Appropriation of earnings and discharge
The AGM resolved that no dividend would be paid to the shareholders, and that the accumulated losses would be carried forward . The Board of Directors and the CEO from liability for their management of the Company for fiscal year 2011.
Fees and Election of Board
The AGM resolved that the Chairman shall be paid a sum of 125,000 SEK and 75,000 SEK to each board member not receiving a salary from the company . The auditor shall be paid in accordance with approved invoices.
The meeting resolved to re-elect Håkan Gustafsson (chairman ) and elected Christian Lundkvist and Pål Mörch as directors.
Consolidation of shares
The Meeting resolved in order to achieve, for appropriate number of shares, to coincide shares so that 20 existing shares of the Company are consolidated into one share.
Amendment of the Articles of Association
The meeting decided that as a result of the proposed consolidation of shares, the Company’s articles of association be amended ( § 5) so that the number of shares shall be not less than 5 million and 20,000,000. Was also decided that section 11 of § 9 discarded. The reason for this is that the demand for guidelines for remuneration to senior executives only applies to companies whose shares are admitted to trading on a regulated market in Sweden.
Resolution to issue warrants
The AGM approved an issuance of 8,000,000 warrants with an exercise price of 0.17 SEK (before the reverse split) to the President. The issue is proposed in order to further increase the CEO’s involvement in the company’s development.
Authorization for the Board to issue new shares
The meeting resolved to authorize the Board, under existing statutes, until the next AGM, on one or more occasions, with or without deviation from the shareholders decide on the issuance of shares and / or convertible bonds and/or warrants. The Board is authorized to resolve on new issues that must be paid for in cash, in kind and/or set-off, or otherwise subject to conditions.