Announcement from LeoVegas annual general meeting 2018
The annual general meeting ("AGM") of LeoVegas AB (publ) ("LeoVegas" or the "Company") was held today on 29 May 2018 and the following resolutions were passed by the meeting.
Adoption of the income statement and the balance sheet
The AGM resolved to adopt the income statement and the balance sheet in LeoVegas and the consolidated income statement and the consolidated balance sheet.
Allocation of profit
The AGM resolved, in accordance with the board of directors' proposal, of the amount available for distribution to the shareholders, EUR 21,028,353, SEK 119,634,564 is distributed to the shareholders corresponding to SEK 1.20 per share and the remaining amount, 8,872,197 is carried forward. It was further resolved, in accordance with the board of directors' proposal, that the record date entitling to dividend shall be 31 May 2018, where the dividend will preliminary be paid out from Euroclear Sweden AB on 5 June 2018.
Discharge from liability
The directors of the board and the CEO were discharged from liability for the financial year 2017.
Election of the board of directors, auditor and remuneration
The AGM resolved that the board of directors shall comprise seven directors and no deputy directors.
The AGM resolved that the number of auditors shall be one registered audit firm.
It was further resolved, in accordance with the nomination committee's proposal, that the he remuneration is to be SEK 2,500,000 in total, including remuneration for committee work (SEK 1,500,000 previous year), and shall be paid to the board of directors and the members of the established committees in the following amounts:
- SEK 300,000 for each of the non-employed directors and SEK 600,000 to the chairman provided that the chair is not an employee;
- SEK 50,000 for each of the non-employed members of the remuneration committee and SEK 100,000 to the chairman of the committee who is not also an employee; and
- SEK 50,000 for each member of the audit committee and SEK 100,000 to the chairman of the committee.
It was further resolved that remuneration to the auditor shall be paid in accordance with approved invoices.
Per Brillioth, Barbara Canales, Robin Ramm-Ericson, Mårten Forste, Anna Frick, Tuva Palm and Patrik Rosén were re-elected as directors of the board. Mårten Forste was re-elected as the chairman of the board.
PricewaterhouseCoopers AB was re-elected as the Company auditor. PricewaterhouseCoopers AB has announced that Aleksander Lyckow remains as main responsible auditor.
Principles for the nomination committee
It was resolved to adopt principles for the nomination committee in accordance with the committee's proposal.
Guidelines for remuneration to the senior executives
The AGM resolved, in accordance with the board of directors' proposal, to adopt guidelines for remuneration to the senior executives.
Resolution regarding incentive program for employees
The AGM resolved in accordance with the board of directors proposal to issue a maximum of 1,250,000 warrants, with deviation from the shareholders preferential rights, which may result in a maximum increase in the Company's share capital of EUR 15,000.000028. The warrants shall entitle to subscription of new shares in the Company. It was further resolved that Gustaf Hagman and Robin Ramm-Ericson shall not be eligible under the program as previously stated in the proposal included in the notice.
The warrants shall be subscribed for by Gears of Leo AB (the "Subsidiary"), with the right and obligation to, at one or several occasions, transfer the warrants to senior executives, other employees and key persons, who are or will become employed by the Company or within the group, at a price that is not less than the fair market value of the warrant according to the Black & Scholes valuation model and otherwise on the same terms as in the issuance.
For further details regarding the resolutions as set out above refer to the complete proposals available at the Company's website, www.leovegasgroup.com .
For further information, please contact:
Gustaf Hagman, Group CEO: +46 (0) 8 410 367 66, firstname.lastname@example.org
Mårten Forste, Chairman of the Board: +46 (0) 8 410 367 66, email@example.com
Philip Doftvik, Head of Investor Relations and Corporate Finance: +46 73 512 07 20, firstname.lastname@example.org
About the LeoVegas mobile gaming group
LeoVegas' passion is "Leading the way into the mobile future". LeoVegas is Sweden's premier GameTech company and is at the forefront of using state-of-the-art technology for mobile gaming. In 2017 the company passed the threshold for being classified as a unicorn, i.e., a start-up valued at more than USD 1 billion. A large part of this success can be credited to an extreme product and technology focus coupled with effective and data-driven marketing. Technology development is conducted in Sweden, while operations are based in Malta. LeoVegas offers casino, live casino and sports betting, and operates two global and scalable brands - LeoVegas and Royal Panda - as well as a local, multibrand operator collectively referred to as Rocket X. The company's shares are listed on Nasdaq Stockholm. For more about LeoVegas, visit www.leovegasgroup.com.