Bulletin from the Extraordinary General Meeting of Micro Systemation AB (publ)
At the Extraordinary General Meeting of Micro Systemation AB (publ) (“MSAB”) on 1 October 2024, the following decisions were made.
Implementation of a long-term incentive program (LTIP 2024)
The Extraordinary General Meeting resolved, in accordance with the Board of Directors' proposal, to implement a long-term incentive program ("LTIP 2024") for the senior management and certain key employees of the group, a maximum of 20 employees. The main purpose of LTIP 2024 is to promote a personal long-term ownership in MSAB and provide incentives for increased commitment and performance among the participants. The Board of Directors intends to annually propose an incentive program with a corresponding structure.
The program, which involves a requirement for personal investment, consists of performance shares and may include up to a maximum of 637,380 shares of series B in MSAB, equivalent to approximately 3.3 per cent of the share capital and 2.4 per cent of the votes in MSAB, before any adjustments.
Allocation of performance shares is divided into two separate programs, running in parallel, with different performance requirements, implying that one program can lead to allocation and the other program not. The programs are weighed differently. Program (a) can give thirty per cent of the total allocation and Program (b) can give seventy per cent of the total allocation. The performance requirement for Program (a) is based on the average total shareholder return of the MSAB share of series B exceeding 15 per cent during the term of the program. If the performance requirement is not achieved, no allocation will be made. The performance requirement for Program (b) is based on an average annual EPS Growth per series B share in MSAB during the period 1 January 2024 until 31 December 2026, with the full-year 2023 adjusted EPS value as base value. For minimum allocation of one performance share, the average EPS Growth shall be at least 5 per cent and is increased in a linear manner to full allocation at an average EPS Growth of 15 per cent.
The Extraordinary General Meeting resolved to approve the transfer, free of charge, of Class B shares that MSAB already holds, to the participants as performance shares.
Full terms and conditions can be found on MSAB’s website https://www.msab.com/.
For more information, please contact:
Jesper Kärrbrink, Chairman of the Board. Phone: +46 70 536 26 36, email: jesper@karrbrink.se
Tony Forsgren, CFO. Phone: + 46 70 686 06 00, email: tony.forsgren@msab.com
About MSAB:
MSAB is a world leader in forensic technology for extracting and analyzing data in seized mobile devices. The company develops high-quality and easy-to-use software for law enforcement organizations, such as police, defence, and customs. The products, which have become a de facto standard for securing evidence in criminal investigations, can be supplemented with reporting tools and a large range of training with certifications within a holistic method for forensic science. The company serves customers in more than 100 countries worldwide, through its own sales offices and through distributors. MSAB is listed on Nasdaq Stockholm under the ticker name: MSAB B. www.msab.com
The information was submitted for publication, through the agency of the contact persons set out above, on 1 October 2024, 11:00 p.m. CEST.