Annual General Meeting of InCoax Networks AB
Today, June 13, 2024, the annual general meeting of InCoax Networks AB was held. Below is a summary of the decisions that were made. All decisions were made with the required majority.
Decision on the adoption of the accounts and allocation of results
The annual meeting decided to adopt the income statement and balance sheet. The meeting also decided to dispose of the company's results according to the board's proposal in the annual report, meaning that no dividend will be paid for the fiscal year 2023 and that available funds be balanced in new account.
Discharge from liability for board members and the CEO
The annual meeting decided, as recommended by the auditor, to grant discharge from liability to the board members and the CEO for the fiscal year 2023.
Election and remuneration of the board and auditors
The meeting decided on the re-election of Peter Agardh, Anders Nilsson, Pär Thuresson, Tobias Lennér, and Filip Näsholm. The meeting decided on the re-election of Peter Agardh as chairman of the board.
The meeting decided to reappoint the registered auditing firm KPMG AB as auditor with Niklas Antonsson as the principal auditor.
The meeting decided that a board fee shall be paid with SEK 200,000 to the chairman of the board (unchanged), and SEK 150,000 to each of the other board members (unchanged). No fee is paid for committee work.
It was further decided that remuneration to the auditor shall be paid according to customary norms and approved invoice.
Decision on instructions and working order for the nomination committee
The meeting decided that a nomination committee should be appointed before the upcoming election and remuneration. The nomination committee shall consist of four members - a representative for each of the three largest shareholders as of the last banking day in September, as well as the chairman of the board. The meeting further decided to adopt instructions and working orders for the nomination committee to apply until a decision on amendment is taken by the general meeting.
Decision on authorization for issues
The meeting decided to authorize the board, until the next annual meeting, on one or more occasions, with or without deviation from the shareholders' preferential rights and with or without conditions about contribution in kind, set-off, or other conditions, to decide on the issuance of shares, convertibles and/or warrants. The reason for allowing deviation from shareholders' preferential rights is to enable the company to acquire working capital, to conduct corporate acquisitions or acquisitions of business assets, and to enable issuance to industrial partners within the framework of collaborations and alliances. The total number of shares that may be issued (or alternatively added through conversion of convertibles and/or exercise of warrants) according to the authorization shall amount to no more than 46,353,040 shares, which corresponds to a dilution of about 30 percent calculated on the current number of shares. To the extent that a rights issue takes place with deviation from shareholders' preferential rights, the rights issue shall be carried out on market terms.
Lund June 13, 2024
InCoax Networks AB (publ)
The information was submitted for publication, through the agency of the contact person set out below, at 11.00 CEST on June 13, 2024.
For additional information, please contact:
Jörgen Ekengren, CEO, InCoax Networks AB
jorgen.ekengren@incoax.com
+46 73 899 55 52
About InCoax Networks AB
InCoax Networks AB (publ) re-purposes existing property coaxial networks in fiber and fixed wireless access (FWA) extension deployments for Communication Service Providers (CSP) globally. The technology is a high performance, future proof, reliable and cost-effective complement, that reduces installation time and improves take-up rate, to boost digital inclusion and Internet access for all.
To keep updated on corporate information, visit incoax.com.
Vator Securities AB, Kungsgatan 34, 7tr, 111 35 Stockholm, tel. +46 8-5800 6599, ca@vatorsec.se, is acting as the company’s Certified Adviser.