Annual General Meeting of Endomines AB (publ) on April 26, 2012
(Thomson Reuters ONE) -
The press release can be downloaded from the following link:
Annual General Meeting of Endomines AB (publ) on April 26, 2012
The Annual General Meeting (the "AGM") of shareholders of Endomines AB (publ)
was held on April 26, 2012.
Appropriation of Endomines AB's (publ) loss
The AGM resolved to adopt the Profit and Loss Statement and the Balance Sheet
for the Parent Company as well as the Consolidated Profit and Loss Statement and
the Consolidated Balance Sheet for the Group for 2011. The AGM resolved to
transfer the accumulated deficit to losses on SEK 76,599,269 carried forward.
The members of the Board of Directors and the President were discharged from
liability for the financial year 2011.
Board of Directors
The AGM resolved that the Board of Directors should consist of six members. Timo
Lindborg, Lars-Göran Ohlsson, Rauno Pitkänen and Staffan Simberg were re-elected
as members of the Board of Directors. Meg Tivéus was elected as a new member of
the Board of Directors. In addition Karl-Axel Waplan was re-elected as chairman
of the Board. Carina Hellemaa and Eva Redhe Ridderstad have declined re-
election.
The AGM further resolved that the yearly fees shall be SEK 250,000 to the
chairman of the Board of Directors and SEK 150,000 to each of the non-employed
members of the Board. It was further resolved that Committee work fees shall be
SEK 25,000 to each member of the remuneration committee, audit committee and
technical committee and SEK 50,000 to the chairman of the audit committee. It
was also resolved that an additional fee of SEK 180,000 shall be paid to Eva
Redhe Ridderstad for a work effort beyond the ordinary in connection with
preparations for a future change of listing venue.
The Nomination Committee
The AGM approved the proposal for a Nomination Committee for the AGM 2013 and
that it shall consist of three members, of which two shall represent the larger
shareholders and the third shall be the chairman of the Board of Directors. The
chairman of the Board of Directors shall during the autumn 2012 contact the
larger shareholders as per 31 August 2012 to establish a Nomination Committee.
The shareholders, which at such point in time, holds the largest numbers of
votes shall have the right to appoint one representative each to, next to the
chairman of the Boards of Directors, form the Nominations Committee until the
next AGM.
Guidelines for remuneration to senior executives
The AGM also resolved to approve to Board of Directors' proposal for guidelines
for remuneration to senior executives.
Authorization for the Board of Directors to resolve on a new issue of shares
The AGM resolved to authorize the Board of Directors during the period up to the
next Annual General Meeting to resolve on the issuance of shares, with deviation
from the shareholders' preemption right. By resolution pursuant to the
authorization the number of shares that may be issued shall not exceed 10 per
cent of the existing registered shares.
For further information please contact:
CEO Markus Ekberg, Endomines AB, tel. +358 40 706 48 50
Karl-Axel Waplan, Chairman of the Board of Endomines AB, tel +46-70-510 42 39
About Endomines AB:
Endomines AB is a Nordic mining and exploration company with its first operating
gold mine in production since February 2011. The mine is located in Eastern
Finland, on the Karelian Gold Line, a 40 km long gold critical belt, where
Endomines controls all currently known gold deposits.
The company has several other gold and industrial mineral properties at various
stages of development. All Endomines' mineral assets are located in Finland,
which is politically stable, has a highly developed infrastructure and is ranked
as one of the most favorable jurisdictions for the mining industry.
Endomines aims to increase shareholder value by developing its strong portfolio
of assets, as well as exploring new deposits on the Karelian Gold Line and in
Finnish Lapland. The company will also consider new opportunities and
acquisitions for further growth.
The company's business practices and mining operations are based on sustainable
principles and on minimizing the impact on the environment.
Endomines applies SveMin's&FinnMin's respective rules for reporting (public
mining & exploration companies). It has also chosen to report mineral resources
and ore reserves according to the JORC-code, which is the internationally
accepted Australasian code for reporting ore reserves and mineral resources.
Endomines applies International Financial Reporting Standards (IFRS) as approved
by the European Union.
The shares of Endomines AB are quoted on the First North Premier segment in
Stockholm under ticker ENDO.ST. Erik Penser Bankaktiebolag acts as Certified
Adviser and Liquidity Provider.
Read more about Endomines on www.endomines.com
Annual General Meeting of Endomines AB (publ) on April 26, 2012:
http://hugin.info/138043/R/1606342/509155.pdf
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Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Endomines AB via Thomson Reuters ONE
[HUG#1606342]
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Datum: 26.04.2012 - 11:36 Uhr
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