Communiqué from Annual General Meeting of Dannemora Mineral
The annual general meeting of the shareholders of Dannemora Mineral (publ) was held on 30 May 2013. The meeting dealt with the following business:
Allocation of earnings
The annual general meeting adopted the income statements and balance sheets of the Parent Company and the Group for 2012. The meeting also adopted the Board’s proposal for allocation of profits, namely that no dividend be paid for the 2012 financial year.
Discharge from liability
The annual general meeting discharged the Board members and the CEO from liability for the 2012 financial year.
Election of the Board and adoption of Board fees
The annual general meeting decided that the Board would consist of five members. Lennart Falk, Christer Lindberg and Stefan Månsson were re-elected to the Board, and Åke Roos and Michael Rosenlew were newly elected. Nils Bernhard, Nils Sandstedt, Robert Eek and Jarmo Tonteri had declined re-election to the Board.
Lennart Falk was newly elected as Chairman of the Board.
The annual general meeting adopted the following annual Board fees: SEK 300,000 for the chairman and SEK 150,000 to each of the Board members. The Board was also granted SEK 300,000 as a fee for the Deputy Chairman and for committee work, a total annual Board Fee of SEK 1,200,000.
Mandate to issue new shares
The AGM voted to authorise the Board to issue up to 3.5 million class B shares on one or more occasions before the next annual general meeting, with or without preferential rights for shareholders. Payment for newly issued shares shall, on the basis of the Board's decision, be made in cash, by set-off, with property other than cash or, in other cases, in accordance with Chapter 2, Section 5, paragraphs 1-3 and 5 of the Swedish Companies Act.
The purpose of the mandate and the reason for derogating from preferential rights for shareholders is to enable the Company to obtain working capital, develop Riddarhyttan and the Company's other iron ore projects and make company acquisitions and/or acquire operating assets.
The meeting also adopted guidelines for remuneration of key management personnel and for the nomination process prior to the 2014 AGM. The meeting's decisions corresponded with the proposals presented in the Notice of Annual General Meeting 2 May 2013.
For further information, please contact:
Ralf Nordén, President and CEO
Telephone 46 709374891
Niklas Kihl, CFO
Telephone 46295 - 24 44 20, 46730 797 363
Dannemora Mineral AB is a mining and exploration company of which the primary activity is mining operations in the Dannemora iron ore mine. The Company also engages in exploration activities to increase the iron ore base locally and regionally in several areas in Uppland where the potential for finding mineable deposits is considered good.
Dannemora Mineral comprises the Parent Company Dannemora Mineral AB and the wholly owned subsidiaries Dannemora Magnetit AB (responsible for operation of the Dannemora mine and the Group’s exploration activities) and Dannemora Förvaltnings AB (responsible for the property portfolio) and Dannemora Iron Ore Development AB, where parts of the company’s future exploration will be operated.
The Company’s most important asset is the iron deposit in the Dannemora Mine, and activity is focused mainly on the mining of this deposit at present.
The Company is listed on NASDAQ OMX First North, Stockholm, and Oslo Axess. The Company's Certified Adviser on First North is Remium AB.
The Company's independent qualified person is mining engineer Thomas Lindholm, Geovista AB, Luleå. Lindholm is qualified as a Competent Person as defined in the JORC Code based on education and experience in exploration, mining and estimation of mineral resources of iron, base and precious metals.