Business News
ReadSoft AB Annual General Meeting 2008
Monday 28. April 2008 - CEO and President Jan Andersson noted in his address that ReadSoft during 2007 focused on investments for long-term growth and profitability.
During the year almost 100 new employees joined the company, new sales companies were established in Asia and Benelux, the company’s new software platform was launched, as were a number of new products. During the same period ReadSoft supplied solutions to over 800 new customers worldwide. In the US growth accelerated strongly during 2007, a positive trend that has continued during the first quarter 2008 concluded CEO Jan Andersson.
At ReadSoft AB’s annual meeting today, the following resolutions were among those passed:
Election of Board of directors
All Directors with exception of Gündor Rentsch were re-elected. Håkan Valberg was elected new Director. The Directors are Göran E. Larsson (chairman), Lennart Pihl, Anna Söderblom, Lars Appelstål and Håkan Valberg.
Dividend
The annual meeting decided on no dividend for the year 2007.
Nomination committee
The meeting decided that a nomination committee shall be appointed with the assignment in connection with next year’s annual meeting to submit proposals, among others, with respect to election of the Board of Directors, compensation to the Board and the auditors and election of an election committee. The chairman of the Board shall invite minimum three and maximum five of largest shareholders as per 30 September 2008 to appoint one representative each and to together with the chairman comprise the Nomination Committee.
Incentive program
The meeting decided to approve the resolution from the board on an incentive program for employees. Right to subscribe to the convertibles shall be leading employees and key employees in the ReadSoft group. The program will consist of maximum 350,000 convertibles and one convertible may be conversed to one B-share. Conversion to B-shares may be made from December 9, 2010 to May 20, 2011. The conversion price shall correspond to 125 % of the average price paid for the B -share in the company on the Stockholm stock exchange’s official list during the period April 28 – May 5, 2008. At full conversion the company’s share capital will increase with SEK 35,000 and the dilution will be approximately 1.1 percent of the share capital and 0.8 percent of the votes.
Authorization of the Board to decide on new issues of shares
The meeting decided to authorize the Board of Directors to, at one or several occasions, up to the next annual meeting 2009, execute new issues of shares with maximum 3,200,000 shares, series B. The new shares may be issued with deviation of shareholders’ preferential rights. The reasons for the Board to be able to deviate from shareholders’ preferential rights are that financing may be required in connection with future acquisitions with payment in shares and/or issue of new shares with payment in capital contributed in kind.