Report from Annual General Meeting in Interfox Resources AB (publ)
The shareholders of Interfox Resources AB (publ) have on May 18th, 2015 convened for the Annual General Meeting (“AGM”) in Stockholm, where the following decisions were taken.
The AGM decided to adopt the income statement and the balance sheet in accordance with the proposed Annual Report. The result for the year was appropriated according to the proposed balance sheet. It was decided that no dividend shall be given for the financial year 2014. The Board of Directors and the CEO was granted discharge from personal liability for the financial year 2014.
The AGM re-elected Max Renard, Anders Thorsell and Jonathan Collins as Directors. It was resolved that the remuneration to the Board up until the following AGM shall be the following: Chairman of the Board, SEK 89 000 and the remaining directors SEK 66 750 each. At an inaugural board meeting to be held on Wednesday 20 May, Max Renard will be elected Chairman of the Board.
Johan Erlandsson from HLB Revisorsgruppen in Malmö was elected as new auditor for the Company.
The AGM decided to authorize the Board to The Board of Directors to, at one or more occasions before the next Annual General Meeting, with or without deviation from the pre-emption rights of shareholders, resolve upon the new issue shares, warrants and/or convertibles. The issue/issues shall be made against cash payment, contribution in kind and/or as a set-off. The subscription price shall correspond to the market value. The issue of shares, warrants and/or convertibles may increase the number of shares by a total of 8 000 000 shares. One of the purposes with the authorisation is for the Board to be able to execute the previously announced offer to the shareholders of 4 773 617 shares at a price of SEK 1 per share, which as previously communicated will be executed if and when such terms are attractive for the shareholders.
In a Q&A session in connection with the closing of the AGM, it was among other things communicated that the Company now has invested so that it is entitled to a further 5.22 percent ownership in OOO Bakcharneftegaz, giving a total ownership of 30.64 percent. This ownership change is expected to be registered shortly. In addition, it was clarified that the ongoing negotiations with Asian investors mainly relate to two specific significant oil and gas companies from different countries, but also that a further two companies have been deemed interesting to continue discussions with. In this context, it was clarified that the negotiations relate to both the financing of the new well as well as a potential sale of the project already at this stage of development.
At the AGM 12 persons were present, representing more approximately 30 percent of the total amount of votes in the Company. The AGM decided in line with the proposals from the Board. The decisions were unanimous. Full details of each proposal for decision can be found in the summons to the AGM and the full proposals for decisions that can be found on the company web page. The Annual Report can be acquired from Interfox Resources AB (publ). It is also available on www.interfoxresources.se.
Interfox Resources AB (publ)
Board of Directors
For further information, please contact:
Anders Thorsell, Board Member
Mobile phone: +46 70 773 20 45
Facts about Interfox Resources AB (publ)
Interfox Resources is a Swedish exploration company with focus on exploration for oil and gas in Russia. In Russia, the company controls one combined exploration and production license in the Tomsk region of Western Siberia, the 71-1 “Elley-Igayskoye”. The company is about to conduct a work program with the purpose of converting resources to reserves.
The Interfox Resources share is traded at Aktietorget under the short name IFOX.