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Extraordinary general meeting in Sensys Gatso Group AB
25-09-2017
An Extraordinary General Meeting in Sensys Gatso Group AB has been held on 25 September 2017 in Jönköping.
Rights issue
The Extraordinary General Meeting resolved to approve the Board of Directors’ resolution on a rights issue.
Under the terms of the rights issue each existing share held on the record date 29 September 2017, entitles to one (1) subscription right, and seven (7) subscription rights entitle to subscription for two (2) new shares. The subscription price is SEK 0.55 per share which, at full subscription, will result in total issue proceeds of approximately SEK 100 million before issue costs. The subscription period is expected to run 3 October – 17 October 2017.
For further information on the rights issue, please refer to previous press releases published on 30 August 2017. Further information on the rights issue will also be included in the prospectus which is expected to be published on or around 28 September 2017.
Long term incentive program for the CEO
The Extraordinary General Meeting resolved, in accordance with the Board of Directors’ proposal, on a long term incentive program for the new CEO Ivo Mönnink.
The CEO will, under the program, be granted, free of charge, options subject to three year vesting that entitle to acquire not more than 6,000,000 shares in the Company. The exercise price will correspond 130 percent of the volume weighted average price of the Company’s shares on Nasdaq Stockholm for the period from and including 28 September 2017 to and including 11 October 2017. The maximum number of shares that may be issued pursuant to an exercise of options under the program is 7,980,000 shares (including exercise of warrants for hedging of social security costs), corresponding to a maximum dilution of approximately 1.2 percent.
The information was submitted for publication, through the agency of the contact person set out above, at 16.20 on the 25 September 2017.
For further information:
Claes Ödman, Chairman of the Board
+46 70 852 85 12
Sensys Gatso Group AB is a global leader in traffic management solutions for nations, cities and fleet owners. Sensys Gatso Group has subsidiaries in Australia, Germany, the Netherlands, Sweden and the USA, and a branch office in the United Arab Emirates. The Sensys Gatso Group’s shares are listed on Nasdaq Stockholm and has 169 employees.