Communiqué from the annual general meeting of the Stillfront Group AB (publ) on 19 may 2017
Stillfront Group AB (publ) («Stillfront» or the «Company») held annual general meeting on 19 may 2017 which, in essence, the following decisions were taken.
At the annual general meeting established the company’s proposed income statement and balance sheet and the consolidated income statement and the consolidated balance sheet. The general meeting decided in accordance with the board of directors and the managing director’s proposal that the accumulated profit of 207 319 875 million, of which net profit for the year 14 969 397 sek, be carried forward and that no dividend be paid. The board of directors and the managing director were granted discharge for the financial year 2016.
The meeting decided that board fees of sek 150,000 be paid to the chairman of the board, and that board fees of sek 75,000 shall be paid to each of the other board members. Member of the board who are reimbursed on the basis of employment in the Company or group companies shall not, however, receive director’s fees. The auditor shall be remunerated in accordance with current approved account.
The general meeting decided in accordance with the nomination committee’s proposal to re-elect Annette Brodin Rampe, Alexander Bricca and Mark Miller, as well as elect Birgitta Henriksson, Sture Wikman and Ulrika Viklund as board members for the period until the next annual general meeting were held. Annette Brodin Rampe were elected to the board of directors chairman of the board. Auditor were re-elected MAZARS accountancy Firm AB announced that Michael Olsson will continue to be the principal auditor.
The agm approved the election committee’s proposed principles for how the nomination committee shall be appointed.
The general meeting decided in accordance with the board’s proposal regarding authorisation for the board of directors to the next annual general meeting, with or without deviation from shareholders ‘ preferential rights, at one or several occasions, resolve on issues of shares, convertibles and/or warrants. The increase of the share capital, which includes the issuance of, conversion to or subscription for new shares, — if it takes place with deviation from the shareholders ‘ preferential rights — will correspond to a dilution effect of maximum 10 percent of the share capital at the time when this authorization is utilized for the first time. The price per share shall be determined as an average of the market price during the 30 days before the resolution approving the issue. Payment may be made in cash and/or with a provision regarding in kind or offset or otherwise with terms and conditions. The authorization would mainly be used for the implementation of the acquisition or the financing. The terms shall be market-based.
For further information, please contact:
Jörgen Larsson, CEO
Tel: 070-321 1800
Sten Wranne, CFO
Stillfront is an independent developer, publisher and distributor of digital games — with the vision to become a leading indie game developers and publishers. Stillfront is active through six almost-independent subsidiaries: Bytro Labs in Germany, Coldwood Interactive in Sweden, Power Challenge in Sweden and the united kingdom, Dorado Online Games in Malta, Simutronics in the united states, and the basra province Games in the UAE and Jordan. The group’s games are distributed globally, and has its main markets in Sweden, Germany, the USA and MENA. For more information, visit the Stillfronts website www.stillfront.com.
Stillfronts portfolio includes games for a variety of platforms. Unravel, developed by Coldwood, in collaboration with Electronic Arts, were awarded at E3 and gamescom over 20 awards and was launched in February 2016. Supremacy 1914 and the Call of War is krigsstrategispel developed by Bytro Labs. ManagerZone is a sportsmanagementspel which was launched in 2001. DragonRealms and GemStone IV are the so-called MUD-game with a very loyal player base. Lara Croft Relic Run(TM) is a popular mobile game developed by Simutronics. Tank Storm and the Admiral are mobilstrategispel with very strong spelarbaser, which is in the region of basra province Games.
The Nasdaq First North ticker symbol: SF
Certified Adviser: Avanza Bank, tel 08-4094 2120
This information is such that Stillfront Group AB (publ) is obliged to publish in accordance with the EU regulation on market abuse. The information submitted through the above contact person in the government for publication on may 19, 2017 at 13.15 CEST.