At Net Entertainment NE AB’s annual general meeting on Wednesday April 13, 2011 the following was resolved.
Adoption of financial statements and dividend
The meeting adopted the income statement and balance sheet along with the consolidated income statement and balance sheet and resolved that no dividend is to be paid for the financial year 2010. See also splitting of shares and automatic redemption procedures below.
Board of Directors
The Board of Directors and the Managing Director were discharged from liability for the financial year 2010. The meeting decided to reelect Vigo Carlund, Fredrik Erbing, Niclas Eriksson, Mikael Gottschlich and Peter Hamberg and new election of Pontus Lindwall. Vigo Carlund was elected chairman of the Board. It was decided that remuneration for the Board of Directors shall be SEK 550,000 for the chairman and SEK 220,000 for each of the members of the board elected by the annual general meeting who are not employees of the company and addition thereto, remuneration to the chairman of the audit committee shall be SEK 50,000. Remuneration for the auditor shall be in accordance with approved invoice.
Nominating Committee
The meeting decided that the chairman of the Board of Directors should summon a nominating committee consisting of a representative for each of the three largest shareholders as of August 31, 2011, who along with the chairman of the Board of Directors will be members of the nominating committee for the annual general meeting in 2012. The representatives must be appointed and made public at the latest six months before the annual general meeting in 2012.
Guidelines for remuneration to senior executives
The meeting resolved to adopt the Board of Director’s proposal regarding guidelines for remuneration to senior executives.
Splitting of shares and automatic redemption procedures
The meeting resolved to adopt the proposal regarding splitting of shares and automatic redemption procedures, entailing a value transfer to the shareholders corresponding to SEK 2.00 per share. During the meeting following the general meeting the Board of Directors resolved, in accordance with the mandate from the general meeting, determined the record day for splitting of shares to be April 21, 2011 and the record day for repurchase of redemption to be May 13, 2011.
Decision on authorization for the Board of Directors to decide on issuing new shares
The meeting resolved to adopt the proposal regarding an authorization for the Board of Directors to decide on issuing new shares.
Decision on introduction of incentive program
The meeting resolved to adopt the proposal regarding the introduction of incentive program.
The complete resolutions
The minutes for the annual general meeting including the complete resolutions as per above will be available shortly on the company’s website. In addition, there is an information brochure regarding the splitting of shares and automatic redemption procedures on the website www.netent.com/agm.
For additional information please contact;
Johan Öhman, CEO Net Entertainment; Phone +46 8 57 85 45 00
johan.ohman@netent.com
About Net Entertainment
Net Entertainment is a premium supplier of digitally distributed gaming systems used by some of the world's most successful online gaming operators. The Net Entertainment casino is a complete gaming solution comprising both a complete management platform and a full suite of high quality games. Operators are provided a customized casino that is easily integrated ensuring short time to market and a cost efficient operation. Net Entertainment is listed on Nasdaq OMX Stockholm (NET-B). More information about Net Entertainment is available at www.netent.com.
