Decisions from Bambuser’s Extra General Meeting June 14, 2019
The shareholders of Bambuser AB (publ) have today, Friday 14 June 2019, had an Extraordinary General Meeting, where decision was taken to introduce an incentive program through the issue of warrants to senior executives and key persons and the company's board chairman.
In accordance with the Board's proposal, the Meeting resolved to introduce incentive programs through the issue of a maximum of 5,854,172 warrants for senior executives and key employees in the Group, a total of a maximum of 20 persons.
Furthermore, in accordance with proposals from major shareholders, the Meeting resolved to introduce incentive programs through the issue of a maximum of 828,477 warrants to the Company's Chairman.
For the two programs, the warrants are issued at market price calculated in accordance with the Black & Scholes model.
Regarding the incentive program for senior executives and key employees in the Group, subscription of shares exercising the warrants in accordance with the terms and conditions of the options may take place during the following periods: a) a two-week period from the first day of each calendar quarter, with October 1, 2019 as start day and b) from July 1, 2022 through September 30, 2022. With regard to the incentive program for the company's chairman, subscription of shares exercising the warrants in accordance with the terms of the options can take place from the date of registration of the warrants at The Swedish Companies Registration Office until 30 September 2022.
The subscription price for subscribed shares shall amount to 1.03 SEK, which corresponds to 150 percent of the share's average closing price during the period from May 30, 2019 to June 13, 2019, according to Nasdaq First North Stockholm's official list. Each warrant entitles the holder to subscribe for one (1) new share in Bambuser. Therefore, with full exercise of the warrants, the company's share capital will increase by a total of SEK 334,132.45 (with SEK 292,708.60 with respect to the program for the management and others and SEK 41,423.85 for the program for the chairman).
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 broadcasting that enables live streaming from mobile phones and webcams to the Internet and Bambuser's live streaming technology has, over the years, been reached by millions of news consumers through companies such as CNN, BBC, Al Jazeera, Sky News Arabia.