Sat, 20 Aug 2022

Bulletin from STRAX AB's Annual General Meeting

ACCESSWIRE
26 May 2022, 01:37 GMT+10

STOCKHOLM, SWEDEN / ACCESSWIRE / May 25, 2022 / STRAX (STO:STRAX) (FRA:NOBC)

At today's Annual General Meeting in Strax AB (publ) it was resolved to adopt the income statement and the balance sheet for the company, as well as the consolidated income statement and balance sheet for the year 2021. Furthermore, it was resolved that the distributable funds should be transferred to profit carried forward. The Annual General Meeting resolved to discharge the board members and the CEO from liability.

It was resolved that the number of members of the Board of Directors, for the time until the end of the next Annual General Meeting, shall be five (5) ordinary Directors and no deputy Directors. It was resolved, in accordance with the Nomination Committee's proposal, that Bertil Villard, Anders Lönnqvist, Gudmundur Palmason, Pia Anderberg and Ingvi T. Tomasson are re-elected as members of the Board of Directors, all for the period until the end of the next Annual General Meeting. It was further resolved that Bertil Villard is re-elected as chairman of the Board of Directors for the period until the end of the next Annual General Meeting. It was further resolved that the number of auditors shall be one (1) authorized accounting firm for the time until the end of the next Annual General Meeting. PwC AB, with Niklas Renström as the auditor in charge, was re-elected as the company's auditor for the time until the end of the next Annual General Meeting in accordance with the Board of Directors recommendation.

It was resolved that the remuneration shall remain unchanged from the previous year meaning that each member of the Board of Directors, who is considered to be independent in relation to major shareholders, shall receive SEK 150,000, and the chairman of the Board of Directors shall receive SEK 225,000, as remuneration. It is thus Bertil Villard, Anders Lönnqvist and Pia Anderberg that shall receive remuneration, whereas remuneration to the Board of Directors shall be paid with a total of SEK 525,000. It was further resolved that the remuneration to the auditor, for the time until the end of the next Annual General Meeting, shall be paid as per current account as approved by the company.

The Annual General Meeting approved the Board of Directors' proposal regarding remuneration report.

It was further resolved, in accordance with the proposal from the Board of Directors, to authorise the Board of Directors to, up until the next Annual General Meeting, on one or several occasions and with or without preferential rights for the shareholders against cash payment or against payment through set-off or in kind, or otherwise on special conditions, to issue new shares, warrants and/or convertible bonds. However, such issue of shares must never result in the company's issued share capital or the number of shares in the company at any time, being increased by more than a total of 10 per cent. The previous authorisation to issue new shares and which was given at last year's Annual General Meeting, was valid up to this year's Annual General Meeting and has consequently lapsed.

The Annual General Meeting resolved, in accordance with the Board of Directors' proposal, to authorize the Board of Directors to resolve to repurchase and transfer the company's own shares. The following shall apply for the repurchase and transfer of the company's own shares:

  1. Repurchase and transfer of own shares shall exclusively take place on Nasdaq Stockholm.
  2. The authorization may be utilized on one or several occasions until the Annual General Meeting 2023.
  3. Shares may be acquired to the extent that the company's holding of its own shares, on any occasion, does not exceed ten (10) per cent of the company's total shares. Transfer may be carried out of not more than the number of shares repurchased under this authorization.
  4. Repurchase and transfer of shares may only take place at a price within the price interval, on any occasion, recorded on Nasdaq Stockholm, which refers to the interval between the highest buying price and the lowest selling price.

Additional information regarding the resolutions of the Annual General Meeting can be found in the proposals to the Annual General Meeting, which were prepared and that can be found on the company's website.

For further information please contact:

Gudmundur Palmason
CEO, STRAX AB, +46 8 545 017 50

About STRAX

STRAX is a global leader in accessories that empower mobile lifestyles. Our portfolio of branded accessories covers all major mobile accessory categories: Protection, Power, Connectivity, as well as Personal Audio. Our new Health & Wellness category offers branded Personal Protection products. Our distribution business reaches a broad customer base, through 70 000 brick and mortar stores around the globe, as well as through online marketplaces and direct-to-consumers.

Wholly owned brands include Urbanista, Clckr, RichmondFinch, Planet Buddies, xqisit, AVO+, Dóttir and grell, and licensed brands include adidas and Diesel. Our distribution business also services over 40 other major mobile accessory brands.

Founded as a trading company in 1995, STRAX has since expanded worldwide and evolved into a global brand and distribution business. Today we have over 200 employees in 13 countries. STRAX is listed on the Nasdaq Stockholm stock exchange.

Attachments

Bulletin from STRAX AB's Annual General Meeting

SOURCE: STRAX



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