Extraordinary general meeting of Setra

On 1 October Setra Group AB (publ) held an extraordinary general meeting (EGM) at the company's head offices at Gårdsvägen 18 in Solna. The EGM passed resolutions on amendments of the company's articles of association and authorised the board to make decisions on new issues of shares in connection with future acquisitions.

At a board meeting following the EGM, board member Hans Karlander was appointed as the new chairman of Setra. The previous chairman, Gunnar Olofsson, will continue to serve as a director on the board. The board and the owners have been in agreement to return to the order that applied when Setra was established, namely, to have a chairman who is independent in relation to the principal owners.

Resolutions regarding amendments to the articles of association
The EGM resolved to make amendments to the articles of association in accordance with the board's proposal. The amendments to the articles of association entail the following, among other points:
- That preferred shares will be converted to common shares at a 1:1 ratio, so that the company has only one class of stock
- That a stock split will be carried out, whereby one old share in the company will be split into four new shares
- That the special majority requirements for the validity of resolutions at general meetings will be eliminated

Resolution concerning authorisation for the board to decide on new issues of shares in connection with future acquisitions
The EGM authorised the board to, on one or more occasions up until the time of the next Annual General Meeting, make decisions on new issues of shares. Such authorisation shall enable directed issues corresponding to a maximum total of 10% of the share capital for the execution of acquisitions of all or parts of other companies or businesses or, alternatively, for the procurement of capital for such acquisitions.