Annual General Meeting of NetEnt AB (publ) on April 21, 2016
At NetEnt AB (publ)’s annual general meeting on Thursday April 21, 2016 the following was resolved.
Adoption of financial statements and dividend
The meeting adopted the income statement and balance sheet along with the consolidated income statement and balance sheet and resolved that no dividend is to be paid for the financial year 2015. Please note the section regarding share split and automatic redemption procedures below.
Board of Directors
The Board of Directors and the President and CEO were discharged from liability for the financial year 2015. The meeting resolved on re-election of Vigo Carlund, Fredrik Erbing, Mikael Gottschlich, Peter Hamberg, Pontus Lindwall, Michael Knutsson, Maria Redin and Jenny Rosberg. Vigo Carlund was elected chairman of the Board. It was decided that remuneration for the Board of Directors shall be SEK 630,000 for the chairman and SEK 275,000 for each of the members of the board elected by the annual general meeting who are not employees of the company and addition thereto, remuneration to the chairman of the audit committee shall be SEK 95,000 and to each of the other members of the audit committee SEK 20,000. Remuneration for the auditor shall be in accordance with approved invoice.
Nominating Committee
The AGM decided that the nominating committee shall be formed during October 2016 after consultation with the three largest shareholders as per August 31 2016. The mandate period shall run from the release of the interim report for the third quarter 2016 until the next nominating committee is formed. The chairman of the Board of Directors shall be a member of the nominating committee and is responsible for summoning the nominating committee. In addition to the chairman of the Board of Directors, the nominating committee shall consist of three members.
Guidelines for remuneration to senior executives
The meeting resolved to adopt the Board of Directors’ proposal regarding guidelines for remuneration to senior executives.
Share split, automatic redemption procedure and change in the Articles of Association
The meeting resolved to adopt the Board of Directors’ proposal regarding share split and automatic redemption procedures, resulting in a value transfer to the shareholders corresponding to SEK 8.00 per share. According to the proposal, each NetEnt share will be split into seven new shares (through a split 7:1), one of which will be a redemption share. Each redemption share will be automatically redeemed at 8.00 SEK in cash. In the statutory meeting following the general meeting the Board of Directors resolved, in accordance with the mandate from the general meeting, the record day for the share split to be May 6, 2016 and the record day for redemption of redemption shares to be May 25, 2016.
The meeting resolved to adopt the Board of Directors’ proposal to change the Articles of Association with regards to the number of shares outstanding in the Company. The full wording of the proposed Articles of Association can be found on the Company’s website.
Incentive program comprising of issuance of warrants to employees
The meeting resolved to adopt the Board of Director’s proposal regarding an incentive program comprising of issuance of warrants to employees.
The complete resolutions
The minutes for the annual general meeting including the complete resolutions as per above will be available shortly on the company’s website. In addition, there is an information brochure regarding the splitting of shares and automatic redemption procedures on the website www.netent.com/agm.
For additional information please contact:
Maria Hedengren, CFO NetEnt AB (publ)
Phone +46 8 57 85 45 00
maria.hedengren@netent.com
The information contained in this press release is such that NetEnt AB (publ) is required to disclose pursuant to the Swedish Financial Instruments Trading Act and/or the Swedish Securities Markets Act. The information was submitted for publication on April 21st, 2016 at 6.45 p.m. CET.
About NetEnt
NetEnt AB (publ) is a leading digital entertainment company, providing premium gaming solutions to the world’s most successful online casino operators. Since its inception in 1996, NetEnt has been a true pioneer in driving the market with thrilling games powered by a cutting-edge platform. NetEnt is committed to helping customers stay ahead of the competition, is listed on NASDAQ Stockholm (NET–B) and employs 700 people in Stockholm, Malta, Kiev, Gothenburg, Gibraltar and New Jersey. www.netent.com