Stockholm, 2015-11-09 17:30 CET (GLOBE NEWSWIRE) --
At the meeting, the holders of depository receipts considered the below items.
- It was resolved that the members of the board of directors shall be four, with no deputies, and David Nangle and Milena Ivanova were elected as new directors for the period until the end of the Annual General Meeting 2016, replacing Josh Blachman and Keith Richman. Furthermore, it was resolved that the board of diretors shall receive a total remuneration of SEK 800,000, of which SEK 400,000 shall be allocated to the chairman of the board of directors and SEK 200,000 to each of the other directors who are not employed by the Company, and that, in line with Swedish market practice, directors who so wish shall be permitted to invoice the Company for their board fees in an amount that is cost neutral to the Company, provided any director who does so is solely liable for any tax effects.
- It was resolved to increase the Company’s issued share capital by not more than US$ 5,879,964.40 by an issue of not more than 587,996,440 common shares of US$0.01 par value each.
Holders of depository receipts (“SDRs”) are entitled to subscribe for SDRs in respect of the new common shares with pre-emption rights, whereby one (1) subscription right shall be provided for each SDR representing one (1) common share of US$0.01 par value each held by such holder. One (1) subscription right entitles to subscription of eight (8) SDRs, each representing one (1) new common share.
Subscription and payment for the SDRs representing shares with pre-emption rights shall be made from and including 19 November 2015 up to and including 3 December 2015. However, the Board of Directors shall be entitled to extend the subscription and payment period at its sole discretion.
The subscription price per new SDR is set at SEK 1.00 corresponding to approximately US$ 0.12 per new SDR.
The record date for participation in the issue of the new common shares (as represented by SDRs) with pre-emptive rights shall be 17 November 2015.
For a description of the background and reasons for the board of directors’ proposal, refer to the press release published by the Company on 22 October 2015.
- It was resolved in accordance with the board of directors proposal on principles for the appointment of a nomination committee for the 2016 Annual General Meeting.
For further information please contact: Björn von Sivers, Investor Relations, Tel +46 (0)8 545 015 50
Vostok Emerging Finance is an investment company with the goal of investing in early stage modern financial services companies across emerging and frontier markets. VEF trades in Sweden on Nasdaq First North under the ticker VEMF SDB.
Vostok Emerging Finance’s Certified Adviser on Nasdaq First North is Pareto Securities AB.
