BULLETIN FROM ARTIFICIAL SOLUTIONS’ Extraordinary GENERAL MEETING
Artificial Solutions International AB (publ)’s (“Artificial Solutions” or the “Company”) Extraordinary General Meeting took place on Wednesday 8 January 2020 at Cirio Law Firm in Stockholm, Sweden. Summary of the resolutions follows. All resolutions were unanimous.
Approval of resolution to issue shares with preferential rights for existing shareholders
The Extraordinary General Meeting resolved to approve the board of directors’ resolution on 12 December 2019 to increase the Company's share capital by not more than SEK 33,359,396.97 by way of a new issue of shares of not more than 18,532,998 new shares.
Registered shareholders on the record date for the rights issue shall have the right to subscribe for new shares with preferential rights, wherein each existing share entitles to one (1) subscription right. Four (4) subscription rights entitle to subscription of three (3) new shares. The record date for determining which shareholders are entitled to subscribe for new shares with preferential right shall be Wednesday 22 January 2020. Subscription of shares with pre-emption rights shall be made through cash payment during the period from 24 January 2020 to 11 February 2020. The board of directors has the right to extend the period of subscription and payment. Application to subscribe for shares without preferential right shall be made on a certain subscription list during the period from 24 January 2020 to 11 February 2020. The subscription price is SEK 6.5 per share.
Upon full subscription of the rights issue, the Company will raise approximately SEK 120 million before issuance costs.
Authorization for the board of directors to issue new shares (over-allotment option)
The Extraordinary General Meeting resolved, in accordance with the board of directors proposal, to authorize the board of directors, in the event of oversubscription in the pre-emption rights share issue, no later than 31 March 2020, with deviation from the shareholders' pre-emption right, whether on one or several occasions, to resolve on the increase of the Company's share capital through a directed new share issue (the over-allotment option) of a maximum number of 4,615,500 additional shares, corresponding to an amount of approximately SEK 30 million. The board of directors shall be authorized to decide to whom the new shares shall be allotted. A new share issue pursuant to this authorization shall be conducted at a subscription price of SEK 6.5 per share.
Authorization for the board of directors to issue new shares, warrants and/or convertible instruments
The Extraordinary General Meeting resolved in accordance with the board of directors proposal, to authorize the board of directors to, within the framework of the article of association that apply when the board of directors utilize the authorization, until the next annual general meeting, whether on one or several occasions, with or without deviation from the shareholders' pre-emption right, to resolve on the increase of the Company's share capital through issue of new shares, warrants and/or convertible instruments. The total number of shares covered by such new issues may correspond to a maximum of twenty (20) per cent of the shares in the Company based on the total number of shares in the Company at the time when the board of directors first utilize the authorization.
This authorization replaces the authorization resolved upon at the Annual General Meeting 2019.
For more information, please contact:
Lawrence Flynn, CEO, Artificial Solutions International AB
+46 8 663 54 50
lawrence.flynn@artificial-solutions.com
Email: lawrence.flynn@artificial-solutions.com
About Artificial Solutions International AB (publ)
Artificial Solutions (SSME:ASAI) is the leading specialist in enterprise-strength conversational AI, a type of artificial intelligence that enables people to communicate with applications, websites and internet-connected devices in a human-like manner through voice, text, touch or gesture interaction.
The Company’s advanced AI platform, Teneo, makes it possible for larger global corporations to collaborate with developers and together create sophisticated and highly intelligent conversational AI applications that runs over 35 languages, on multiple platforms and communication channels. The ability to analyze and benefit from the huge amount of conversation data is completely integrated into Teneo, which allows for unmatched insight into the customers’ behaviours.
Artificial Solutions’ technology for conversational AI makes it easy to implement a wide spectrum of applications with natural language, such as virtual assistants, chatbots, voice-based conversational interfaces for smart devices, and more. The technology is already used by millions of people today in hundreds of implementations within both the public and private sector globally. For more information, please visit www.artificial-solutions.com.