Press release from 2020 Annual General Meeting
MQ Holding AB (publ) held its Annual General Meeting on 22 January 2020 in Gothenburg. At the AGM, the income statements and balance sheets of the Parent Company and the Group for the 2018/2019 financial year were approved. The AGM also approved the Board’s proposal that no dividend be paid for the 2018/2019 financial year in order to create scope for strengthening the company’s development moving forward. The available profit of SEK 60,778,637 at the time of the Annual General Meeting will be carried forward.
The Board and CEO were discharged from liability for the 2018/2019 financial year.
The AGM resolved that, until the next Annual General Meeting, the Board will comprise six members. Claes-Göran Sylvén, Bengt Jaller, Arthur Engel, Anna Engebretsen, Annika Rost and Therese Hillman were elected as Board members. Claes-Göran Sylvén was re-elected Chairman of the Board. Bengt Jaller was re-elected Deputy Chairman. Mernosh Saatchi declined re-election.
The AGM also approved an annual Board fee totalling SEK 1,470,000, of which SEK 420,000 for the Chairman and SEK 210,000 for each of the other Board members. Remuneration for Committee work was approved to be SEK 60,000 for work on the Audit Committee and SEK 80,000 to the Chairman of the Audit Committee. Remuneration Committee work was approved to be SEK 25,000 and SEK 35,000 to the Chairman.
Approved on guidelines for remuneration to senior executives and a decision on the establishment of a new Nomination Committee for the Annual General Meeting 2021.
The AGM approved amendments of the Articles of Association.
The AGM approved a resolution on a 1:10 reverse share split of the company's shares and amendment of the Articles of Association to enable the reverse share split. The resolution be supported by shareholders representing at least two thirds of both the votes cast and the shares represented at the Annual General Meeting.
The AGM approved resolutions on the establishment of a subscription option programme for the Group Management in the MQ Group, including resolutions on the issue and transfer of subscription options. The resolution be supported by shareholders representing at least nine tenths of both the votes cast and the shares represented at the Annual General Meeting.
For further information, please contact:
Ola Wahlström, CFO, telephone +46 (0) 31-388 80 00
This information is information that MQ Holding (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set above on January 22, 2020, at 16:30 CET.
MQ Holding AB owns and runs retail stores specialised in fashion and accessories under the three business areas Marqet, MQ and Joy. The transformation to convert all MQs stores into concept stores under the name Marqet has begun. Marqet is a concept store chain that offers women's and men's fashion and new exciting product categories adapted for a contemporary work-life. MQ is Sweden's largest brand chain with a mix of own and external brands and offers a wide range of apparel for men and women with a high interest in fashion. Joy focuses on midlife women interested in fashion, which keeps valuing high quality, fit and comfort. The three business areas comprise 159 stores and e-commerce. The MQ Holding stock has been listed at NASDAQ OMX Stockholm since June 18, 2010. For further information, see www.mq.se