19 May 2017
Announcement from annual general meeting in Stillfront Group AB (publ) 19 May 2017
Stillfront Group AB (publ) (“Stillfront” or “Company”) held its annual general meeting on 19 May 2017 where mainly the following resolutions were adopted.
At the annual general meeting the presented profit and loss statement and the balance sheet and consolidated profit and loss statement and balance sheet were adopted. In accordance with the proposal of the board of directors and the managing director, the meeting resolved that the accumulated profit of SEK 207 319 875, of which the year’s profit constitutes SEK 14 969 397, shall be carried forward and that no dividend shall be paid. The board of directors and the managing director were discharged from liability for the fiscal year 2016.
The meeting resolved that remuneration of SEK 150 000 shall be paid to the chairman of the board of directors and that remuneration of SEK 75 000 shall be paid to each of the directors of the board. A director of the board who is compensated due to employment with the Company or a subsidiary shall not receive remuneration due to the appointment as director.
The meeting resolved that remuneration to the auditors shall be paid according to current approved account.
The meeting resolved, in accordance with the nomination committee’s proposal, to re-elect Annette Brodin Rampe. Alexander Bricca and Mark Miller, and to elect Birgitta Henriksson, Ulrika Viklund and Sture Wikman as directors of the board for the time until the next annual general meeting has been held. Annette Brodin Rampe was elected chairman of the board of directors. MAZARS SET Revisionsbyrå AB was re-elected as the company’s auditor, with the intention to re-appoint Michael Olsson as auditor in charge.
The meeting established the nomination procedure for the nomination committee in accordance with the nomination committee’s proposal.
The meeting resolved, in accordance with the proposal of the board of directors, to authorise the board of directors to, until the next annual general meeting, with or without deviation from the shareholders’ preferential rights, on one or several occasions resolve to issue shares, convertible instruments and/or warrants. The increase of the share capital, which entails issuance, conversion or subscription for new shares, may – where it entails a deviation from the shareholders’ preferential rights – correspond to a dilution of a maximum of 10 percent of the share capital at the time of the first use of the authorisation to issue shares, convertible instruments and/or warrants. The price per share shall be determined as an average of the market price during 30 days before the resolution of the issue of shares, convertible instruments and/or warrants. Payment may be made in cash and/or with a condition to pay in kind or by way of set-off, or other conditions. The authorisation shall primarily be used for the purpose of acquisitions or financing. The conditions shall be on market terms.
For additional information, please contact:
Jörgen Larsson, CEO at Stillfront
Phone: +46 70 321 18 00
Sten Wranne, CFO at Stillfront
Phone: +46 705 851258
Stillfront is an independent creator, publisher and distributor of digital games – with a vision to become one of the leading indie game creators and publishers. Stillfront operates through six near-autonomous subsidiaries: Bytro Labs in Germany, Coldwood Interactive in Sweden, Power Challenge in the UK and Sweden, Dorado Online Games in Malta, Simutronics in the United States and Babil Games in UAE and Jordan. Stillfront’s games are distributed globally. The main markets are Sweden, Germany, the United States and MENA. For further information, please visit www.stillfront.com.
Stillfront’s portfolio includes games across multiple platforms. Unravel, developed by Coldwood in collaboration with Electronic Arts, won 20+ awards at E3 and gamescom and was released in February 2016. Supremacy 1914 and Call of War are high-immersion war strategy games developed by Bytro Labs. ManagerZone is a sports management strategy game launched in 2001. DragonRealms and GemStone IV are MUD-style games with a very loyal player base. Lara Croft Relic Run(TM) is a popular mobile game developed by Simutronics. Tank Storm and Admiral are mobile strategy games with very strong player bases, published by Babil Games.
Nasdaq First North Ticker Symbol: SF
Certified Adviser: Avanza Bank, phone +46 8 4094 2120
This information is information that Stillfront Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 13.15 CEST on May 19, 2017.