Report from the Annual General Meeting in Misen Energy AB (publ) on 29 April 2014
The Annual General Meeting (“AGM”) adopted the presented income statement, the balance sheet, the consolidated income statement and the consolidated balance sheet for 2013.
The AGM adopted the proposal by the Board to carry forward the distributable reserves and resolved to discharge the members of the Board and the Managing Director from liability for the financial year 2013.
The AGM further resolved that the Board shall consist of eight ordinary members with no deputies. All present members of the Board were re-elected and two new members of the Board were elected.
- Tore I. Sandvold
- Dimitrios Dimitriadis
- Hans Lundgren
- Knud H. Nørve
- Sergiy Petukhov
- Andrius Smaliukas
New elected members:
- Oleg Batyuk
- Pavel Prysiazhniuk
The AGM re-elected Tore I. Sandvold as Chairman of the Board.
Updated information about each member of the Board will be posted on the company’s website.
It was resolved that an aggregate fee of EUR 112,000 shall be paid to the board of directors, allocated as follows:
- EUR 30,000 to the Chairman of the Board;
- EUR 25,000 to each of Knud Nørve and Hans Lundgren;
- EUR 10,000 to each of Dimitrios Dimitriadis, Oleg Batyuk and Andrius Smaliukas; and
- EUR 1,000 to each of Sergiy Petukhov and Pavel Prysiazhniuk.
In addition to this amount, a fixed amount of USD 310,000 shall be paid to Tore I. Sandvold in his capacity as executive chairman.
The AGM re-elected the auditing company PricewaterhouseCoopers AB with Johan Palmgren as the responsible auditor. No deputy auditor was elected.
The AGM appointed a nomination committee, comprising Sergiy Probylov (representing Blankbank Investments Limited) as Chairman and members Tore I. Sandvold, Dimitrios Dimitriadis (representing Nellston Holdings Limited) and Sergiy Petukhov (representing Norchamo Limited).
The AGM resolved to authorize the Board of Directors during the period up until the next annual general meeting to, on one or more occasions, resolve to issue shares, convertible debentures and/or warrants, with or without preferential rights for the shareholders, in the amount not exceeding 10 per cent of total number of shares and votes in the company, to be paid in cash, in kind and/or by way of set-off. The AGM took place at the offices of Baker & McKenzie law firm in Stockholm and was attended by 5 shareholders, together representing 49.42 per cent of total number of shares and votes in the company.
For further information please contact:
Göran Wolff, MD
Telephone: +46 31 759 50 72
+46 709 45 48 48
Misen Energy AB (publ) (formerly Svenska Capital Oil AB (publ)) is a Swedish upstream oil and gas company with operations in Ukraine. The company was founded in 2004 and its shares are since 12 June 2007 traded on NasdaqOMX First North.
In 2011, Misen Energy AB (publ) acquired all shares in Misen Enterprises AB and its wholly-owned Ukrainian subsidiary, Karpatygaz LLC, including the rights to 50.01% of the revenue and profit from a gas production project in Ukraine.
The rights and cooperation relating to the gas production is governed by a Joint Activity Agreement among Misen Enterprises AB and Karpatygaz LLC (together 50.01%) and PJSC Ukrgasvydobuvannya (49.99%), the largest private producer of natural gas in Ukraine and subsidiary of the National Joint Stock Company Naftogaz of Ukraine.
The purpose of the joint activity project is to significantly increase production of gas and oil by providing modern technologies via a large-scale investment program.
The registered office of Misen Energy AB (publ) is in Stockholm and the shares are traded on NasdaqOMX First North under identification ticker MISE.
The Certified Adviser of the company at NasdaqOMX First North is Thenberg & Kinde Fondkommission AB.
For further information please visit our website www.misenenergy.se