Annual General Meeting of Endomines AB (publ) on 18 April

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News Desk 2018

Apr 19, 2016 at 3:00 AM

Annual General Meeting of Endomines AB (publ) on 18 April 2016

The Annual General Meeting (the “AGM”) of shareholders of Endomines AB (publ) was held on 18 April 2016. Appropriation of Endomines AB’s (publ) loss and discharge from liability for members of the Board of Directors and the CEO The AGM resolved to adopt the Profit and Loss Statement and the Balance Sheet for the parent company as well as the Consolidated Profit and Loss Statement and the Consolidated Balance Sheet for the Group for 2015. The AGM resolved that no dividend should be paid and that the company’s result should be disposed so that SEK 1,319,895 shall be carried forward. The members of the Board of Directors and the CEO were discharged from liability for the financial year 2015. Board of Directors The AGM resolved that the Board of Directors should consist of four members. Staffan Simberg, Stefan Månsson, Rauno Pitkänen and Ann Zetterberg Littorin were re-elected as members of the Board of Directors. In addition, Staffan Simberg was re-elected as chairman of the Board of Directors. Meg Tivéus had declined re -election. Remuneration to the board of directors The AGM further resolved that the yearly fees shall be SEK 325,000 to the chairman of the Board of Directors and SEK 175,000 to each of the non-employed members of the Board of Directors. It was further resolved that committee work fees shall be SEK 25,000 to each member of the Remuneration Committee, Audit Committee and Technique and Security Committee and SEK 50,000 to the chairman of the Audit Committee. Guidelines for remuneration to senior executives The AGM resolved to approve to Board of Directors’ proposal for guidelines for remuneration to senior executives. Reversed share split The AGM resolved to approve the Board of Directors’ proposal for a reversed share split, whereby one hundred existing shares will be consolidated into one share. In order to make the reversed share split possible, it was also resolved to change the limits in the company’s articles of association regarding the number of shares to a minimum of 8,000,000 and a maximum of 32,000,000. The reversed share split means that the number of shares will decrease from a total of 1,048,627,500 to a total of 10,486,275 and that the shares’ quota value will increase from 0.25 SEK per share to 25 SEK per share. Erik Penser Bankaktiebolag will, in connection with the reversed share split, free of charge provide shares to those shareholders whose total shareholdings are not evenly divided by one hundred. The AGM further resolved to authorise the board of directors to determine the record date for the reversed share split, however no earlier than after registration of the reversed share split with the Swedish Companies Registration Office. Further information regarding the reversed share split will be made public when the board of directors have determined the record date. Authorization for the Board of Directors to resolve on new issue of shares and convertibles The AGM resolved to authorize the Board of Directors during the period up to the next Annual General Meeting to, on one or several occasions, resolve on the issuance of new shares and/or convertibles with deviation from the shareholders’ pre-emption right. By resolution pursuant to the authorization, the number of new shares that can be issued may, in aggregate, be equivalent to the number of shares corresponding to maximum 10 per cent of the total number of existing shares in Endomines at the time of registration of the share issue authorization. For further information please contact: Markus Ekberg, CEO of Endomines AB, tel. +358 40 706 48 50 or visit the Company´s home page: www.endomines.com ---------------------------------------------------------------------- Endomines AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 08:45 CEST on April 19, 2016 ---------------------------------------------------------------------- About Endomines: Endomines conducts exploration and mining business along the 40 kilometer long Karelian Gold Line. Through various regulatory approvals, Endomines controls the exploration rights to this entire area. The Company’s first mine, Pampalo, started in February 2011. During 2014, Endomines initiated the production of ore from the mine in Rämepuro. The ore from satellite mines will be processed in the centrally located mill at Pampalo. The Company’s operations are based on sustainable principles and on minimizing the impact on the environment. Endomines applies SveMin's & FinnMin's respective rules for reporting for public mining & exploration companies. The Company has chosen to report mineral resources and ore reserves according to the JORC-code, which is the internationally accepted Australasian code for reporting ore reserves and mineral resources. Endomines vision is to participate in the future structural transformation and consolidation of the Nordic mining industry. The Company may therefore be involved in acquisitions of interesting deposits or companies, should such opportunities arise. The shares of Endomines AB are quoted on Nasdaq Stockholm under ticker ENDO and on Nasdaq Helsinki under ticker ENDOM. The Liquidity Provider in both Stockholm and Helsinki is Erik Penser Bankaktiebolag.

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