The extra general meeting in
Amendments of the Company's articles of association
The extra general meeting resolved, in accordance with the board of directors' proposal, to amend the Company's articles of association regarding, e.g., the limits for the share capital to a minimum of
Approval of rights issue of units
The extra general meeting resolved, in accordance with the board of directors' proposal, to approve the board of directors resolution regarding a rights issue of a maximum of 10,910,594 shares and a maximum of 10,910,594 warrants (divided on 5,455,297 warrants series 2020:1 and 5,455,297 warrants series 2020:2). The Company's share capital will increase with a maximum of
The new shares and warrants are issued in units, where each unit consists of two shares and two warrants. The subscription price is
Three warrants series 2020:1 entitles to subscription of one new share in the Company at a subscription price equal to 70 percent of the volume weighted average price of the Company's shares at Nasdaq First North Growth Market during a period of 10 trading days immediately preceding
Three warrants series 2020:2 entitles to subscription of one new share in the Company at a subscription price equal to 70 percent of the volume weighted average price of the Company's shares at Nasdaq First North Growth Market during a period of 10 trading days immediately preceding
Subscription of a new share by exercise of warrants series 2020:1 shall take place during the period from
Further information about the rights issue will be available in the prospectus to be published following the
Warrant based incentive program for senior executives
The extra general meeting resolved, in accordance with the board of directors' proposal, to issue 1,000,000 warrants and to approve subsequent transfers of the warrants. If all issued warrants are exercised the share capital of the Company will increase with
The warrants shall be subscribed for by senior executives, employees and key persons in the Company and company group and the subsidiary ExpreS[2]ion
Each warrant entitles to subscription of one new share in the Company during the period from
The purpose of the issuance of warrants and the deviation from the shareholders preferential rights is to implement incentive program 2020/2024. The purpose is to establish conditions to maintain and increase the motivation of senior executives, employees and other key persons within the Company and company group. The board of directors finds that it is in all shareholders interest that senior executives, employees and other key persons, which are considered important to the future development of the company group, have a long term interest in developing high value of the Company's share. A long term ownership engagement is expected to stimulate an increased interest for the business and result in a whole as well as to increase the motivation for the participants and to create a common interest for the Company's shareholders and the participant.
The maximum dilution of incentive program 2020/2024 is estimated to be a maximum of approximately 5.76 percent of the total number of shares and votes in the Company, assuming full subscription and exercise of all warrants offered.
Remuneration
Finally the extra general meeting resolved that the remuneration to the board of directors is increased where each director shall be entitled to
For detailed terms regarding the above resolution at the extra general meeting, reference is made to the notice that is available on the Company's website, www.expres2ionbio.com.
Certified Adviser
Telefon: +46 11 32 30 732
E-post: ca@skmg.se
For further information about ExpreS[2]ion, please contact:
Bent U. Frandsen, CEO
Telephone: +45 4256 6869
E-mail: buf@expres2ionbio.com
About ExpreS[2]ion
ExpreS[2]ion
https://news.cision.com/expres2ion-biotechnologies/r/announcement-from-the-extra-general-meeting-in-expres2ion-biotech-holding,c3201138
https://mb.cision.com/Main/14402/3201138/1309719.pdf
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