Stillfront Group AB: Announcement from AGM May 18, 2016, Stillfront Group AB (publ)

Press release from annual general meeting
Stillfront Group AB (publ) held annual general meeting on 18 May 2016 whereas essentially the following resolutions were adopted.

At the annual general meeting the presented profit and loss statement was adopted. The meeting resolved to grant the board of directors and the managing director discharge from liability for their management of the Company during the fiscal year 2015. In accordance with the proposal of the board of directors and the managing director, the meeting resolved that the accumulated profit of SEK 137,244,708 shall be carried forward and that no dividend shall be paid.

It was resolved that remuneration of SEK 88,600 shall be paid to the chairman of the board of directors and that remuneration of SEK 44,300 shall be paid to each of the directors of the board. A director of the board who is compensated by the Company due to employment shall not receive remuneration, neither from the parent company nor any subsidiary.

It was resolved that remuneration to the auditors shall be paid according to current approved account.

Max Bautin had informed that he was not available for re-election as director of the board. It was resolved to re-elect Per Skyttvall, Alexander Bricca, Jörgen Larsson and Fredrik Åhlberg as directors of the board for the period until the next annual general meeting. Annette Brodin Rampe and Mark Miller, respectively, were elected as new directors of the board for the period until the next annual general meeting. MAZARS SET Revisionsbyrå AB was re-elected as the company’s auditor, for the period until the next annual general meeting, with Michael Olsson as the auditor in charge.

The meeting established the nomination procedure for the nomination committee in accordance with the proposal of the board of directors.

It was 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 which entails issuance, conversion or subscription for new shares corresponding to a dilution of a maximum of 10 percent of the share capital at the time of the resolution on the issue. The price per share shall be determined as an average of the market price during 30 days before the subscription. 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
E-mail: jorgen@stillfront.com

Sten Wranne, CFO at Stillfront
Phone: +46 705 851258
E-mail: sten@stillfront.com

About Stillfront

Stillfront is an independent creator, publisher and distributor of digital games – with a vision to become one of Europe’s leading indie game creators and publishers. Stillfront operates through four near-autonomous subsidiaries: Bytro Labs in Germany, Coldwood Interactive in Sweden, Power Challenge in the UK and Sweden, and Dorado Online Games in Malta. Stillfront’s games are distributed globally. The main markets are Sweden, Germany, the United States and South America. For further information, please visit www.stillfront.com.

Selected games

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.
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