The extra general meeting of 2cureX (publ) ("2cureX" or the "Company") was held today on 8 August 2022 and the following resolution was passed by the meeting.
RESOLUTION REGARDING INCENTIVE PROGRAM 2022/2026 FOR CERTAIN DIRECTOR
It was resolved, in accordance with the shareholder Grith Hagel's proposal, to issue a maximum of 40,000 warrants, which may result in a maximum increase in the Company’s share capital of SEK 4,000. The warrants shall entitle to subscription of new shares in the Company.
The warrants may, with deviation from the shareholders' preferential rights, be subscribed for by the director Michael Schaefer, who has the right to subscribe for a maximum of 40,000 warrants.
The warrants shall be subscribed and paid for no later than on 31 August 2022 on a separate subscription list, with a right for the board to extend the subscription and payment period.
The warrants shall be subscribed for at a price equal to the warrant's market value, which shall be calculated according to the Black & Scholes valuation model or other generally accepted valuation model made by an independent appraiser or audit firm.
Each warrant entitles to subscription of one (1) new share in the Company during the period from 8 August 2026 up to an including 31 October 2026 or the earlier date set forth in the terms for the warrants.
The subscription price shall be determined to an amount equal to 110 percent of the volume weighted average price at Nasdaq First North Growth Market during a period of ten trading days prior to the extra general meeting on 8 August 2022. The calculated subscription price shall be rounded to the nearest SEK 0.01, where SEK 0.005 shall be rounded upwards to SEK 0.01. The subscription price may not amount to less than the quota value of the company's shares.
The maximum dilution of the incentive program is estimated to be not more than approximately 0.23 percent of the total number of shares and votes in the Company (calculated on the number of existing shares the Company), assuming full subscription and exercise of all warrants offered. The maximum dilution of the proposed incentive program plus the other outstanding incentive programs in the Company is estimated to not more than approximately 4.66 percent, assuming full subscription and exercise of all warrants offered and outstanding.
For the full proposal regarding the above resolution at the extra general meeting, please refer to the notice which is available on the Company's website, www.2cureX.com.