The meeting decided the following:
Decision on distribution of all shares in the subsidiary Delta Minerals Ltd (item 7)
The Company holds a majority stake in its subsidiary Delta Minerals Ltd ( “Subsidiary”) . The EGM resolved on the distribution in kind of all of the Company held shares in the subsidiary on the following terms . The proposal provides that shareholders of the Company for one (1 ) existing share in the Company will receive one ( 1) share of the Subsidiary . The record date for dividend entitlement of shares in the Subsidiary shall be 23 December 2013.
The decision to issue new shares (item 8)
The company made 11 January 2012 decision to issue convertible bonds targeted to a small number of investors. Since the decision on issuance was not registered in time of the Issue , the decision has expired and made payment on the convertible constitutes a claim for convertible signatories of the Company. The Board found it appropriate to convertible subscribers are given the opportunity to subscribe for shares in the Company on the same terms as the original convertible terms stated and hereby granted the right to settle their respective claims as payment for subscribed shares. Also proposed that the convertible subscribers are given the right to subscribe for shares against cash payment as compensation for loss of conversion due to the distribution of the shares of Delta Minerals AB.
The Extraordinary General Meeting decided on a directed issue of up to 1,638,227 shares with a quota value of SEK 3.40 per share, implying an increase of the share capital by a maximum of 5 569 971.80 SEK. The proposal includes both shares that may be paid by set-off (up to 1,411,764 shares) and shares that may be paid in cash (up to 226,463 shares). Right to subscribe for the new shares will be convertible subscribers with the right and obligation to pay for the shares subscribed for by offsetting their respective claims in respect of convertible bonds subscribed and paid for in cash . For each share subscribed for against payment through set-off given the right to subscribe for about 0.16 shares for cash . Subscription shall take place on 31 December 2013. Subscription price shall be SEK 3.40 per share which is equivalent to the conditions under the convertible.
The Annual General Meeting under item 8 of the agenda shall be subject to Chapter 16 of the Companies Act, the so-called ” Leo Act ” , so it is valid only if it is supported by shareholders representing at least nine tenths of both the votes cast and the shares represented.