Report from the Annual General Meeting in Wyld Networks AB

Fri, Jun 28, 2024 18:45 CET

The Annual General Meeting 2024 in Wyld Networks AB ("Wyld Networks" or the "Company") was held today, 28 June 2024, whereby the shareholders passed the following resolutions.

Adoption of the income statement and balance sheet

The Annual General Meeting resolved to adopt the income statement and balance sheet as well as the consolidated income statement and consolidated balance sheet.

Allocation of profits

The Annual General Meeting resolved that all funds available to the Annual General Meeting shall be carried forward.

Discharge from liability

The members of the board of directors and the CEO were discharged from liability for the financial year 2023.

Election of the board of directors and auditor and remuneration

The Annual General Meeting resolved that the board of directors shall consist of three board members without deputy board members. It was further resolved that the Company shall have a registered accounting firm as auditor.

Furthermore, it was resolved that an aggregate annual fee of SEK 850,000 shall be paid to the board members, of which SEK 350,000 to the chairman of the board of directors and SEK 250,000 to each of the other board members elected by the Annual General Meeting. It was resolved, in accordance with the proposal from the shareholder Tern PLC, that the auditor's fee shall be paid in accordance with approved invoice.

The Annual General Meeting resolved, in accordance with the proposal from the shareholder Tern PLC, to re-elect Mats L. Andersson, Mats R. Andersson and Ramesh Kesanupalli as members of the board of directors. It was announced at the meeting that David Wendel Thoms declines re-election. Mats L. Andersson was re-elected as chairman of the board of directors.

Mazars AB was re-elected as auditor. Mazars AB has informed the Company that the authorized public accountant Åsa Andersson Eneberg will be the auditor in charge.

Amendments to the limits for the share capital and the number of shares in the articles of association

The Annual General Meeting resolved, in accordance with the board of directors' proposal, to amend the limits for the share capital in the articles of association to not less than SEK 1,700,000 and not more than SEK 6,800,000 (previously not less than SEK 1,112,896 and not more than SEK 4,451,584) and the limits for the number of shares in the articles of association to not less than 20,600,000 and not more than 82,400,000 (previously not less than 13,337,633 and not more than 53,350,532).

Issue authorisation

The Annual General Meeting resolved, in accordance with the board of directors' proposal, to authorise the board of directors to, on one or several occasions until the next Annual General Meeting, with or without deviation from the shareholders' pre-emptive rights, against payment in cash, non-cash consideration or through set-off, resolve on new issues of shares, convertibles and/or warrants.

The reason to authorise the board of directors to have the possibility to resolve on new issues without preferential rights for the shareholders as described above is primarily for the purpose of being able to raise new capital, to increase the Company's flexibility and strengthen the Company's own funds or to be able to carry out acquisitions.

For further information, please contact:

Alastair Williamson, CEO Wyld Networks
E-mail: alastair.williamson@wyldnetworks.com
Tel: +44 7 824 997 689

About Wyld Networks AB

Wyld Networks develop and sell innovative wireless technology solutions that enable affordable connectivity anywhere in the World, addressing the problems for businesses and people regarding the lack of global mobile network coverage. The solutions are mainly targeted to wireless connectivity for the Internet of Things (IoT) and people. Wyld Networks Ltd was formed in Cambridge, UK in 2016 and is a wholly owned subsidiary of Wyld Networks AB.

The Wyld Networks share (WYLD) is traded on the Nasdaq First North Growth Market. Certified Adviser is Mangold Fondkommission AB (tel +46 8-5030 1550, email ca@mangold.se).