Annual General Meeting Statement
At the May 15, 2007 annual general meeting for Jeeves Information Systems AB (publ), the board's proposal to provide a cash divided to shareholders for the previous fiscal year was approved at the amount of SEK 1.00 per share.
The decision was make to adopt the income statement and balance sheet and the profit brought forward will be carried forward in a new account after distribution. The annual general meeting decided to release the board and CEO from liability for the fiscal year 2006.
The annual general meeting also decided to re-elect the following as regular board members of Jeeves Information Systems AB (publ): Olle Ödman (Chairman), Assar Bolin, Stig-Olof Simonsson, Ann Jönsson-Lindström and Thord Johansson. One new board member was appointed: Anders Ingeström. The annual general meeting made the following determination regarding nomination committee members: Stig-Olof Simonsson and Assar Bolin were re-elected and Peter Lindvall was selected as a new member.
The annual general meeting decided on guidelines for remuneration to executive management. These primarily laid out that those holding executive management positions will be paid standard salaries and other employment terms for the market.
The annual general meeting decided to implement an employee convertible program by issuing maximum 149,393 convertible option rights, generating a dilution of maximum 5%. The employee convertible program will only be offered to employees of Jeeves Information Systems AB or its subsidiaries. Eligible parties must subscribe for convertibles by no later than June 20, 2007 and payment must be made no later than June 30, 2007. The convertibles run from July 1, 2007 to December 31, 2010. The convertible price is set to 130 percent of the volume-weighted average price paid for the company's common share as per the Stockholm Stock Exchange's official price list from April 21 to May 31, 2007. Conversion occurs during the period September 15 to November 30, 2010.
The annual general meeting decided to authorize the board to make a decision on new issue of share capital at no more than SEK 600,000 through on or more issues of a total of maximum 300,000 shares with or without preferential right for shareholders as per the following main conditions. The authorization may only be used in conjunction with the company's strategic acquisition.
The annual general meeting authorized the board to, up until the time of the next annual general meeting, on one or more occasions, to decide on the buyback of own shares. A buyback must be structured so that the company does not at any time hold more than 5 percent of the total number of shares in the company. Shares may only be bought back at a price that lies within the Stockholm Stock Exchange's valid price interval for shares in the company. The purpose of this authorization is to enable an adaptation of the company's capital structure to meet the company's capital needs and thereby contribute to an increased shareholder value. Any shares that are bought back will be invalidated through a reduction of share capital.
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