Announcement from Toadman Interactive's extra general meeting
PRESS RELEASE
Stockholm, 12 December 2019
The extra general meeting of Toadman Interactive AB (publ) (”Toadman” or the “Company”) was held today on 12 December 2019 in Stockholm and the following resolutions were passed by the meeting.
RESOLUTION REGARDING APPROVAL OF THE BOARD OF DIRECTORS' RESOLUTION TO ISSUE SHARES WITH DEVIATION FROM THE SHAREHOLDERS' PREFERENTIAL RIGHTS
In accordance with previously announced information, the board of directors resolved on 27 November 2019 on a new share issue, with deviation from the shareholders' preferential rights, subject to the extraordinary general meeting's subsequent approval. The extraordinary general meeting has today decided to approve the board of directors’ decision to issue a maximum of 9,117,640 shares.
The new share issue is carried out to partly finance the acquisition of Sold Out Sales & Marketing Limited.
In total, the share issue will result in a dilution of approximately 29.2 percent of the number of shares and votes in the Company after the share issue, through an increase in the number of outstanding shares by 9,117,640 to 31,209,159. The share capital will increase by SEK 364,705.60 from SEK 883,660.76 to SEK 1,248,366.36. Of the 9,117,640 shares which are issued, 6,345,00 shares are delivered to investors who have acquired shares in the directed share issue which was announced by the board of directors on 27 November 2019 and 2,772,640 shares comprise of consideration in the acquisition of Sold Out Sales & Marketing Limited.
ELECTION OF NEW DIRECTOR
The extra general meeting resolved that the board of directors shall consist of five directors without deputies.
It was resolved to elect Gunnar Lind as new director and that he shall receive the same remuneration as the other paid directors in accordance with the annual general meeting's resolution, whereby remuneration shall be paid with SEK 50,000. All other directors Alexander Albedj (chairman), Robin Flodin, Marie-Louise Hellström Gefwert and Sven Folkesson remain.
For further information about Gunnar Lind and detailed terms regarding the above resolutions at the extra general meeting and the acquisition of Sold Out Sales & Marketing Limited as a whole, reference is made to the notice to the general meeting and press releases that are available on the Company's website, www.toadmaninteractive.com.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Robin Flodin, CEO
Phone: +46 70 477 06 34
Alexander Albedj, Chairman
Phone: +46 76 221 30 75
alexander.albedj@thetoadman.com
ABOUT TOADMAN
Toadman develops and markets PC, console and mobile games for the global games market. The Group employs 100+ game developers and creates their own original IP as well as consult for other game publishers around the world through their Game Development Division. In addition, the Group’s Marketing Division has helped to release 1,500+ titles, many are world renowned brands such as Call of Duty, Destiny, Dark Souls and Rage. The Group has its headquarter in Stockholm, Sweden with 200 employees in 6 offices world-wide.
Nasdaq First North Growth Market Ticker Symbol: TOAD
Certified Adviser: Eminova Fondkomission AB, Phone: +46 8 684 211 00
Tags: