Decision on Extraordinary General Meeting in QuickCool AB (publ)
At a board meeting on 17 January the Board of Directors of QuickCool AB (publ) ("Quickcool" or "Company") decided to call for an extraordinary general meeting on 18 February 2019 at 17.00. (Notice will be issued in a separate press release).
The Board of Directors proposes that the EGM:
Decides to change the articles of association so as to enable the aggregation of shares and decides on reducing the share capital. The board of Directors proposes that the limits of the articles of association for the share capital (§ 4) and the company's shares (§ 5) are amended in accordance with the following:
§ 4 Current wording:
The share capital shall be at least SEK 9 562 500 and a maximum of SEK 38 250 000.
§ 4 is proposed to have the following new wording:
The share capital shall be at least SEK 1 593 750 and a maximum of SEK 6 375 000.
§ 5 Current wording:
The number of shares shall be at least 15 937 500 and no more than 63 750 000.
§ 5 is proposed to have the following new wording:
The number of shares shall be at least 1 593 750 and no more than 6 375 000.
The Board of directors proposes that the general meeting: decides on the aggregation of the company's shares in the ratio 1:10, which means that ten (10) existing ordinary shares are exchanged for one (1) new share of the same type. Aggregation of shares is intended to result in a more appropriate number of shares for the company, taking into account the movements of the company's shares. The decision may be enforced provided that an agreement has been reached with one or more shareholders to provide odd shares free of charge, and through Euroclear Sweden AB, for shareholders whose shareholding is not evenly divided by ten (10), so that their respective shareholdings will be evenly divisible by ten (10).
The board is proposed to be authorized to decide on the record date for the reverse split.
The Board of directors, or the appointee of the Board, is authorized to make the minor changes to the decision that may prove necessary in connection with the registration of the decision with the Swedish Companies Registration Office and Euroclear Sweden AB, or because of other formal requirements.
The Board of directors proposes that the EGM decides to reduce the share capital of the company for the provision to unrestricted equity. The reduction is proposed to be at least 11 603 640 and not more than 12 303 640. The decrease should result in a new quota value of SEK 1 per share, which is why the reduction amount depends on the share capital at the time of registration.
The reduction is proposed without the withdrawal of shares.
The Board's proposal is submitted to an extraordinary general meeting on 18 February 2019 for decision. A notice to the EGM will be published on Monday in a separate press release.
For additional information, please contact:
Fredrik Radencrantz, CEO
Phone: 046-286 38 40
E-mail: fredrik.radencrantz@quickcool.se
This information is such that QuickCool AB is required to make public in accordance with the EU’s market abuse regulation (MAR). The information was made publicly available by the Company’s contact person on 18 January, 2018.
QuickCool is a Swedish medical technology company, whose business concept is to save lives and prevent brain damage in acute ischemia (Inadequate blood supply to the brain) by developing and providing a unique and globally patented cooling system, the QuickCool® SYSTEM. QuickCool is active in the fast-growing market, Targeted Temperature Management (TTM), for brain-protective cooling treatment of patients with e.g. acute cardiac arrest and stroke. QuickCool’s solution protects the brain by cooling in the nasal cavity and thus takes advantage of the innate heat exchanger in the nose. QuickCool’s Intranasal method offers gentle and uninterrupted cooling treatment for sedated patients. QuickCool is listed on Spotlight Stock Market and conducts its business at Ideon Science Park in Lund. For more Information, please refer to www.quickcool.se
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