NMG: Summary of the Annual General Meeting in Nickel Mountain Group AB conducted today in Stockholm
The Annual General Meeting (“AGM”) in Nickel Mountain Group AB (“NMG”) was today held in Stockholm. The agenda contained the compulsory items plus a proposal to change name of the company and to amend the articles of association. Lastly, a mandate for the Board of Directors to decide on new share issues was approved
The AGM first adopted the income statements and balance sheets of the parent company and of the group. The Board’s proposal not to distribute any dividends was approved. The Board of Directors and management were discharged from liability.
The current Board of Directors composed of three ordinary members proposed by the Company’s Nomination Committee for re-election was re-appointed. The Board directors elected are Martin Nes (Chairman) and Jan Frode Andersen as well as Per Dalemo (ordinary board members).
It was resolved that the remuneration to the board directors would remain unchanged as compared to 2014, namely the Chairman would be paid 250,000 SEK and each of the other two Board directors would receive 150,000 SEK.
PricewaterhouseCoopers AB with responsible main auditor Johan Palmgren were re-elected as auditors by the Annual General Meeting. The shareholders approved to remunerate the auditors on current account for reasonable and approved invoices.
The Annual General Meeting further approved of the instructions for the new Nomination Committee. The same was the case in terms of the proposed “Guidelines for remuneration to the Managing Director and other Senior Executives”.
Further, the present shareholders approved of the proposal by the Board to amend the articles of association so that the Company may in the future also engage in other business activities than just exploration and production of minerals. It was underlined that no concrete proposals exist, but that such amendment would be important for the shareholder value in the company. Also, the present shareholders approved of changing the media channel for announcing notices of shareholder meetings to the daily newspaper “Svenska Dagbladet”.
In this context it was also approved to change the company name to “New Mountain Group”. The name change is expected to get formally registered with the Swedish Companies Registrar (“Bolagsverket”) relatively soon, and when so happens the effected name change will get subject to a press release.
Lastly, the present shareholders approved of a proposal to renew the mandate for the Board of Directors to decide on issues of shares or other similar financial instruments with or without observing the shareholders’ preferential rights in accordance with the proposal to the meeting. In short, the conditions are that the board may resolve on issues of shares, warrants or convertible debt instruments corresponding to a maximum dilution of 50% of the shares and votes of the company post such issue (equal to not more than 90,809,360 new shares).This mandate will be valid to next Annual General Meeting in 2016.
Apart from this management gave a short presentation of the status of the Rönnbäcken Nickel project in North of Sweden and other ongoing matters in the company.
At the AGM there were 41,799,467 shares present and voting representing some 46 per cent of all shares and votes outstanding.
For and on behalf of the Board of Directors of Nickel Mountain Group AB
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Nickel Mountain Group AB (publ) is a Swedish company headquartered in Stockholm. The Company's shares are listed on the Oslo Stock Exchange (ticker: NMG). Please refer to www.nickelmountain.se for more detailed information.
Cautionary Statement: Statements and assumptions made in this document with respect to Nickel Mountain Group AB’s (“NMG”) current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of NMG. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to, (i) changes in the economic, regulatory and political environments in the countries where NMG operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) NMG’s continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) metal prices, particularly as regards nickel. In the light of the many risks and uncertainties surrounding any mineral project at an early stage of its development, the actual results could differ materially from those presented and forecast in this document. NMG assumes no unconditional obligation to immediately update any such statements and/or forecasts.
The vision of Nickel Mountain Group AB is to be an explorer and miner recognized for our attractive assets and ability to effectively run projects from exploration to commercialization, leaving a lasting footprint within the regions we operate through investments, community engagement and transfer of expertise.