Cinnober Financial Technology AB (publ) held its annual general meeting on Tuesday 16 May under the chairmanship of attorney at law Thomas Nygren. The meeting adopted the following decisions, among others.
- The income statement and balance sheet were approved for the parent company and the group.
- The Board’s proposal for distribution of profits was approved, which meant that the profits for the year would be carried forward.
- The Board and the CEO were discharged from liability for the fiscal year 2016.
- The meeting re-elected six board members: Nils-Robert Persson, Patrik Enblad, Cecilia Lager, Peter Lenti, Staffan Persson and Helena Westin. Nils-Robert Persson was elected as chairman.
- The meeting re-appointed Deloitte AB as the company’s auditing firm for the period until the end of the next annual general meeting, with principal auditor Svante Forsberg.
- The meeting resolved, in accordance with the Board’s proposal, on share split and change to the articles of association, accordingly, each share is divided into three shares (3:1). Following the split, the number of shares will amount to 22,431,105, each with a quotient value of SEK 0.33. The Board is authorized to decide on record date regarding the split, however, not prior to registration of the resolution with the Swedish Companies Registration Office. The split is made in order for the Company to have a suitable number of outstanding shares. As a result of the split, the Company has a larger number of outstanding shares, wherefore the meeting resolved to change the articles of association by giving Section 5 the following wording: “The number of shares shall be not less than 18,000,000 and not more than 72,000,000” (Sw. “Antalet aktier ska vara lägst 18 000 000 och högst 72 000 000”).
- The meeting authorized the Board to, on one or more occasions during the period until the next annual general meeting, resolve upon an issue of new shares entailing an increase in the company’s share capital by a maximum of SEK 350,000. The purpose of this authorization is to create room for manoeuvre for financing of new business opportunities within the scope of current business operations or for extended operations such as corporate acquisitions.
The presentation made at the meeting by Veronica Augustsson, CEO of Cinnober, will be published at the company’s website, www.cinnober.com/investor-relations. The minutes of the Annual General Meeting will be published there as soon as they have been checked and attested.
