Bulletin from MAG Interactive's annual general meeting
STOCKHOLM, Jan. 20, 2021 /PRNewswire/ -- The annual general meeting of MAG Interactive AB (publ) was held on Wednesday, 20 January 2021 by way of postal voting procedure. The annual general meeting resolved 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 the financial year 2019/2020.
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 2019/2020.
The annual general meeting resolved that the number of board members shall be six and re-elected the board members Daniel Hasselberg, Teemu Huuhtanen, Andras Vajlok, Taina Malén, and Asbjørn Søndergaard. Jonas Eriksson was elected as new member of the board.
Jonas Eriksson was elected as new 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.
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 2021. 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 employee stock option 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 employee stock option program for employees of MAG interactive.
In order to enable the company'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 264,947 warrants in two series to a wholly owned subsidiary of MAG Interactive, and to approve that the subsidiary transfers shares and/or warrants to the participants of the employee stock option program in connection with exercise of the employee stock options. Since the warrants are intended to secure delivery of shares in the employee stock option program as well as enable the participants' choice between cash exercise or cashless exercise, the subsidiary will not exercise more than 264,947 warrants (of either series), which corresponds to the maximum number of employee stock options in the employee stock option program.
Adoption of a long-term warrant program and resolution regarding an issue of warrants
The annual general meeting resolved, in accordance with the board of directors' proposal, to implement a long-term warrant program for members of the executive management of MAG Interactive and certain members of the executive management in the company's subsidiary Sventertainment AB.
In order to enable the company's delivery of shares under the warrant program the annual general meeting resolved, in accordance with the board of directors' proposal, to issue not more than 264,947 warrants to the participants in the warrant program.
Resolution to change the articles of association
The board of directors' proposal to change the articles of association was adopted by the annual general meeting, which entails, inter alia, that the date for giving notice of attendance to general meetings is amended.
The Board of Directors
MAG Interactive AB (publ)
For additional information, please contact:
Daniel Hasselberg / CEO / +46 (0)8 644 35 40 / daniel@maginteractive.se
Magnus Wiklander / CFO / +46 (0)8 644 35 40 / magnus.wiklander@maginteractive.se
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