myFC EGM adopts new issue and elects new Chairman
The extraordinary general meeting of myFC Holding AB on May 9 2018 adopted the Board’s proposal for a new share issue with preferential rights for shareholders. The meeting also adopted an amendment to the Articles of Association and the election of Jörgen Lantto as new Chairman of the Board.
The rights issue refers a maximum of 25,011,709 shares, with a subscription price of SEK 3 per share. Three existing shares entitle the holder to subscribe for two shares.
At full subscription, the issue will generate will approximately SEK 75 million for the Company before issue costs.
The record date for the right to participate in the new issue is 18 May 2018. Subscription, with and without preferential rights, must take place in the period 23 May – 7 June 2018.
There is an over-subscription privilege of up to 8,330,000 shares, which will be implemented if the rights issue is over-subscribed. Those entitled to subscribe are persons who could not be allotted shares due to over-subscription. At full exercise, the over-subscription privilege will bring the Company approximately SEK 25 million before issue costs.
Amendment of the articles of association
As a result of the new share issue, the limits for share capital and number of shares in the articles of association were increased to a minimum of SEK 1,875,000 and maximum of SEK 7,500,000 for share capital, and a minimum of 32,062,500 and maximum of 128,250,000 for the number of shares.
Jörgen Lantto new Chairman of the Board
Jörgen Lantto was elected new Chairman of the Board. Carl Palmstierna left the Board at his own request.
In the period until the 2018 Annual General Meeting, the Board consists of three members – Jörgen Lantto (Chairman), Lars Gullikson and Susanne Holmström. To reflect the reduced number of members, the Board’s annual fees adopted by the previous AGM were adjusted to SEK 350,000 (Chairman SEK 150,000 and the other two members SEK 100,000 each).
For further information, please contact:
myFC Press Office
Phone: +46 (0) 738 09 33 83
MyFC, a Swedish innovation company and market leader in micro fuel cells, develops green energy solutions. Its JAQ Hybrid platform, which co-locates fuel cell and battery to charge smartphones and tablets, was launched in 2017. JAQ Hybrid is the company's third hydrogen-powered product following JAQ and PowerTrekk. It runs on the company's patented fuel consisting of salt, water and reactants. MyFC was founded in 2005 and is part of the group myFC Holding AB. MyFC Holding was listed on NASDAQ | First North in May 2014. Its head office is located in Stockholm and the company's Certified Advisor is Avanza Bank. For more information, visit www.myfcpower.com