PAXMAN’s second AGM was held today, 23 May 2019, at NetPort in Karlshamn. Slightly more than 72 % of all issued shares were represented at the meeting. After the formal AGM, CEO Richard Paxman gave a company presentation and responded to questions from the attending shareholders.
In accordance with the proposal submitted by the Nomination Committee, the AGM resolved that the Board of Directors shall consist of six Board Members without deputy members. The Board was re-elected in its entirety, and will thus consist of the following members up to the AGM 2020: Per-Anders Johansson (Chairman of the Board), Robert Kelly, Björn Littorin, Glenn Paxman, Richard Paxman and Maria Bech. Also in accordance with the Nomination Committee’s proposal, the registered accountancy firm BDO Mälardalen AB was re-elected. BDO has notified that Niclas Nordström will remain chief auditor.
The Meeting further resolved that the total fees payable to the Board, excluding travel expenses, will be 350,000 SEK per annum, of which 125,000 SEK payable to the Chairman of the Board and 75,000 SEK to each of the Board Members elected by the AGM who are not employed by the company.
The Meeting finally resolved to approve the adoption of an employee option plan, for employees in the subsidiary Paxman Coolers Ltd, whereby a maximum 100,000 warrants will be issued. Each warrant will give the right to subscribe for one new share in PAXMAN AB. By full exercise of the warrants, the dilution effect from the new shares will correspond to approximately 0.6 percent of the total number of currently outstanding shares in the company. The exercise price was set at 65.37 SEK.
All resolutions made by the AGM were unanimous.
