Bulletin from Artificial Solutions 2020 annual general meeting
Artificial Solutions International AB (the “Company”) has today on 17 June 2020 held its annual general meeting (“AGM”). The AGM resolved on, inter alia, establishment of two incentive programs, an issuance authorization for the board of directors and amendment of the articles of association regarding record day.
Adoption of the income statement and balance sheet
The AGM adopted the income statement and balance sheet, as well as the consolidated income statement and consolidated balance sheet for the 2019 financial year.
Appropriation of the Company’s result according to the adopted balance sheet
The AGM resolved that no dividend shall be made for the 2019 financial year and that the net profit for the year shall be carried forward.
Discharge from personal liability
The AGM granted the directors and the CEO discharge from personal liability for the 2019 financial year.
Board of directors and auditors
In accordance with the nomination committee’s proposal, the AGM resolved on re-election of directors Åsa Hedin, Johan Ekesiöö, Bodil Eriksson, Johan Gustavsson, Fredrik Oweson and Jan Uddenfeldt for the time until the end of the next AGM. Åsa Hedin was re-elected as chair of the board of directors.
The registered accounting firm Grant Thornton Sweden AB was re-elected as auditor for the time until the end of the next AGM. Grant Thornton Sweden AB has announced that the authorized auditor Carl-Johan Regell will be appointed as auditor in charge.
The AGM resolved that remuneration to the board of directors for the time until the end of the next AGM shall amount to a total of SEK 1,650,000, whereas SEK 450,000 to the chair and SEK 300,000 to each one of the other AGM-elected directors who are not employed by the Company. Fredrik Oweson has chosen to abstain from remuneration. Compensation for work carried out in the board of directors’ committees is included in the remuneration.
The auditor will be paid as per approved invoice.
Incentive Program 2020/2025:1
The AGM resolved, in accordance with the board of directors’ proposal, on establishment of Incentive Program 2020/2025:1 by a) directed issue of warrants to subsidiary and b) approval of transfer of warrants to management and other key employees of the Company or its subsidiaries. The subscription price of shares when exercising the warrants corresponds to 250 per cent of the volume-weighted average price for the Company’s share on Nasdaq First North Growth Market from 2 June 2020 until 16 June 2020. Each warrant confers the holder a right to subscribe for one (1) new share in the Company and may be exercised during the period from 1 June 2025 to 15 October 2025. Provided that the warrants are fully exercised, the Company’s share capital can increase with a maximum of SEK 1,384,704.03, corresponding to a maximum of about 1.78 per cent of the current number of shares and votes in the Company.
Incentive Program 2020/2025:2
The AGM resolved, in accordance with the main shareholders’ proposal, on establishment of Incentive Program 2020/2025:2 by a) directed issue of warrants to subsidiary and b) approval of transfer of warrants to directors of the Company. The subscription price of shares when exercising the warrants corresponds to 250 per cent of the volume-weighted average price for the Company’s share on Nasdaq First North Growth Market from 2 June 2020 until 16 June 2020. Each warrant confers the holder a right to subscribe for one (1) new share in the Company and may be exercised during the period from 1 June 2025 to 15 October 2025. Provided that the warrants are fully exercised, the Company’s share capital can increase with a maximum of SEK 268,869.61, corresponding to a maximum of about 0.35 per cent of the current number of shares and votes in the Company.
Issuance authorization
The AGM resolved, in accordance with the board of directors’ proposal, to authorize the board of directors to, within the framework of the articles of association that apply when the board uses the authorization, until the next AGM, on one or more occasions, with or without deviation from the shareholders’ pre-emptive rights, resolve on an increase of the Company’s share capital by issuing shares, warrants and/or convertible instruments. The total number of shares covered by such issues may correspond to a maximum of twenty per cent of the shares in the Company, based on the total number of shares in the Company at the time of the first resolution by the board under this authorization.
Nomination committee
The AGM resolved, in accordance with the nomination committee’s proposal, that the Company shall have a nomination committee consisting of four members. The nomination committee shall consist of one member from each one of the three largest shareholders or groups of owners in terms of voting rights as of 30 September, along with the chair of the board of directors. The AGM adopted the proposed instruction for the nomination committee.
Amendment of articles of association
The AGM resolved, in accordance with the board of directors’ proposal, on amendment of § 8 of the articles of association regarding record day for the right to attend a shareholders’ meeting.
For more information:
Lawrence Flynn, CEO, Artificial Solutions
Tel: +44 (0)1635 523267
Email: lawrence.flynn@artificial-solutions.com
Artificial Solutions International is listed on Nasdaq First North Growth Market in Stockholm with short name ASAI. Erik Penser Bank is the Company’s Certified Adviser (www.penser.se, tfn +46 (0) 8-463 83 00, e-post certifiedadviser@penser.se).
About Artificial Solutions:
Artificial Solutions® is the leading specialist in enterprise-strength conversational AI, a form of Artificial Intelligence that allows people to communicate with applications, websites and devices in everyday, humanlike natural language via voice, text, touch or gesture input.
Designed for the global enterprise, Artificial Solutions' advanced conversational AI platform, Teneo®, allows business users and developers to collaborate on creating sophisticated, highly intelligent applications that run across over 35 languages, multiple platforms and channels in record time. The ability to analyze and make use of the enormous quantities of conversational data is fully integrated within Teneo, delivering unprecedented levels of insight that reveal what customers are truly thinking.
Artificial Solutions' conversational AI technology makes it easy to implement a wide range of natural language applications such as virtual assistants, chatbots, speech-based conversational UIs for smart devices and more. It is already used daily by millions of people across hundreds of private and public sector deployments worldwide. For more information, please visit www.artificial-solutions.com.