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Announcement from TerraNet Holding's annual general meeting

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TerraNet AB
·3-min read
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Press release, Lund 29 April 2021

Announcement from TerraNet Holding's annual general meeting

The annual general meeting of TerraNet Holding AB ("TerraNet" or the "Company") was held today on 29 April 2021 and the following resolutions were passed by the meeting.

ADOPTION OF THE INCOME STATEMENT AND BALANCE SHEET
The annual general meeting resolved to adopt TerraNet's income statement and balance sheet as well as the consolidated income statement and consolidated balance sheet.

DISTRIBUTION OF PROFIT
The annual general meeting resolved to treat the result in accordance with the proposal of the board of directors in the annual report, meaning that the result is carried forward.

DISCHARGE FROM LIABILITY
The directors and managing director were discharged from liability for the 2020 financial year.

ELECTION OF THE BOARD OF DIRECTORS AND AUDITOR, AND DIRECTORS' AND AUDITORS' FEES
The annual general meeting resolved that the board of directors shall consist of five directors without deputies. It was further resolved that the Company shall have one registered auditing firm as auditor.

Göran Janson, Karolina Bjurehed, Arne Hansson, Lars Novak and Michel Roig were re-elected as a directors. Göran Janson was re-elected as chairman of the board of directors.

Deloitte AB was re-elected as the Company's auditor. Deloitte AB has announced that authorized accountant Richard Peters will continue as main responsible auditor.

It was resolved that the remuneration to each director elected by the meeting and who is not employed by the Company or the group shall be SEK 100,000 (SEK 100,000) and the chairman of the board of directors is to receive SEK 200,000 (SEK 200,000), in total SEK 600,000 (SEK 700,000 previous year).

More information regarding the elected directors can be found on the Company's website and in the annual report for 2020.

PRINCIPLES FOR THE NOMINATION COMMITTEE
The annual general meeting resolved to adopt the principles for the nomination committee included in the notice.

AMENDMENTS OF THE ARTICLES OF ASSOCIATION REGARDING, INTER ALIA, COMPANY NAME
The annual general meeting resolved, in accordance with the board of directors' proposal, to change the Company's name to Terranet AB. It was further resolved to amend the clause regarding attendance at general meetings due to changes in the Swedish Companies Act. It was also resolved to introduce the possibility to collect proxies and postal voting.

AUTHORIZATION FOR THE BOARD OF DIRECTORS TO RESOLVE ON ISSUANCES
It was resolved, in accordance with the board of directors' proposal, to authorize the board of directors during the period up until the next annual general meeting to, on one or more occasions, resolve to issue B shares, convertibles and/or warrants, with the right to convert and subscribe for B shares, respectively, with or without preferential rights for the shareholders, within the limits of the articles of association, to be paid in cash, in kind and/or by way of set-off.

For the full proposals regarding the above resolutions at the annual general meeting, please refer to the notice and the annual report which are available on the Company's website, www.terranet.se.

For further information, please contact:

Pär-Olof Johannesson, CEO
Tel: +46 70 332 32 62
E-mail: parolof.johannesson@terranet.se

Johan Wångblad, CFO
Tel: +46 72 529 05 58
E-post: johan.wangblad@terranet.se

About Terranet

Terranet develops software for radio-based solutions and three-dimensional image analysis for advanced driver-assistance systems and autonomous vehicles (ADAS and AV). In-line with Scandinavia’s rich history of bringing innovative safety measures to the automobile industry, Terranet is pioneering breakthrough safety technology VoxelFlow™ for the ADAS and AV industries at its headquarters in Lund, Sweden and its development sites in Kyiv, Ukraine and Stuttgart, Germany. Terranet AB is listed on the Nasdaq First North Premier Growth Market (Nasdaq: TERRNT-B.ST).

You can now subscribe to Terranet’s newsletter, sign up at www.terranet.se/en/ir-2/.

Certified Adviser: Mangold Fondkommission AB, 08-503 015 50, ca@mangold.se.