Decisions from Bambuser’s Annual General Meeting April 21, 2020
Today, Tuesday April 21, 2020, Bambuser AB held its Annual General Meeting (AGM) which, inter alia, elected new Board of Directors, adopted the 2019 income statement and balance sheet, granted the Board of Directors and CEO discharge from liability and resolved on amendments of the Articles of Association and share issue authorization.
The AGM resolved on the income statement and balance sheet for the financial year 2019.
In accordance with the Board's proposal, the AGM resolved that no dividend will be paid.
The AGM discharged the members of the Board and the CEO from liability for the financial year 2019.
The AGM resolved that the Board shall consist of six permanent elected members, without deputy board member. Mikael Ahlström, Carl Kinell, Alexander MacIntyre and Mikael Wintzell were re-elected as board members. Joel Citron and Karin Karlström were elected new board members. Joel Citron was elected new Chairman of the Board.
Joel Citron, born 1962, is the CEO of New York-based investment company Tenth Avenue Holdings and has over 35 years of experience in business management and investments. He is currently chairman of Tenth Avenue Commerce, board member of several companies including Evolution Gaming Group AB (publ), active in non-profit boards and has previously served on numerous public and private boards in Europe and the United States. Joel holds a Bachelor of Science in Business administration and a Masters of Arts in Economics from the University of Southern California.
Karin Karlström, born 1972, holds a MSc in Economics and Business Administration degree from the Stockholm School of Economics. For 18 years, Karin was employed at Carnegie Investment Bank AB where she worked with advising investors and companies in the telecom, technology and media sector on public and private transactions. She then worked for five years with mergers and acquisitions and investments at Telia Company AB. Since about a year, Karin has been working as an independent advisor and board member.
The AGM resolved that remuneration to the Chairman of the Board shall amount to SEK 150,000 and SEK 50,000 to other board members who are not employed by the Company. Fees to the auditors shall be paid according to the approved invoice.
MAZARS SET Revisionsbyrå AB was re-elected as the auditing. Michael Olsson will continue to be the Company's chief auditor.
The AGM resolved on guidelines for the appointment of a Nomination Committee meaning that the Chairman of the Board shall, prior to the election of the Board at the 2021 AGM, contact the Company's five (5) largest shareholders on the basis of the ownership conditions per day four months before the AGM, which shareholders shall be entitled to appoint one member each to the Nomination Committee, and the Chairman of the Nomination Committee shall, unless its members agree otherwise, be the member appointed by the largest shareholder in terms of votes. The names of the members of the Nomination Committee shall be presented on the Company's website no later than three months before the 2021 AGM.
The AGM resolved, in accordance with the Board’s proposal, on an authorization for the Board to, with or without deviation from the shareholders' preferential rights, on one or more occasions until the next AGM, decide on new issue of shares, warrants and/or convertibles in the Company. The total number of shares covered by such new issues may in total correspond to a maximum of ten (10) percent of the shares in the Company at the time the authorization is used.
The AGM resolved, in accordance with the Board's proposal, to amend paragraph 9 of the Articles of Association by reasons of rules on shareholders’ rights.
Contact information
Maryam Ghahremani, CEO | +46 8 400 160 02 | maryam@bambuser.com
or visit bambuser.com/ir
Certified Advisor
Erik Penser Bank AB | +46 8 463 83 00 | certifiedadviser@penser.se
Bambuser was founded in 2007 as the world's first company with a platform for interactive mobile live video broadcasting and is a leading supplier in the live video segment. In 2019, Bambuser introduced Live Video Shopping, which enables live shopping directly on the brand's website. Bambuser is listed on the Nasdaq First North Growth Market and is headquartered in Stockholm.