Published: 2017-05-18 12:35:00 CEST
Vostok Emerging Finance Ltd
Resolutions of annual general meeting

Bulletin from the Annual General Meeting in Vostok Emerging Finance Ltd.

The Annual General Meeting in Vostok Emerging Finance Ltd (the “Company”) was held on Thursday, May 18 2017, at 10 am CEST at Advokatfirman Vinge, Norrlandsgatan 10, Stockholm, Sweden.

Stockholm, 2017-05-18 12:35 CEST (GLOBE NEWSWIRE) --  

At the Annual General Meeting, the holders of depository receipts considered the below items.

-    It was resolved to adopt the profit and loss statement from the period from the 1st January up to and including the 31st December 2016 as well as the balance sheet as of the 31st December 2016. In accordance with the proposal by the Board of Directors, it was resolved that no dividend is paid to the shareholders and that the Company’s results are brought forward.

-    It was resolved that the members of the Board of Directors shall be six, with no deputies, and Lars O Grönstedt, Per Brilioth, David Nangle, Milena Ivanova and Voria Fattahi were re‑elected as directors and Ranjan Tandon was elected as new director. Lars O Grönstedt was elected Chairman of the Board of Directors. All elections were made for the period until the end of the Annual General Meeting 2018. Furthermore, it was resolved that remuneration for the Board (including remuneration for the work within the committees of the Board) shall be a total remuneration of SEK 1,200,000, of which SEK 400,000 shall be allocated to the Chairman of the Board of Directors and SEK 200,000 to each of the other directors who are not employed by the Company, and that, in line with Swedish market practice, Directors who so wish shall be permitted to invoice the Company for their Board fees in an amount that is cost neutral to the Company, provided any Director who does so is solely liable for any tax effects.

-    It was resolved to re-elect the registered audit company PricewaterhouseCoopers AB as the Company’s auditors.

-    It was resolved in accordance with the nomination committee’s proposal, on principles for the appointment of the nomination committee for the Annual General Meeting in 2018.

 -   It was resolved in accordance with the Board of Directors’ proposal on remuneration principles for the senior management.

-    It was resolved in accordance with the Board of Directors’ proposal to introduce a long term incentive programme.

 

For further information please contact:
Henrik Stenlund, CFO: +46 (0)8 545 015 50

 

Vostok Emerging Finance is an investment company with the goal of investing in early stage modern financial services companies across emerging and frontier markets. VEF trades in Sweden on Nasdaq First North under the ticker VEMF SDB.

Vostok Emerging Finance’s Certified Adviser on Nasdaq First North is Pareto Securities AB.


VEF_AGM_2017_bulletin.pdf