Bulletin from the extraordinary general meeting in Terranet AB on 31 January 2024
January 31 2024 - 6:00AM
UK Regulatory
Bulletin from the extraordinary general meeting in Terranet AB on
31 January 2024
The extraordinary general meeting in
Terranet AB, reg. no. 556707-2128 (the "Company") took place today,
31 January 2024, at 11.00 a.m. at Eversheds Sutherland
Advokatbyrå's premises at Sveavägen 20 in Stockholm. The meeting
resolved with the required majority in accordance with the
following:
Resolution on a) the number of members
of the board of directors of the Company, b) election of a member
of the board of directors and c) determination of the remuneration
to a member of the board of directors.
The meeting resolved, in accordance with the
nomination committee's proposal, to increase the number of board
members in the Company to seven without deputies, to elect Mats
Fägerhag as a new board member in the Company until the end of the
annual general meeting 2024 and that Mats Fägerhag shall receive a
remuneration corresponding to the remuneration that the annual
general meeting 2023 resolved would be paid to board members who
are not employed by the Company calculated pro rata for the period
Mats Fägerhag is a board member in the Company until the end of the
next annual general meeting.
Resolution on approval of the board of
directors' resolution on a directed issue of units from 12 January
2024
The meeting resolved to approve the board of
directors' resolution on a directed issue of units from 12 January
2024 to the shareholder Maida Vale Capital AB. The subscription
price per unit amounts to SEK 0.14, meaning a subscription price
per share of SEK 0.07. Through the directed issue, the number of
shares in the Company will increase by 32,142,856 from 865,860,151
to a total of 898,003,007 shares, corresponding to a dilution for
existing shareholders of approximately 3.58 percent. Upon full
exercise of the warrants of series TO8, the number of shares in the
Company will increase by an additional 16,071,428 and the Company
may thus receive a maximum of approximately SEK 2.5 million.
Resolution authorising the
board of directors to make minor adjustments to the resolutions
adopted at the meeting
The general meeting resolved to authorise the
board of directors, the CEO or the person otherwise appointed by
the board of directors to make such minor adjustments and
clarifications to the resolutions adopted at the general meeting as
are necessary for the registration of the resolutions.
Comments from Magnus Andersson,
CEO
"We look forward to a fruitful and long-term collaboration with
Mats Fägerhag, both on the Board of Directors and in the role of
advisory consultant. Mats has extensive experience with his 35
years in various leading roles in the automotive industry, most
recently as CEO of the development company CEVT, and will be able
to strongly contribute to the company's continued journey towards a
successful commercialization of BlincVision.
Once again, I would like to express my gratitude for the trust
shown by investors by participating in the directed share issue.
This addition, combined with favourable outcomes from the warrants
of series TO7 and TO8 in 2024, gives us some leeway, a stronger
position in our business development work and good conditions to
manage liquidity into 2025."
For more information,
please contact
Magnus Andersson, CEO
E-mail: magnus.andersson@terranet.se
About Terranet AB
(publ)
Terranet is on a mission to save lives in urban
traffic.
We develop breakthrough tech solutions for
Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles
(AV) that protect vulnerable road users.
With a unique and patented vision
technology, Terranet’s anti-collision system BlincVision scans and
detects road objects multiple times faster and with higher accuracy
than any other ADAS technology available today.
Terranet is based in Lund, Sweden, and in
the heart of the European automotive industry in Stuttgart,
Germany. The company is listed on Nasdaq First North Premier Growth
Market since 2017(Nasdaq: TERRNT-B).
Follow our journey
at www.terranet.se
Certified Adviser to Terranet is Mangold
Fondkommission AB, 08-503 015 50, ca@mangold.se.
- Terranet AB - Bulletin from EGM 31 January 2024
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