Summary from the Annual General Meeting of Cherry AB (publ)
Cherry AB (publ) Annual General Meeting was held on May 12, 2016 at 4.30 PM, in Redeye AB’s premises,
Mäster Samuelsgatan 42, Stockholm.
Dividend
The AGM approved the parent company’s and the group’s income statements and balance sheets, according to the annual report for the fiscal year 2015. The meeting decided, that no dividends are paid for 2015 and that the profit for the year is carried forward.
Board
For the period until the next Annual General Meeting it was decided to re-elect as board members Morten Klein, Anna Bergius, Gunnar Lind, Magnus Berglind, Johan Moazed, Anders Holmgren and Rolf Åkerlind. Rolf Åkerlind was elected Chairman of the Board.
It was decided that the remuneration to the Board of directors will amount to SEK 1,330,000, of which SEK 370,000 is paid to the Chairman and SEK 160,000 to each of the other directors.
It was decided to appoint the audit firm PricewaterhouseCoopers AB with Alexander Lyckow as the responsible auditor. It was decided that remuneration to the auditor would be paid according to the approved fees.
It was unanimously decided to grant the directors and the CEOs discharge for the operations of the company's affairs during the financial year 2015. It was noted that board members representing their own and others' shares, as well as the CEOs, did not participate in the decision.
Decision on the guidelines for remuneration to senior executives
It was decided, in accordance with the Board’s proposal, that the guidelines adopted at the annual general meeting 2015 regarding salaries and other compensation for the CEO and other senior executive’s should continue to apply. Any variable compensation that may be offered to senior executives based on achievement of predetermined targets can be granted with a maximum of 100 percent of the base salary.
Decision to issue an incentive program based on stock options for employees
It was unanimously decided, in accordance with the Board’s proposal, to approve the incentive program based on stock options for the employee’s in accordance with earlier distributed appendix 2. The program runs over the period 2016/2019.
Decision to approve and issue an incentive program based on stock options for employees in Yggdrasil Holding Limited
It was unanimously decided, in accordance with the Board’s proposal, to approve the stock options program and the earlier issued stock options in Yggdrasil Holding Limited (”Yggdrasil Holding”).
Translation
This is a translation of the Swedish original.
Complete minutes from the AGM are available on the company’s website in Swedish.
http://cherry.se/en/shareholder-meetings-and-minutes/
__________
Stockholm in May 13th 2016
CHERRY AB (PUBL)
The board of directors
Translation
This is a translation of the Swedish original.
For further information, please contact:
Fredrik Burvall, CEO Cherry AB (publ), telephone +46 8-514 969 52, +46 709 279 632, Email: fredrik.burvall@cherry.se Gunnar Modalen, Head of Investor Relations & Communication Cherry AB (publ), telephone +46 702 802 636, gunnar.modalen@cherry.se
Cherry in brief
Cherry is a Swedish gaming company established in 1963 specialized in online casinos and lotteries (www.CherryCasino.com, www.EuroLotto.com, www.EuroSlots.com, www.SpilleAutomater.com, www.NordicSlots.com, www.NorgesSpill.com, www.SveaCasino.com, www. SuomiAutomaatti.com, www.Sunmaker.com and www.SunnyPlayer.com), affiliate business through Game Lounge and games development (www.Yggdrasil.com), through subsidiaries in Malta. Cherry is the market leader in casinos in restaurants and nightclubs in Sweden. Cherry employs around 800 people and has more than 3,800 shareholders. The Company's B-shares are listed on AktieTorget.