Bulletin from the extraordinary general meeting in InCoax Networks AB
Today, on 19 October 2022, an extraordinary general meeting was held in InCoax Networks AB. The meeting was held by advance voting (postal vote) only in accordance with temporary legislation. A summary of the adopted resolutions follows below. All resolutions were adopted with the required majority of votes.
Resolution on amendment of the Articles of Association
The meeting resolved in accordance with the proposal from the board of directors to amend §§ 4-5 of the Articles of Association, resulting in a change of the limits for the share capital and the number of shares in the company.
Resolution on approval of the board of directors’ resolution on rights issue of shares
The meeting resolved to approve the board of directors’ resolution of 13 September 2022 on a rights issue of a maximum of 25,695,885 shares (the “Rights Issue”). Upon full subscription in the Rights Issue, the company will be provided with approximately SEK 50,1 million, before issue costs. Those who are registered as shareholders in the company on the record date 25 October 2022 will receive one (1) subscription right per existing share. Eight (8) subscription rights entitle to subscription of five (5) shares at a subscription price of SEK 1,95 per share. Upon full subscription of all shares that are issued in the Rights Issue, the number of shares in the company will increase by a maximum of 25,695,885 shares from 41,113,418 shares to 66,809,303 shares and the share capital will increase by a maximum of SEK 6,423,971.25 from SEK 10,278,354.50 to SEK 16,702,325.75. The subscription period in the Rights Issue runs during the period 27 October 2022 – 10 November 2022.
Resolution on authorization for the board of directors to resolve upon new issue of additional in case of oversubscription (over-allotment issue)
The meeting resolved in accordance with the proposal from the board of directors to authorize the board of directors to, at one occasion, not later than 31 December 2022, resolve upon new issue of additional shares in case of oversubscription in the Rights Issue. The purpose of the authorization and the reason for the deviation from the shareholders’ preferential rights are to be able to accommodate Svenska Defence AB’s interest to, in the event of a possible oversubscription in the Rights Issue, fulfill its undertaking to subscribe for shares in the Rights Issue in accordance with a submitted subscription undertaking as well as the possibility of raising additional proceeds to the company (so called over-allotment issue). If the over-allotment issue is fully exercised, the company’s share capital will increase by a maximum of SEK 1,923,076.75 through a new issue of a maximum of 7,692,307 shares, at a subscription price of SEK 1,95 per share, which corresponds to the subscription price in the Rights Issue. The right to subscribe for the new shares shall, with the deviation from the shareholders’ preferential rights, only vest in Svenska Defence AB, which has submitted a subscription undertaking in the Rights Issue.
Gävle on 19 October 2022
InCoax Networks AB (publ)
For additional information:
Jörgen Ekengren, CEO InCoax Networks AB
jorgen.ekengren@incoax.com
+46 73- 899 55 52
This information was submitted for publication, through the agency of the contact person set out above, on 10:00 CEST on 19 October 2022.
About InCoax Networks AB
InCoax Networks AB (publ) develops systems for the reusing of buildings' existing infrastructure for broadband connection. We offer multi-gigabit network solutions to the world's leading telecom and broadband operators. For additional information about the company, visit www.incoax.com. Augment Partners AB, phone number +46 8-604 22 55, info@augment.se, is the Company's Certified Adviser.