23 June 2020

Bulletin from Vitec Software Group AB’s Annual General Meeting, June 23 2020

Approval of income statement and balance sheet

The Annual General Meeting (AGM) approved the income statement and balance sheet for the Parent Company and the consolidated income statement and consolidated balance sheet for 2019.

Dividend

The proposed dividend of SEK 1.35 per share was approved by the AGM. The record date for the dividend is June 25 2020, September 25 2020, December 23 2020 and Mars 25 mars 2021. Payment from Euroclear Sweden AB is expected June 30 2020, September 30 2020, December 30 2020 and Mars 30 mars 2021.

Discharge

Board members and the President were discharged from liability for the financial year 2019.

Board of Directors

In accordance with the Nomination Committee's proposal, the Annual General Meeting resolved to elect Board members, Anna Valtonen, Birgitta Johansson-Hedberg, Jan Friedman, Kaj Sandart and Crister Stjernfelt, and to elect Crister Stjernfelt to the Chairman of the Board.

Directors' fees

The Meeting decided, in accordance with the Nomination Committee's proposal for an annual fee to the Chairman of SEK 350,000 and the other board members of the Board of SEK 175,000 each.

Auditor

The AGM decided to appoint the audit firm PricewaterhouseCoopers AB, with Niklas Renström as the main auditor, for the period until the end of the 2021 AGM.

Guidelines for remuneration to senior executives

In accordance with the Board's proposal the AGM approved the guidelines for remuneration to senior executives. Senior executives refer to the CEO and other members of management.

The Board of Directors’ proposal on authorization of the Board of Directors to resolve

to issue new shares

In accordance with the Board's proposal, the Annual General Meeting resolved to authorize the Board to, until the time of the next Annual General Meeting, be able to decide on a new issue and/or issuance of convertible debentures with deviation from the shareholders' preferential rights and with or without a provision for compensation or whether the share shall be subscribed for with set-off rights.

The Board of Directors’ proposal on authorization of the Board of Directors to resolve for the

company to acquire the company’s own shares

According to the Board of Directors' proposal, the Annual General Meeting resolved to acquire shares in the company.

The Board of Directors’ proposal regarding personnel convertible debenture program 2020

The Annual General Meeting resolved to adopt the Board's proposal regarding personnel convertible debenture program in accordance with the Board's proposal.

The Board of Directors’ proposal regarding participation program 2020

The AGM resolved to adopt the Board's proposal regarding warrants in accordance with the Board's proposal

The Board of Directors’ proposal for resolution to amend the Articles of Association

The AGM approved the Board's proposal regarding amendments to the Articles of Association.

 

For more information, please contact

Patrik Fransson, Investor Relations

patrik.fransson@vitecsoftware.com

+46-76-9428597


About Vitec

Vitec is market leader for Vertical Market Software in the Nordic region. We develop and deliver standard niche software. Vitec grows through acquisitions of well-managed and well-established software companies. The Group's overall processes together with the employees' in-depth knowledge of the customer's local market enables continuous improvement and innovation. Our 800 employees are based in Denmark, Finland, Norway and Sweden. Vitec is listed on Nasdaq Stockholm and had net sales of SEK 1 156 million in 2019. Find more at www.vitecsoftware.com.