Extra General Meeting in Polymer Factory Sweden AB (publ) was held today, 20 December 2021. In light of the ongoing Covid-19 pandemic and the authorities’ regulations/advice on avoiding public gatherings, the Extra General meeting was held only by postal voting and thus without physical presence of shareholders, proxies, or external parties. Summarized below are the most important decisions from the Extra General Meeting.
Decision on the establishment of an incentive program for key personnel
The Extra General Meeting (EGM) resolved unanimously in accordance with the owners' proposal to implement warrant programs in accordance with "Terms and Conditions for option program, Series 2021/2026. The meeting therefore resolved to
to issue a maximum of 75,000 warrants, each of which gives the right to subscribe for one share with deviation from the shareholders' preferential rights to key persons that may be of great importance for the company's future according to the Board's assessment;
that the options may be subscribed for no later than January 17, 2022. The Board of Directors shall have the right to extend the time for subscription for options that have not been subscribed for and that fall within the maximum number of options that may be issued, but no later than the next Annual General Meeting or May 31, 2022, which occurs first;
that payment for the options shall be made with approximately SEK 0.41 for each option that gives the right to subscribe for a new share. The amount has been determined using the Black-Scholes formula for option price valuation and may finally be adjusted on the issue date;
that payment for the options must be made no later than two weeks after subscription of the option;
that the share capital can be increased by a maximum of SEK 7,500;
that SEK 20.94 must be paid when subscribing for each new share;
that the option right may be exercised during the period 15 January 2026 to 31 January 2026;
that shares that have been added due to subscription entail the right to a dividend for the first time on the day the dividend is paid, which follows immediately after the subscription has been executed;
that the premium when subscribing for shares through the exercise of a warrant shall be added to the free premium fund.
Find the full press release here: