Kambi Group plc: Notice of Annual General Meeting
Post# of 301275
Malta, 13 April 2017
NOTICE OF KAMBI GROUP PLC ANNUAL GENERAL MEETING 2017
In terms of Articles 41 and 42 of the Articles of Association of the Company
N OTICE IS HEREBY GIVEN that THE ANNUAL GENERAL MEETING ("AGM") of Kambi Group plc or the "Company" (company number C 49768, registered in Malta) will be held on Wednesday 17 May, 2017 at 10.00 CET at Kambi, Wallingatan 2, 4tr, 111 60 Stockholm, to consider the following Agenda.
Right to attendance and voting
- To be entitled to attend and vote at the AGM (and for the purpose of the determination by the Company of the number of votes they may cast), shareholders must be entered on the Company's register of members by Friday 28 April, 2017.
- In order to be entitled to participate in the proceedings at the AGM, shareholders who have their shares registered with a nominee account must ensure their shares are temporarily registered in their own name latest by Friday 28 April, 2017.
- Shareholders who wish to participate in the AGM are invited to notify Euroclear Sweden AB of their intention to attend the AGM by Friday 28 April, 2017.
Shareholders can notify their attendance by mail to: Kambi Group plc, c/o Euroclear Sweden AB, Box 191, 101 23 Stockholm, Sweden, tel. +46 8 402 9092. Notification should include the shareholder's name, address, personal or corporate identity number, registered shareholding and information on proxies.
Shareholders' right to appoint a proxy
- A holder of Ordinary 'B' shares entitled to attend and vote at the AGM, is entitled to appoint one or more proxies to attend and vote on his or her behalf. A proxy need not also be a shareholder. If the appointer of the proxy is an individual, the proxy form must be signed by the appointer or his attorney or comply with Article 126 of the Articles of Association of the Company (the "Articles"). If the appointer is a corporation, the proxy form must be signed on its behalf by an attorney or a duly authorised officer of the corporation or comply with Article 126 of the Articles.
- If participation is by proxy, the proxy form and, in the case that the issuer of the proxy is a legal entity, a witnessed registration certificate or other documentation in original form proving the authorization of the company signatory, must be sent in advance to the Company or presented on entering the Annual General Meeting.
- Where appointment of a proxy is signed on behalf of the appointer by an attorney, the power of attorney or a copy thereof certified notarially or in some other way approved by the Board of Directors must (failing previous registration with the Company) be submitted to the Company, failing which the appointment may be treated as invalid.
- The original signed proxy form must be received at the registered office of the Company not less than 48 hours before the time appointed for the holding of the meeting or adjourned meeting and in default shall not be treated as valid. It is therefore recommended that all proxy forms are sent as soon as possible and in any event by not later than Friday 28 April, 2017 by post or courier to Kambi Group plc, c/o Euroclear Sweden AB, Box 191, 101 23, Stockholm, Sweden, tel. +46 8 402 9092.
Proxy forms are available on the Company website www.kambi.com under the AGM section.
The Annual Report is available via a pdf in English on the Company's website www.kambi.com .
Agenda 1. Opening of the Meeting
2. Election of Chairman of the Meeting
3. Drawing up and approval of the voting list
4. Approval of the Agenda
5. Determination that the Meeting has been duly convened
6. The CEO's presentation
Ordinary Business (Ordinary Resolutions)
7. To receive and approve the Consolidated Financial Statements (Annual Report) of the Company for the year ended 31 December, 2016 and the Report of the Directors and Report of the Auditors thereon. ( Resolution a )
8. Presentation by the Nomination Committee
9. To approve the Report on Directors' remuneration as set out in the Annual Report for the year ended 31 December 2016. ( Resolution b )
10. To determine the Board members' fees for 2017. ( Resolution c )
11. To re-elect Lars Stugemo as a Director of the Company. ( Resolution d )
12. To re-elect Anders Ström as a Director of the Company. ( Resolution e )
13. To re-elect Susan Ball as a Director of the Company. ( Resolution f )
14. To re-elect Patrick Clase as a Director of the Company. ( Resolution g )
15. To elect Cecilia Wachtmeister as a Director of the Company. (Resolution h)
16. To re-appoint Mazars as auditors of the Company, and to authorise the Directors to determine their remuneration. ( Resolution i )
Special Business (Ordinary Resolutions)
17. THAT the Directors be and are hereby duly authorised and empowered in accordance with Articles 85(4) and 88(7) of the Companies Act (Cap.386 of the Laws of Malta) and Article 9 of the Articles with immediate effect and for a period of 5 years from the date of this resolution to issue options to be allotted with Ordinary 'B' shares in the Company having a nominal value of €0.003 up to the equivalent of 5% of the issued Ordinary 'B' Shares of the Company from time to time, solely for the purpose of issuing such shares to holders (if any) or future holders of options under the Kambi Group plc Share Option Plan 2013 as may from time to time be approved by the Directors for this purpose, without first offering the said options and the shares subject thereto to existing members of the Company. This resolution is being taken in terms of and for the purposes of the approvals necessary in the Companies Act and the Articles of Association of the Company. ( Resolution j )
18. THAT the Directors be and are hereby duly authorised and empowered in accordance with Articles 85(1) and 88(7) of the Companies Act and Article 3 of the Articles, on one or several occasions prior to the date of the next Annual General Meeting of the Company, to issue and allot up to a maximum of 2,987,519 Ordinary 'B' shares in the Company of a nominal value of €0.003 each (corresponding to a dilution of 10%) for payment in kind or through a direct set-off in connection with an acquisition, and to authorise and empower the Directors to restrict or withdraw the right of pre-emption associated to the issue of the said shares. This resolution is being taken in terms and for the purposes of the approvals necessary in terms of the Companies Act and the Articles of Association of the Company. ( Resolution k )
Special Business (Extraordinary Resolutions)
19. Whereas (i) at a meeting of the Board of Directors of the Company held on 10 April 2017, the Directors resolved to obtain authority to buy back Ordinary 'B' shares in the Company having a nominal value of €0.003 each; and
(ii) pursuant to Article 5 of the Articles and Article 106(1) (b) of the Companies Act a company may acquire any of its own shares otherwise than by subscription, provided inter alia authorisation is given by an extraordinary resolution, which resolution will need to determine the terms and conditions of such acquisitions and in particular the maximum number of shares to be acquired, the duration of the period for which the authorisation is given and the maximum and minimum consideration.
Now therefore the members of the Company resolve that the Company be generally authorised to make purchases of Ordinary 'B' shares in the Company of a nominal value of €0.003 each in its capital, subject to the following:
(a) the maximum number of shares that may be so acquired is 2,987,519, which is equivalent to 10% of total shares; (b) the minimum price that may be paid for the shares is SEK1 per share; (c) the maximum price that may be paid for the shares is SEK500 per share; and (d) the authority conferred by this resolution shall expire on the date of the 2018 Annual General Meeting, but in any case shall not exceed the period of 18 months, but not so as to prejudice the completion of a purchase contracted before that date. ( Resolution l )
Information about proposals related to Agenda items
Agenda item 10 (Resolution c)
The Nomination Committee appointed by the Directors of the Company pursuant to Article 90 of the Articles, proposes that the aggregate amount per annum of the ordinary remuneration of Directors shall not exceed €282,500.
The Directors have determined in terms of Articles 68 and 69 of the Articles that the annual amount of the ordinary remuneration of a Director shall be €40,000 and of the Chairman of the Board shall be €90,000. The annual extra remuneration payable to each member of the Audit Committee and the Remuneration Committee shall be €6,500.
The levels of said remuneration have been effective since 2016, and the Directors propose the level of remuneration to each director remains unchanged in 2017.
Agenda item 15 (Resolution h)
Cecilia Wachtmeister is currently Vice President and Head of Global Sales Industry & Society at Ericsson AB. Prior to this, Cecilia was based in Germany, as Head of Customer Unit, servicing Deutsche Telekom. She joined Ericsson in 1991 and has since then held various positions in the company. Among these, a three year assignment as VP Sales in Mexico, and more than five years on building the joint venture between Ericsson and Sony. At Sony Ericsson, she was Global Account Manager for Orange and Hutchison, based in London. Cecilia has an MSc degree in Industrial Engineering and Management from Linköping Institute of Technology in Sweden. As of 1 May 2017, Cecilia will assume the position as Vice President, Group Head of Sourcing/Procurement within Ericsson.
Agenda item 17 (Resolution j)
The establishment of the executive share option plan (Share Option Plan 2013), with the scheme providing an ongoing retention/reward horizon for employees up to December 2023, was approved by shareholders on November 14 th , 2012. The resolution extends the required authority to the Directors for a five-year period for the purposes of the same scheme. In the window February 14 th , 2017 to March 6 th , 2017, 134,000 options have been exercised at the strike price of GBP1.23, consequently 134,000 Ordinary B shares have been issued, 9% of options held by the senior executive team have been exercised. Further details of the Share Option Plan 2013 are available on the Annual Report 2016 (page 56, note 26).
Agenda item 18 (Resolution k)
The objectives of the authorisation are to increase the financial flexibility of the Company and to enable the Company to use its own financial instruments for payment in kind or through a directed set-off to a selling partner in connection with any business acquisitions the Company may undertake or to settle any deferred payments in connection with business acquisitions. The market value of the shares on each issue date will be used in determining the price at which shares will be issued. For the purposes of Article 88(7) of the Companies Act, through this resolution the members of the Company are also authorising the Board of Directors to restrict or withdraw the members' right of pre-emption that would normally entitle members to be offered the newly issued shares in the Company in proportion to their shareholding before such new shares are offered to third parties.
Agenda item 19 (Resolution l)
The Board of Directors proposes that the acquisition by the Company of its own shares shall take place on First North at NASDAQ Stockholm or via an offer to acquire the shares to all members of the Company. Such acquisitions of own shares may take place on multiple occasions and will be based on market terms, prevailing regulations and the capital situation at any given time. Notification of any purchase will be made to First North at NASDAQ Stockholm and details will appear in the Company's annual report and accounts. Any resolution to repurchase own shares will be publicly disclosed. The objective of the buyback and transfer right is to ensure added value for the Company's shareholders and to give the Board increased flexibility with the Company's capital structure. Following such buy-backs the intention of the Board would be to either cancel, use as consideration for an acquisition or transfer to employees under a Share Option Plan. Once repurchased, further shareholder and Bondholder approval would be required before those shares could be cancelled. If used as consideration for an acquisition the intention would be that they would be issued as shares and not sold first.
Note
Holder of the Convertible Bond
This notice is also sent to Moneytainment Media Ltd, a limited liability company incorporated in Malta with Registration No. C 41331, and of Registered Office at 157, Marina Sea Front, Pieta' PTA9043, Malta, as the holder of the Convertible Bond, having the right to attend the Annual General Meeting as an observer.
By order of the board, Maureen Ehlinger Company Secretary at Registered Office: Level 3, Quantum House, Abate Rigord Street, Ta' Xbiex XBX1120, Malta Malta, April 2017
About Kambi
Kambi Group plc is a B2B provider of premium sports betting services to licensed B2C gaming operators. The Company currently provide its services to 13 operators. Kambi's services encompass a broad offering from front-end user interface through to odds compiling, customer intelligence and risk management, built on an in-house developed software platform. Kambi employs 525 staff across offices in Malta (headquarters), Bucharest, London, Manila, Sydney and Stockholm. Kambi Group plc is listed on First North at NASDAQ Stockholm under the symbol "KAMBI". The Company's Certified Advisor is Redeye AB.
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