Summary from the Extra General Meeting of Cherry AB (PLC)
A Cherry AB (PLC) Extra General Meeting was held on March 16, 2016 at 4.30 PM, at the premises of law firm Setterwalls, Sturegatan 10, Stockholm.
Election of new member of the Board of Directors
It was decided in accordance with the Nomination Committee proposal that until the end of the next AGM the Board should consist of seven Board Members elected by the General Meeting.
It was decided in accordance with the Nomination Committee proposal that the Board shall be supplemented by Johan Moazed until the end of the next Annual General Meeting.
Authorisation of new share issue
It was decided unanimously, in accordance with the Board’s proposal, to increase the share capital in Cherry AB by a maximum of SEK 85 937,50 by a new issue of a maximum of 156,250 class B shares, each with a quota value of SEK 0.55.
The right to subscribe to the shares, superseding the preferential rights of other shareholders, was granted to Tykkox Investments Ltd., which was the seller of the shares in Game Lounge Ltd. Payment for the subscribed shares shall be made by offsetting the seller's claim on the additional consideration (€2m) under the purchase agreement.
The Board may decide to pay the entirety or part of the additional purchase with cash.
Translation
This is a translation of the Swedish original.
Complete minutes from the EGM are available on the company’s website in Swedish.
http://cherry.se/en/shareholder-meetings-and-minutes/
Cherry AB
The Board of Directors
Stockholm, March 17, 2016
For further information, please contact:
Fredrik Burvall, CEO Cherry AB (Plc)
Telephone +46 8-514 969 52, fredrik.burvall@cherry.se
Cherry in brief
Cherry is a Swedish gaming company established in 1963 specialized in online casinos and lotteries (www.CherryCasino.com, www.EuroLotto.com, www.EuroSlots.com, www.SpilleAutomater.com, www.NordicSlots.com, www.NorgesSpill.com, www.SveaCasino.com, www. SuomiAutomaatti.com, www.Sunmaker.com, www.SunnyPlayer.com and www.Kingplayer.com), affiliate business through Game Lounge and games development (www.Yggdrasil.com), through subsidiaries in Malta. Cherry is the market leader in casinos in restaurants and nightclubs in Sweden. Cherry employs around 750 people and has more than 3,800 shareholders. The Company's B-shares are listed on AktieTorget.