Annual General Meeting in Betsson AB (publ)
The following resolutions were approved at the Annual General Meeting of
Betsson AB (publ) on 3 June 2010:
· Per Hamberg, Patrick Svensk, Kicki Wallje-Lund, John Wattin, Carl
Lewenhaupt and Lars Linder Aronson were re-elected as board members. The
Annual General Meeting decided to appoint John Wattin as chairman of the
board.
· The General Meeting decided to adopt the annual report and discharge
the Board and the Managing Director from liability for the financial
year 2009.
· The General meeting decided on a share split and automatic share
redemption programme. The redemption programme means that approximately
SEK 353 millions, corresponding to SEK 9.00 per share will be
distributed to the shareholders. The following resolutions were approved
regarding the share split and the redemption of shares:
− Decision to execute a share split 2:1, whereby each share is
divided into two shares. One of these shares will be a so called
redemption share.
− Decision to reduce the share capital by automatic redemption of
shares, whereby 5,420,000 Class A shares and 34,133,720 Class B shares
are redeemed.
− Decision to increase the share capital by way of a bonus issue,
whereby the Company's share capital is restored to its original amount
before the decision on reduction of the share capital.
The record date for the share split is 11 June 2010. Trading in the
redemption shares of Class B will take place from 15 June 2010 up to and
including 29 June 2010. The record date for the share redemption is 2
July 2010. Payment is expected to take place via Euroclear Sweden AB
around 7 July 2010.
· The Annual General Meeting resolved in accordance with the Board's
proposal to authorise the Board to resolve on purchasing, at one or
several occasions, so many own shares that the Company's holding does
not at any time exceed 10 per cent of the total number of shares in the
Company. The purchase of shares shall take place on a regulated market,
where shares in the Company are listed, and may only occur at a price
within the share price interval registered at that time, where the share
price interval means the difference between the highest buying price and
lowest selling price, or through a public offer to all shareholders,
whereby the purchase price shall be set at not lower than the share
price at the time when the decision is taken and not higher than 150 per
cent of the such share price. Furthermore, the General Meeting resolved
to authorise the Board to pass resolutions on transferring the Company's
own shares as payment in connection with an acquisition of companies or
businesses, at market price at that time.
· The General Meeting resolved in accordance with the Board's proposal
to authorise the Board to, at one or more occasions, during the time
until the next Annual General Meeting, resolve on the issuance of shares
of not more than 4 million Class B shares (corresponding to a dilution
of approximately 10 percent). The purpose of the authorisation is to
increase the Company's financial flexibility and be able to make payment
using own financial instruments in connection with potential
acquisitions.
· The General Meeting decided to establish a Nomination Committee
which shall consist of not less than three members representing the
Company's major shareholders. The Nomination Committee will be formed in
October 2010.
· The General Meeting resolved in accordance with the Board's proposal
to adopt principles for remuneration of senior executives.
Betsson AB (publ)
The Board of Directors
For further information, please contact:
Pontus Lindwall, CEO and President Betsson AB (publ), phone: +46
(0)8 506 403 10 or +46 (0)708 27 51 55 or Pontus@betsson.com
