regarding guidelines for remuneration for the CEO and executive management in accordance with the proposal presented in the notice of the Annual General Meeting.
Authority for the board of directors to issue new shares
The Annual General Meeting resolved, in accordance with the board of directors' proposal, to grant the board of directors the authority, on one or more occasions for the period until the end of the next Annual General Meeting, to issue new shares, either applying or disapplying the shareholders' pre-emption rights. The number of shares issued by virtue of the authority may not exceed an increase of ten (10) percent of the share capital based on the total share capital of the company on the date of the Annual General Meeting 2018. If the Board of Directors resolves to issue new shares disapplying the shareholders' pre-emption rights, the reason for this must be to implement an acquisition agreement, or, alternatively, to procure capital for such acquisition.
Adoption of a long-term incentive program and resolution regarding an issue of warrants and transfer of shares and/or warrants
The Annual General Meeting resolved, in accordance with the board of directors' proposal, to implement a long-term incentive program for the executive management and other employees in MAG interactive. The long-term incentive program shall consist of an employee stock option program.
In order to enable MAG Interactive's delivery of shares under the employee stock option program the Annual General Meeting resolved, in accordance with the board of directors' proposal, to issue not more than 526,428 warrants to a wholly owned subsidiary of MAG Interactive, and to approve that the subsidiary transfers shares to the participants of the employee stock option program in connection with exercise of the employee stock options.
The board of directors MAG Interactive AB (publ)
For additional information, please contact: Daniel Hasselberg / CEO / +46 (0)8 644 35 40 / firstname.lastname@example.org Magnus Wiklander / CFO / +46 (0)8 644 35 40 / email@example.com