Announcement from LeoVegas 2019 Annual General Meeting
The 2019 Annual General Meeting (AGM) of LeoVegas AB (publ) (“LeoVegas” or “the Company”) was held today, 29 May 2019, at which the shareholders approved the following resolutions.
Adoption of the income statement and balance sheet
The AGM resolved to adopt LeoVegas’ income statement and balance sheet as well as the consolidated income statement and consolidated balance sheet.
Distribution of profit
The AGM resolved, in accordance with the Board of Directors’ proposal, that of the amount available for distribution to the shareholders, totalling EUR 18,766,288, SEK 121,983,564 shall be distributed to the shareholders, corresponding to an amount of SEK 1.20 per share, and that the remainder, EUR 6,894,755, shall be carried forward. In addition, it was resolved, in accordance with the Board of Directors’ proposal, that dividends will be paid out half-yearly in the amount of SEK 0.60 per share, and that the first record date for entitlement to the dividend shall be 3 June 2019, whereby dividends will be paid out via Euroclear Sweden AB on 7 June 2019, and that the second half-yearly dividend record date shall be 3 December 2019, whereby dividends will be paid out via Euroclear Sweden AB on 6 December 2019.
Discharge from liability
The board members and CEO were discharged from liability for the 2018 financial year.
Election of the board of directors and auditor, and directors’ and auditors’ fees
The AGM resolved that the Board of Directors shall consist of five directors and no deputy directors. It was resolved that the Company shall have a chartered auditing firm as auditor.
In addition, it was resolved in accordance with the Nomination Committee’s recommendation that directors’ fees shall amount to a total of SEK 1,900,000 including fees for committee work (preceding year: SEK 2,500,000) and shall be paid out to the directors and committee members in the following amounts:
- SEK 300,000 for each non-executive director and SEK 600,000 for the Chairman of the Board, provided that he is not an employee of the Company;
- SEK 50,000 for each non-executive director serving as a member of the Remuneration Committee, and SEK 100,000 for the Remuneration Committee chair, provided that he or she is not an employee of the Company; and
- SEK 50,000 for each member of the Audit Committee and SEK 100,000 for the Audit Committee chair.
In addition, it was resolved that the auditor’s fees shall be paid in accordance with approved invoices.
Mårten Forste, Robin Ramm-Ericson, Anna Frick and Tuva Palm were re-elected as directors on the Board. Fredrik Rüden was elected as a new director. Mårten Forste was re-elected as Chairman of the Board. Per Brilioth, Barbara Canales and Patrik Rosén declined re-election.
PricewaterhouseCoopers AB was re-elected as the Company’s auditor. PricewaterhouseCoopers AB has announced that Authorised Public Accountant Aleksander Lyckow will continue as auditor-in-charge.
Principles for appointment of the nomination committee
The AGM resolved to adopt principles for appointment of the Nomination Committee in accordance with the Nomination Committee’s recommendation (unchanged principles from the preceding year in all essential respects).
Guidelines for remuneration of senior executives
The AGM resolved in accordance with the Board’s proposal to adopt guidelines for remuneration of senior executives (unchanged guidelines from the preceding year in all essential respects).
Resolution on employee incentive programme
At the AGM, the Board of Directors – after informal contacts with major shareholders – decided to withdraw its proposal for decision on a warrant programme through the issuance of a maximum of 1,000,000 warrants.
For detailed terms regarding the above-described resolutions at the AGM, please refer to the complete proposals, which are available on the Company’s website: www.leovegasgroup.com.
For further information, please contact:
Mårten Forste, Chairman of the Board
+46 (0) 8 410 367 66, marten.forste@leovegas.com
Gustaf Hagman, Group CEO
+46 (0) 8 410 367 66, gustaf.hagman@leovegas.com
Philip Doftvik, Director of Investor Relations and Corporate Finance
+46 73 512 07 20, philip.doftvik@leovegas.com
About LeoVegas Mobile Gaming Group
LeoVegas’ passion is “Leading the way into the mobile future”. LeoVegas is the premier GameTech company and is at the forefront of using state-of-the-art technology for mobile gaming. A large part of this success can be credited to an extreme product and technology focus coupled with effective and data-driven marketing. Technology development is conducted in Sweden, while operations are based in Malta. LeoVegas offers casino, live casino and sports betting, and operates two global and scalable brands – LeoVegas and Royal Panda – as well as a number of local brands in the UK. LeoVegas is a global group in which LeoVegas AB (publ) is the parent company. LeoVegas AB (publ) does not conduct any gaming operations; rather, operating activities are conducted by subsidiaries within the Group. The company’s shares are listed on Nasdaq Stockholm. For more about LeoVegas, visit www.leovegasgroup.com.