Report of the annual general meeting of OXE Marine AB (publ) on April 16, 2021

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STOCKHOLM, April 16, 2021 / PRNewswire / –

The annual general meeting decided, among other things, as follows:

  • The 2020 income statement and balance sheet have been adopted. The meeting decided not to pay dividends for the 2020 financial year. The Board of Directors and the Chief Executive Officer were relieved of their responsibilities for the 2020 financial year.
  • Re-election of board members Anders Berg, Magnus folin, Jon lind and Mikael mellberg and election of Jonas Wikström as a new member of the board of directors.
  • Anders Berg was reappointed as Chairman of the Board of Directors.
  • The remuneration of the board of directors amounts to a total of 1,020,000 SEK, whose 340,000 SEK is paid to the president and 170,000 SEK is paid to each of the other members of the board.
  • Re-election of Ernst & Young AB as statutory auditor for the period until the end of the annual general meeting 2022.
  • Authorization to be given to the board of directors to decide on new issues of shares, bonds and / or convertibles. The board of directors has the right to resolve questions of rights as well as questions derogating from the shareholders’ pre-emptive rights. The total increase in the shares issuable on the basis of the authorization may not exceed a total of 20 percent of the number of outstanding shares of OXE at the time of resolution on the issue.
  • Establishment of a long-term incentive program for senior executives. The resolution means that OXE will not issue more than 2,100,000 warrants to be subscribed by OXE and / or an OXE subsidiary, after which they will be transferred to participants in the incentive program. Each warrant gives the right to subscribe to one new OXE share at the subscription price of 6 SEK per share. The warrants may be exercised for the subscription of new shares during the following subscription periods: (i) three weeks after the publication date of OXE’s interim report for the first quarter of 2025, (ii) three weeks after the date of publication of the OXE interim report for the second quarter of 2025, and (iii) three weeks after the date of publication of the OXE interim report for the third quarter of 2025. The new shares that will be issued upon full subscription, the assignment and exercise of all vouchers will correspond to approx. 1 per cent of the total outstanding shares of OXE before the full exercise of the warrants of the 2018/2039 and 2020/2039 series and approx. 0.9% if all the warrants of the 2018/2039 and 2020/2039 series are exercised for the subscription of shares.

All the resolutions were taken in accordance with the proposals available before the general meeting. The full proposals are published on the company’s website www.oxemarine.com.

Certified advisor
FNCA Sweden AB is Certified Adviser for OXE Marine AB (publ).
FNCA Sweden AB contact details: tel. +46 8 528 00 399, e-mail [email protected]

For more information, please contact:

Myron mahendra
CEO
[email protected]
+46 76 347 59 82

Anders Berg
President of the council
[email protected],
+46 70 358 91 55

OXE Marine AB (released) (NASDAQ STO: OXE) (OTCQX: CMMCF) has, after several years of development, built the OXE Diesel, the world’s first diesel outboard motor in the high power segment. The company’s unique patented engine-to-propulsion power transmission solutions have resulted in strong demand for the company’s engines around the world.

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SOURCE OXE Marine AB


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