Information from the Surveillance function at Nasdaq Stockholm with regards to amendments to the Act on Temporary Exemptions (8/20)
Following up on the Surveillance update on March 31, 2020, regarding Corona related topics relevant for issuers on Nasdaq Stockholm and Nasdaq First North Growth Market Stockholm, Nasdaq now informs about amendments to the Act (2020:198) on temporary exemptions to facilitate the implementation of corporate and association meetings (the Act on Temporary Exemptions) that came into force today, May 18, 2020.
Summary
As of today, Swedish companies are temporarily allowed to hold general meetings without any physical participation. According to amendments to the Act on Temporary Exemptions general meetings can be held either by electronic connection in combination with postal voting, or by the shareholders only participating by postal vote. If the general meeting is held by postal vote only, shareholders must also be able to exercise their other rights by post.
To apply these temporary exemptions, it must be stated in the notice to the general meeting, entailing that the option to hold the meeting completely without physical participation can be applied by companies that have not yet convene the general meeting, or companies that decide to postpone the general meeting within the time limits set out in applicable law.
You can find the Act on Temporary Exemptions (available in Swedish only) – https://www.riksdagen.se/sv/dokument-lagar/dokument/svensk-forfattningssamling/lag-2020198-om-tillfalliga-undantag-for-att_sfs-2020-198
Please be advised that we are available for discussions regarding regulatory and disclosure-related matters. We encourage all Issuers to contact the Surveillance function should there be any questions regarding the rule books or the information in this letter.
You can contact the Surveillance function at:
Telephone: +46 (8) 405 70 50; or
E-mail: iss@nasdaq com
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