Decisions from Bambuser’s Annual General Meeting April 4, 2019
Bambuser AB (publ) today, Thursday April 4, 2019, held its Annual General Meeting (AGM), which among other items of business elected new Board of Directors, adopted the 2018 income statement and balance sheet, granted the Board of Directors and CEO discharge from liability, and resolved on amendments of the Articles of Association, rights issue and share issue authorization.
The AGM resolved on the income statement and balance sheet for the financial year 2018.
In accordance with the Board's proposal, the AGM resolved that no dividend will be paid.
The AGM discharged the members of the Board of Directors and the Managing Director from liability for the financial year 2018.
The AGM resolved that the Board shall consist of five permanent elected members by the AGM, with one deputy. Fredrik Ramberg, Christer Thordson, Alexander MacIntyre and Mikael Ahlström were re-elected as board members. Fredrik Ramberg was re-elected Chairman of the Board. Mikael Wintzell was elected new board member and Carl Kinell was elected new deputy.
Mikael Wintzell, born 1981, is a well-established profile in the digital industry with experience from Klarna and Payex. Mikael is founding partner and CEO at Wellstreet VC, one of the most renowned players in the Scandinavian tech and startup scene.
Carl Kinell, born 1978, has more than 13 years of professional experience from Corporate Finance of which 12 years was spent in London and Luxembourg. Carl is board member and a shareholder in the family investment company Muirfield Invest AB.
Resolved that the 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.
MAZARS SET Revisionsbyrå AB was re-elected as auditor. The intention is that 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 company's three (3) largest shareholders based on the ownership conditions per day four months before the AGM 2020, shall be entitled to appoint one member each to the Nomination Committee. The names of the members of the Nomination Committee shall be presented on the company's website no later than three months before the Annual General Meeting in 2020.
The AGM resolved that the limits of the Articles of Association shall be amended so that the share capital shall amount to at least SEK 750 000 and to a maximum of SEK 3 000 000 and that the number of shares shall amount to at least 15 000 000 and to a maximum of 60 000 000.
The AGM approved the Board's proposal to increase the company's share capital by a maximum of SEK 1 138 112.30 through a new issue of a maximum of 22 762 246 shares with preferential rights to existing shareholders. One (1) existing share gives one (1) subscription right and two (2) subscription rights entitle the holder to subscribe for three (3) new shares. Record date for determining which shareholders are entitled to subscribe for shares with preferential rights is April 8, 2019. The subscription price amounts to SEK 0.57 per share. Subscription of shares shall take place through simultaneous cash payment during the period from April 10, 2019 to April 24, 2019.
The AGM resolved on an authorization for the Board of Directors to, with or without deviation from the shareholders' preferential rights, on one or more occasions until the next Annual General Meeting, decide on a new share issue, issue of warrants and / or convertibles. The authorization may be used to issue a maximum of 3 793 707 shares.
Certified Advisor
Västra Hamnen Corporate Finance AB | 040-20 02 50 | ca@vhcorp.se
Contact information
Fredrik Ramberg, Chairman of the board | +46 (0) 703 620 815 | fredrik@ramadvisor.se
Maryam Ghahremani, CEO | +46 (0) 708 720 266 | maryam@bambuser.com
or visit: bambuser.com/ir
About Bambuser AB
Bambuser is a Swedish software company that offers B2B solutions for live video. Since 2007, the Company has developed a platform for interactive live video broadcasts enabling live video streaming from mobile phones and web cams to the Internet. The breakthrough occurred in 2010, when the Company’s service was used to report the unrest in Egypt during the parliamentary elections. The following year, videos were produced via Bambuser and used in several television broadcasts throughout the world during the Arab Spring.
Bambuser’s live streaming technology has over the years been installed in more than 50 million devices and millions of news consumers through companies like CNN, BBC, Al Jazeera, Sky News Arabia, etc. Since 2014, Bambuser has chosen to focus on B2B, Business-to-Business, to increase the spread of the company’s products and strengthen its long-term revenue potential. Among the customers are companies as AP, Schibsted/Aftonbladet, NRK & Ilta-Sanomat.