Report from the Annual General Meeting of Scandinavian Biogas Fuels International AB (publ)
STOCKHOLM, June 27 2019
Scandinavian Biogas Fuels International AB (publ), corporate identity number 556528-4733, has
today held the annual general meeting, at which the following decisions were made.
Decision on the determination of accounts, allocation of profits and discharge from liability
The Annual General Meeting approved the income statement and balance sheet as well as the consolidated income statement and the consolidated balance sheet for the financial year 2018, as well as the Board of Directors' proposal for allocation of profits, which means that the profit for the year is capitalized on a new account and that no dividend is paid for the financial year 2018. Furthermore, the Annual General Meeting granted the Board members and the CEO discharge from liability in respect of the company for the financial year 2018.
Election of new board and auditor
In accordance with the Nomination Committee's proposal, the Annual General Meeting resolved that the number of Board members shall be seven, without deputies, whereby Göran Persson, Anders Bengtsson, Andreas Ahlström, Hans Hansson, Sara Anderson and David Schelin were re-elected as Board members and Stefan Engström was elected as new Board member. Göran Persson was re-elected Chairman of the Board. The Annual General Meeting further resolved, in accordance with the Nomination Committee's proposal, that remuneration to the Board members shall amount to SEK 350,000 to the Chairman of the Board and SEK 50,000 to each of the other Board members. Remuneration to the members of the Audit Committee shall be SEK 25,000 to the Chairman of the Committee and SEK 15,000 to each of the other members of the Committee. In accordance with the Nomination Committee's proposal, the Annual General Meeting resolved to re-elect the registered auditing company Öhrlings PricewaterhouseCoopers AB as the company's auditor. As chief auditor, Öhrlings PricewaterhouseCoopers AB intends to appoint authorized public accountant Lars Kylberg. Fees to the auditor shall be paid at a fixed price after completion of the auditing contract.
Share issue authorization
In accordance with the Board's proposal, the Annual General Meeting resolved to authorize the Board, within the framework of the current Articles of Association, with or without deviation from the shareholders' preferential rights, on one or more occasions until the next Annual General Meeting, to decide on new issues of shares, warrants and / or convertibles in the company. The total number of shares that may be covered by such new issues corresponds to a total of no more than 60,000,000 shares. The issues shall be made at a market subscription price, subject to market-based issue discount, if applicable, and payment shall, in addition to cash payment, be made with a non-cash property or through set-off, or otherwise with terms.
Amendment of the Articles of Association
The Annual General Meeting resolved, in accordance with the Board's proposal, to change the articles of association's limits on share capital and number of shares as follows. The limits of the Articles of Association for share capital are changed from a minimum of SEK 10,000,000 to a maximum of SEK 40,000,000 to a minimum of SEK 20,000,000 and a maximum of SEK 80,000,000. The limits of the Articles of Association for the number of shares are changed from 50,000,000 to a maximum of 200,000,000 shares to a minimum of 100,000,000 and a maximum of 400,000,000 shares.
For further information, please contact:
Matti Vikkula CEO and President
Mobile +46 (0) 70 597 99 38
E mail firstname.lastname@example.org