Annual General Meeting of Endomines AB (publ) on 22 May 2018
Endomines AB, Stock Exchange Release 22 May 2018 at 18:00 CEST
The Annual General Meeting (the “AGM”) of shareholders of Endomines AB (publ) was held on 22 May 2018.
Appropriation of Endomines AB’s (publ) loss and discharge from liability for members of the Board of Directors and the CEO
The AGM resolved to adopt the Profit and Loss Statement and the Balance Sheet for the parent company as well as the Consolidated Profit and Loss Statement and the Consolidated Balance Sheet for the Group for 2017. The AGM resolved that no dividend is paid for 2017 and that the company’s funds are allocated so that SEK -88,106,747 is carried forward, consisting of share premium reserve of SEK 324,791,076, loss brought forward of SEK 360,369,697 and the loss for the year of SEK 52,528,126.
The members of the Board of Directors and the CEO were discharged from liability for the financial year 2017.
Articles of Association
The AGM resolved to amend Section 7 in the Articles of Association to have the following wording:
”The company shall have one or two auditors with a maximum of equivalent number of deputies, or one registered auditing firm.”
Board of Directors
The AGM resolved that the Board of Directors should consist of five members. Michael Mattson, Rauno Pitkänen and Staffan Simberg were re-elected as members of the Board of Directors, and Thomas Hoyer and Ingmar Haga were elected as new member of the Board of Directors. In addition, Ingmar was elected as Chairman of the Board of Directors.
Remuneration to the board of directors
The AGM further resolved that the remuneration for the Chairman of the Board of Directors shall be SEK 350,000 per year, and SEK 200,000 to each other member of the Board of Directors per year (no remuneration shall be paid to any members of the Board of Directors employed by the company), that remuneration for members of the Board of Directors’ work in the Remuneration Committee, Audit Committee and Technology and Security Committee set up by the Board of Directors, shall be an unchanged amount of SEK 25,000 per Board member per year for each such committee, that remuneration to the Chairman of the Audit Committee shall be an unchanged amount of SEK 50,000 per year, and a that a meeting remuneration of SEK 3,000 shall be paid for each physical board meeting and participating board member.
The AGM resolved to re-elect the registered auditing firm PricewaterhouseCoopers AB as auditor for the period until the end of the Annual General Meeting 2019.
Guidelines for remuneration to senior executives
The AGM resolved to approve to Board of Directors’ proposal for guidelines for remuneration to senior executives.
Authorization for the Board of Directors to resolve on new issue of shares, warrants and convertibles
The AGM resolved to authorize the Board of Directors during the period up to the next Annual General Meeting to, on one or several occasions, resolve on the issuance of new shares, warrants and/or convertibles with or without deviation from the shareholders’ pre-emption right, through payment with cash, with non-cash consideration or set-off.
Link to the CEO presentation will be available on the Company´s website, www.endomines.com.
Saila Miettinen-Lähde, CEO, +358 40 548 36 95, saila.miettinen-lahde(at)endomines.com
The information was submitted for publication, through the agency of the contact persons set out above, at 18:00 CEST on 22 May 2018.
Endomines is a mining and exploration company with its primary focus on gold. The Company operates a gold mine in Pampalo, has exploration activities along the Karelian Gold Line in Eastern Finland and develops mining operations in Idaho, USA. Endomines aims to improve its long-term growth prospects by increasing its exploration activities and through acquisitions. Endomines aims to acquire deposits that are situated in stable jurisdictions and can be brought to production rapidly with limited investments.
The shares trade on Nasdaq Stockholm (ENDO) and Nasdaq Helsinki (ENDOM).