ReadSoft AB Annual General Meeting 2009
At ReadSoft AB's annual meeting today, the following resolutions were among those passed:
Election of Board of directors
The Directors Göran E Larsson (ordf), Lennart Pihl, Anna Söderblom, Lars Appelstål and Håkan Valberg were re-elected for a new period. Peter Gille was elected new Director.
Dividend
The annual meeting decided on no dividend for the year 2008.
Nomination committee
The meeting decided that a nomination committee shall be appointed with the assignment in connection with next year's annual meeting to submit proposals, among others, with respect to election of the Board of Directors, compensation to the Board and the auditors and election of an election committee. The chairman of the Board shall invite minimum three and maximum five of largest shareholders as per 30 September 2009 to appoint one representative each and to together with the chairman comprise the Nomination Committee.
Incentive program
The meeting decided to approve the resolution from the board on an incentive program for employees. Right to subscribe to the convertibles shall be leading employees and key employees in the ReadSoft group. The program will consist of maximum 350,000 convertibles and one convertible may be conversed to one B-share. Conversion to B-shares may be made from December 9, 2011 to May 21, 2012. The conversion price shall correspond to 125 % of the average price paid for the B -share in the company on the Stockholm stock exchange's official list during the period April 23 - April 29, 2009. At full conversion the company's share capital will increase with SEK 35,000 and the dilution will be approximately 1.1 percent of the share capital and 0.8 percent of the votes.
Authorization of the Board to decide on new issues of shares
The meeting decided to authorize the Board of Directors to, at one or several occasions, up to the next annual meeting 2010, execute new issues of shares with maximum 3,200,000 shares, series B. The new shares may be issued with deviation of shareholders' preferential rights. The reasons for the Board to be able to deviate from shareholders' preferential rights are that financing may be required in connection with future acquisitions with payment in shares and/or issue of new shares with payment in capital contributed in kind.
Purchase and transfer of own shares
The meeting decided to authorize the Board of Directors, at one or several occasions, up to the next annual meeting 2010, decide on purchase and transfer of own shares. Purchase may be made of maximum a number of shares so that the company's possession of shares at each point in time does not exceed five % of the total number of shares in the company. Transfer may be made without the shareholders preferential rights on NASDAQ OMX Stockholm and to third parties in connection with acquisition of companies or businesses. The purpose of the authorization is to give the Board of Directors possibility to adjust the company's capital structure and to enable acquisition financing through use of own shares.
For additional information please contact
ReadSoftAB
Jan Andersson, CEO, ReadSoft
Phone: +46 708 - 37 66 00
Jonna Opitz, Vice President, Corporate Communications
Phone: +46 733 - 37 86 68
About ReadSoft
ReadSoft is a leading global provider of software solutions for Document Automation. ReadSoft's software enables companies to automate document processes such as data entry, classification, ERP matching, workflows, e-invoicing etc. The results are faster and less expensive document processing, and increased control. ReadSoft is by far the world's number one choice for invoice automation solutions. Specialized solution labs for SAP, Oracle, Microsoft and Capture processes ensure cutting edge solutions with great customer value. Since the start in 1991, ReadSoft has grown to a worldwide group with operations in 16 countries on five continents and a network of local and global partners. The head office is located in Helsingborg, Sweden and the ReadSoft share is traded on the Nordic Stock Exchange Small Cap list. For more information about ReadSoft, please visit www.readsoft.com.