The annual general meeting (“AGM”) of Flat Capital AB (publ), 556941-0110, (the "Company") took place today, May 4, 2023. The AGM was conducted with both physical participation and postal voting.
The AGM resolvedon all proposed matters in accordance with previously published proposals. Below is a summary of the main decisions taken. All decisions were taken by the AGM with the required majority.
Determining the income statement and the balance sheet
The AGM approved the income statement and the balance sheet as included in the annual report and consolidated accounts for the financial year 2022.
Disposition of the result
The AGM decided in accordance with the board's proposal to dispose of the Company's results in accordance with the board's proposal in the annual report. The AGM also decided that no dividend will be paid for the financial year 2022.
Discharge from liability
The AGM resolved to discharge each of the members of the Board of Directors and the CEO from liability for the management of 2022.
Board of Directors and auditor
The AGM resolved in accordance with the proposals submitted to:
Authorization for the Board of Directors to decide on a new share issue
The AGM resolved to authorize the Board of Directors to, until the time of the next AGM and on one or more occasions, decide on a new issue of shares, with or without deviation from the shareholders' preferential rights.
The purpose of the authorization is to increase the company's financial flexibility for new investments, to support existing portfolio companies and to broaden the shareholder base if needed. The Board of Directors shall have the right to decide that payment shall be made in cash or in kind or subscribed for with a right of set-off. The Board of Directors' resolution to issue shares with deviation from the shareholders' preferential rights may entail a total increase of not more than 25 percent of the number of outstanding shares, based on the number of outstanding shares in the Company at the time of the resolution on the authorization.
Resolution on (A) directed issue of warrants, Series 2023/2026:A and (B) payment of gratuity to key employees
The AGM resolved in accordance with the Board's proposal to issue a maximum of 641,554 warrants. The warrants shall be available for subscription by key employees. Furthermore, the AGM resolved that the participant in the warrant program should receive a gratuity in the form of a gross salary supplement where the net salary corresponds to the amount the participant paid for the warrants.
Resolution on directed issue of warrants, Series 2023/2026:S to Board members
The AGM resolved in accordance with the main owner Sebastian Siemiatkowski's proposal to issue a maximum of 240,582 warrants. The warrants must be subscribed by the Company's Board.
Flat Capital AB (publ)
Board of Directors
For further information, please contact:
Hanna Wachtmeister, CEO
Tel: +46 (0) 70 661 60 05
Email: hw@flatcapital.com
Antonio Melani, CFO
Tel: +46 (0) 72 221 81 32
Email: am@flatcapital.com
Certified Adviser:
Augment Partners AB, info@augment.se, +46 (0) 8 604 22 55
Disclaimer: This is a non-official translation of the Swedish original text. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.
About Flat Capital:
Flat Capital is an investment company that focuses on growth stage companies with prominent entrepreneurs in leading positions and primarily makes investments through its network of world-class investors and entrepreneurs. The company was founded in 2013 by entrepreneurs Nina and Sebastian Siemiatkowski (founders and CEOs of Milkywire and Klarna, respectively) and is led by CEO Hanna Wachtmeister together with an experienced board of directors. Examples of portfolio companies include Klarna, Instabee and Truecaller. The company aims to provide long-term capital and is essentially a passive minority shareholder, while Flat Capital's experience and network are available to the extent the entrepreneur wishes. The aim is to facilitate successful company building and enable exposure to otherwise hard-to-reach and promising companies. More information is available at www.flatcapital.com