The annual general meeting of G5 Entertainment AB (publ) was held at 7a Conference center, Strandvägen 7a in Stockholm, on May 12, 2017.
Petter Nylander was elected chairman of the meeting. During the meeting CEO Vlad Suglobov gave a presentation of the 2016 financial year and the current status of G5 Entertainment AB (publ).
The meeting, amongst other things, decided on the following matters:
Members of the Board of directors and remuneration to the Board of directors
Chris Carvalho, Petter Nylander, Jeffrey Rose and Vlad Suglobov were re-elected as members of the board and Johanna Fagrell Köhler and Stefan Lundborg were elected as new members of the board. Petter Nylander was appointed chairman of the board. It was resolved that the remuneration to the board should comprise of SEK 400,000 to the chairman and SEK 230,000 to each of the other members appointed by the general meeting and not employed by the company. It was also resolved that fees for the upcoming term, in addition to directors ' fees, shall be paid to the members of the company's Audit Committee and the Compensation Committee. The fee to the chairman of the Audit Committee shall amount to SEK 80,000 and SEK 50,000 each, to be paid to the other members of the Audit Committee and the fee to the chairman of the Compensation Committee shall amount to SEK 50,000 and SEK 30,000 each to be paid to the other members of the Compensation Committee
The meeting approved to pay a dividend of SEK 0.75 per share, in total SEK 6,600,000, as suggested by the Board. Payment from Euroclear is estimated to be made on May 19, 2017.
Discharge from liability
The meeting decided to discharge the board and the CEO from liability for the financial year 2016.
The meeting resolved to elect PWC as audit firm with Aleksander Lyckow as auditor in charge for the period until the end of the next annual general meeting. The meeting also resolved that remuneration to the auditors shall be paid on approved invoices.
The meeting approved the nomination committee's proposal regarding guidelines for the nomination committee.
Remuneration to senior executives
The meeting resolved to adopt the Board's proposal for guidelines for remuneration to senior executives.
Authorization, share issue
The meeting resolved to authorize the board for the period until the next annual general meeting, on one or more occasions, to decide to issue a maximum of 880,000 shares in order to facilitate acquisitions and raising capital.
The meeting also decided on the issue of up to 300,000 warrants. The right to subscribe for the warrants shall, with deviation from shareholders' preferential rights, be given to managers and senior executives of the group. The program shall include a maximum of 95 persons. Each warrant will entitle the holder to subscribe for one (1) share in the company at an issue price of 300 per cent of the volume-weighted average quoted closing price during the period from and including May 15, 2016 to May 29, 2016 for shares in G5 on Nasdaq Stockholm. Upon full exercise of the warrants, up to 300,000 shares (subject to any recalculation), equivalent to about 3.4 percent of the total number of outstanding shares and voting rights, will be issued. If fully subscribed, the company's share capital will increase by SEK 30,000, resulting in a dilution of 3.4 percent. Board members are not entitled to subscribe for warrants with the exception of the company's CEO.
More information about the Company can be found on www.g5e.se/corporate.
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