Discussed Decisions at Sleep Cycle's Yearly Shareholders Gathering 2024
Sleep Cycle AB (publ) has announced the results of its Annual General Meeting (AGM) 2024, which took place on 11th April. Here's a summary of the key decisions made during the meeting.
The AGM saw the election of four new members to the Board of Directors: Anne Broeng, who was re-elected as Chairperson, Maciej Drejak, Mathias Høyer, and Hans Skruvfors. The Board members and the CEO were also discharged from liability for their administration of the company for the financial year 2023.
Shareholders voted in favour of a dividend of SEK 2.30 per share, with SEK 1.30 as ordinary dividend for 2023 and SEK 1.00 as extraordinary dividend. The record date for the dividend was set to 15th April 2024, and the dividend is expected to be distributed by Euroclear Sweden AB starting 18th April 2024.
In other business, the income statement, balance sheet, consolidated income statement, and consolidated balance sheet for the financial year 2023 were adopted at the AGM. The AGM also approved the Board of Directors' remuneration report for the financial year 2023.
An incentive program for employees of the company was resolved upon, involving a directed issue of warrants Series 2024/2027 and a gratuity. The right to subscribe for the warrants will accrue to the employees of the company, with deviation from the shareholders' preferential right. The subscription price per share will be 160% of SEK 37.03. The total salary cost excluding social security contributions for each participant shall not exceed SEK 60,000 and comprise a maximum of 10,000 warrants per participant.
New principles for the establishment of a Nomination Committee were adopted, to apply until further notice. Ohrlings PricewaterhouseCoopers AB was re-elected as auditor of the company until the close of the AGM 2025. Board fees were set at SEK 735,000 for the Chairperson and SEK 290,000 for each other Board member elected by the AGM. Fees for work in the Audit Committee and Remuneration Committee were also determined.
Subscription of shares by exercise of warrants will take place between 15th May 2027 and 15th June 2027. In the event that all warrants are exercised, the number of shares will increase by 800,000, resulting in a dilution of approximately 3.8% of the shares and votes based on the company's current number of shares. The company will issue a maximum of 800,000 warrants, each giving the right to subscribe for one new share.
Fees to the auditor shall be paid in accordance with approved invoice. The AGM concluded with the approval of the Board's proposal to authorise the Board to resolve on new issues of shares, warrants, and convertibles, with deviation from the shareholders' preferential rights.
For specific details about the 2025 Annual General Meeting (AGM) of Sleep Cycle AB (publ), including dividend amounts, board members, or incentive programs, please consult the official reports or announcements from Sleep Cycle AB (publ) directly or check their official website for AGM documentation.
The newly elected Board members, including Anne Broeng, Maciej Drejak, Mathias Høyer, and Hans Skruvfors, will oversee the financial administration of the company. The AGM approved an incentive program for employees, involving a directed issue of warrants and a gratuity, which could potentially impact business decision-making.
