Report from Extra Meeting of Shareholders of Xhail AB (publ)
1 October, 2021
The shareholders of Xhail AB (publ) (”Company” or ”Xhail”) has on October 1, 2021 held an extra general meeting of shareholders (“EGM”) in Stockholm where the following decisions were made.
The EGM decided to authorize the Board of Directors to, with or without deviation from the shareholders' preferential rights, until the time of the next Annual General Meeting, on one or more occasions, resolves to issue new shares, warrants and / or convertibles. Payment can be made against cash payment and / or through payment in kind and / or through set-off. When exercising the authorization, the issue price shall be set at close to the market level, subject to a market issue discount, which the Company's Board of Directors deems applicable on each individual occasion.
The Board's decision on the issue of shares, warrants and / or convertibles may result in a total increase in the number of shares in the Company by a maximum of 500,000,000 shares (in the event of full subscription with the support of such warrants and / or full conversion of such convertibles and before any recalculation according to the terms of the warrants and / or the convertibles).
The Board of Directors
For further information, please contact:
Anders Thorsell, CEO
Email: ir@xhail.com
Xhail has developed the world’s most advanced automatic real music-generating platform. The patented technology combines stems from top-level musicians into ready musical pieces in a vast number of styles and genres. Xhail puts music creation in the hands of everyone, in real-time-generating rights-cleared music, which is performed by professional musicians. Xhail is currently developing its App that will result in a completely new way of creating real music and with a music-creation process so easy, it is fully accessible for the first time to enable unfettered creativity for everyone.
Xhail’s main business and technical development is shared between the United States, Sweden and Ireland.