Bulletin from the Extraordinary General Meeting in Boozt on 24 June 2019
Today, on 24 June 2019, an extraordinary general meeting was held in Boozt AB. A summary of the resolutions adopted follows below. All resolutions were adopted with the required majority.
Resolution on implementation of a long-term incentive program by way of (A) implementation of a performance-based share program; (B) amendment of the Articles of Association; (C) authorization on directed issues of series C shares; (D) authorization on repurchase of series C shares; and (E) resolution on transfer of own ordinary shares
The extraordinary general meeting resolved, in accordance with the proposal from the board of directors, to implement a long-term incentive program in the form of a performance-based share program for the company’s CEO, Group Management and key employees (“LTI 2019”). LTI 2019 means that approximately 30 participants will be offered the possibility to participate in a performance-based share program. Provided that certain performance targets are met or exceeded, participants in LTI 2019 shall be given the opportunity to receive ordinary shares in the company free-of-charge (“Performance Shares”). The maximum number of Performance Shares that may be issued under LTI 2019 amounts to 406,994, which corresponds to a dilution of approximately 0.71 per cent of the company’s share capital and votes after full dilution, calculated on the number of shares that will be added upon full issuance of Performance Shares in connection with LTI 2019.
In order to secure the company's delivery of Performance Shares to the participants under LTI 2019, the extraordinary general meeting also resolved (i) to amend the company's Articles of Association, meaning that a new share class, series C shares, is incorporated in the Articles of Association in order to enable issuance of series C shares under LTI 2019; (ii) to authorize the board of directors to resolve on directed issues of series C shares, whereby the new shares, with deviation from the shareholders' preferential rights, only may be subscribed for by a bank or a securities company at a subscription price which corresponds to the quota value of the shares; (iii) to authorize the board of directors to resolve to repurchase own series C shares; and (iv) to approve transfer of own ordinary shares to the participants under LTI 2019.
Malmö on 24 June 2019
Boozt AB (publ)
For additional information, please contact:
Hermann Haraldsson / Group CEO / Phone: +45 20 94 03 95 / Email: firstname.lastname@example.org
Anders Enevoldsen / Head of IR & Corporate Comm. / Phone: +45 53 50 14 53 / Email: email@example.com
The information was submitted for publication, through the agency of the contact persons set out above, at 11:00 CET on 24 June 2019
Boozt is a leading, fast-growing and profitable Nordic technology company selling fashion online. The Group generated net sales amounting to SEK 2.8 billion in 2018. Boozt offers its customers a curated and contemporary selection of fashion brands, relevant to a variety of lifestyles, mainly through its multi-brand webstore Boozt.com. The company is focused on using cutting-edge, in-house developed technology to curate the best possible customer experience. Besides Boozt.com, the company also runs the webstore Booztlet.com and retail stores Booztlet and Beauty by Boozt in Denmark. For more information, please visit booztfashion.com.