Key Decisions from the Recent Shareholder Meeting at Serstech
Important Outcomes from Serstech's Annual General Meeting
Recently, Serstech AB (publ) held its annual general meeting, where significant decisions were made to shape the company's future direction. These noteworthy outcomes are pivotal for the stakeholders and will influence the company's operations moving forward.
Financial and Operational Resolutions
The meeting commenced with the affirmation of the company's financial statements and balance sheets, which outline the financial performance for the previous year. The stakeholders unanimously agreed on accepting these crucial documents as part of the formal proceedings.
Following this, it was determined that no dividends will be distributed for the year, marking a strategic decision aimed at reinvesting resources into the company's development and innovations.
Board Accountability and Structure
In a further significant decision, the board of directors and the CEO were granted discharge from liability for their actions during the last fiscal year. This approval reflects the confidence the shareholders have in the leadership and the direction the company is taking.
The structure of the board was also addressed, wherein it was resolved that Serstech's board will comprise six members without substitutes. This streamlined approach is designed to enhance governance and ensure focused decision-making processes.
Election and Compensation of Board Members
The shareholders approved the reelection of five board members: Thomas Pileby, Sverker Göranson, Märta Lewander Xu, Arve Nilsson, and Christer Kjellkvist. Additionally, Emelie Agnedal was appointed as a new member, marking a valuable addition to the board's expertise.
Thomas Pileby was reelected as the chairperson, indicating a consistent leadership approach. Compensation for board members was also discussed, with a total remuneration of 1,117,200 SEK being distributed, providing substantial recognition for their contributions to the company.
Auditor Reappointment
The meeting further saw the reappointment of Öhrlings PricewaterhouseCoopers AB as the company's auditor, with Cecilia Andrén Dorselius serving as the main responsible auditor. The adjustments in the auditing wing signify a commitment to maintaining strong financial oversight and transparency for stakeholders.
New Incentive Program Introduction
In line with progressive growth strategies, the assembly approved a notable long-term incentive program. The plan allows for the issuance of up to 3,000,000 subscription options, potentially increasing the share capital by approximately 87,083 SEK. This initiative is aimed at fostering employee engagement and retention within Serstech.
The right to subscribe to these options is designated for Serstech’s wholly-owned subsidiary, Serstech Förvaltning AB, which will allocate these options to employees across the organization. Each option provides the opportunity to acquire new shares in the company, strengthening the ties between employee contributions and company success.
Projected Share Value
The planned subscription price for these options has been determined to be 160% of the volume-weighted average price for Serstech AB’s shares on the Nasdaq First North Growth Market from early May 2025. This pricing strategy underscores a focus on aligning employee incentives with shareholder value.
Contact Information
For further inquiries, individuals may reach out to:
Stefan Sandor, CEO of Serstech AB
Phone: 0739-60 60 67
Email: ss@serstech.com
Or
Thomas Pileby, Chairman of the Board
Phone: 0702-07 26 43
Email: tp@serstech.com
To learn more about Serstech, you can visit www.serstech.com.
About Serstech
Serstech specializes in developing and selling advanced equipment for identifying hazardous chemicals, including narcotics, explosives, and chemical warfare agents. Its clientele primarily consists of law enforcement agencies, including the United Nations and World Customs Organization (WCO), along with customs and police authorities globally. The company boasts a vast network of distributors across 66 countries, showcasing a strong international presence.
Headquartered in Lund, Sweden, all manufacturing operations are conducted within the country, emphasizing quality and craftsmanship inherent to Serstech's products. The company is listed on the Nasdaq First North Growth Market, reflecting its commitment to transparency and growth.
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