Welcome to attend MAG Interactive AB (publ)'s Annual General Meeting
Stockholm, Sweden - 11 December 2019
MAG Interactive AB (publ) hereby gives notice of its annual general meeting to be held at 7A Odenplan, address Norrtullsgatan 6, Stockholm, Tuesday 14 January 2020. The convention hall opens for registration to the annual general meeting at 09:30 am.
Participation
Any person is entitled to participate at the annual general meeting if they
are
entered in the share register maintained by Euroclear Sweden AB on Wednesday, 8 January 2020;
and
have notified the company at the latest on Wednesday 8 January 2020 in one of the following ways:
- by email to ir@maginteractive.com
- by telephone: +46 8-553 191 15
- in writing to address: Roschier Advokatbyrå, Att. Erik Ellenius, Box 7358, 103 90 Stockholm, Sweden
The notification must include the shareholder's name, personal ID number or company registration number, address, telephone number, and any potential assistants. Shareholders represented by proxy should submit proxy forms well in advance of the meeting.
The personal data obtained from the share register maintained by Euroclear Sweden, the notification of participation at the annual general meeting and the information regarding proxies and assistants will be used for registration, preparation of the voting register for the annual general meeting and, where applicable, minutes from the annual general meeting. The personal data will only be used for the annual general meeting 2020.
Nominee registered shares
In order to be entitled to participate at the annual general meeting, shareholders whose shares are registered in the name of a nominee through a bank or other nominee must request that they are entered in the share register maintained by Euroclear Sweden AB on Wednesday 8 January 2020. Shareholders should inform their nominees well in advance of this date.
Proxies, etc.
Shareholders who are represented by proxy must issue a proxy form for their proxy. If the proxy form has been issued by a legal entity, an attested copy of the certificate of registration of the legal entity evidencing its authority to issue the proxy form must be attached to the form. The original proxy form and the certificate of registration, where applicable, should be sent to Roschier Advokatbyrå, Att. Erik Ellenius, Box 7358, 103 90 Stockholm, Sweden, well in advance of the annual general meeting. Proxy forms are available at MAG Interactive's website, www.maginteractive.com.
Agenda
- Opening of the meeting and election of the chairman of the annual general meeting.
- Preparation and approval of the voting register.
- Approval of the agenda.
- Election of one or two persons to verify the minutes.
- Determination of whether the meeting has been duly convened.
- Presentation by the CEO.
- Presentation of the parent company's annual report and auditor's report, as well as the consolidated financial statements and the auditor's report.
- Resolutions to adopt the parent company's income statement and balance sheet, as well as the consolidated income statement and the consolidated balance sheet.
- Resolutions to allocate the company's profit or loss in accordance with the approved balance sheet.
- Resolution to discharge the board members and the CEO from liability.
- Determination of:
- The number of board members to be appointed by the annual general meeting.
- The number of auditors and alternate auditors to be appointed by the annual general meeting.
- Determination of:
- The fees to be paid to the board members.
- The fees to be paid to the auditors.
- Election of chairman of the board of directors and other board members.
- Election of auditors.
- Resolution to adopt guidelines for remuneration for the CEO and executive management.
- Resolution to grant the board of directors the authority to issue new shares, whether applying or disapplying pre-emption rights for the company's shareholders.
- Resolution regarding (a) a long-term employee stock option program; (b) issue of warrants; and (c) transfer of shares and/or warrants.
- Resolution regarding a long-term warrant program and issue of warrants.
- Closing of the annual general meeting.
Resolutions proposed by the board of directors
Item 9 – Resolutions to allocate the company's loss in accordance with the approved balance sheet
The board of directors proposes that no dividend is paid and that the loss for the year is carried forward.
Item 15 – Resolution to adopt guidelines for remuneration for the CEO and executive management
The board of directors proposes that guidelines for remuneration for the CEO and executive management should entail that remuneration to the executive management team shall be in accordance with market standards to secure the company's ability to attract and maintain competent leaders. The total remuneration for the executive management team shall consist of a fixed salary, long term incentives, variable salary and other benefits, such as non-monetary benefits, as well as pensions and insurances.
Item 16 – Resolution to grant the board of directors the authority to issue new shares, whether applying or disapplying pre-emption rights for the company's shareholders
The board of directors proposes that the shareholders adopt a resolution at the annual general meeting granting the board of directors the authority, on one or more occasions, for the period until the next annual general meeting, to issue new shares, either applying or disapplying shareholders' pre-emption rights.
If the board of directors resolves to issue new shares disapplying the shareholders' pre-emption rights, the reason for this must be to implement an acquisition agreement, or, alternatively, to procure capital for such acquisition.
The number of shares issued by virtue of the authority may not exceed an increase of ten (10) per cent of the share capital based on the share capital of the company on the date of the annual general meeting.
Item 17 – Resolution regarding a long-term employee stock option program, issue of warrants and transfer of shares and/or warrants
The board of directors proposes that the annual general meeting resolves on (A) a long-term employee stock option program (the "Employee Stock Option Program 2020/2023"), (B) issuance of warrants and (C) transfer of shares and/or warrants, in accordance with the below.
Background and rationale
The board of directors considers it to be in the interest of the company and the shareholders that the employees of the company are made part of the company's development by being offered employee stock options in a new incentive program. The reasons for the proposal are to contribute to the possibilities to retain and attract qualified personnel and to increase motivation of the employees of the company by being involved in and working for a positive value increase of the company's shares during the period covered by the Employee Stock Option Program 2020/2023.
In light of the terms and conditions, size of allotment and other circumstances, the board of directors considers the Employee Stock Option Program 2020/2023, in accordance with the below, to be reasonable and advantageous for the company and its shareholders.
A. The board of directors' proposal for implementation of the Employee Stock Option Program 2020/2023
The board of directors proposes that the annual general meeting of the company resolves to implement the Employee Stock Option Program 2020/2023 mainly in accordance with the following terms:
In total, the Employee Stock Option Program 2020/2023 shall consist of no more than 293,213 employee stock options, entitling to subscription for an equal number of shares, in accordance with the below.
Each employee stock option entitles the holder to
- acquire one (1) new share in the company against cash consideration ("Cash Exercise"). The acquisition of shares by way of Cash Exercise shall be done at an exercise price per share corresponding to 150 per cent of the volume-weighted average trading price of MAG Interactive AB (publ)'s share on Nasdaq First North during the period from 13 January 2020 up to and including 21 January 2020 (whereby the calculated exercise price shall be rounded to the nearest even hundredth of a krona, whereupon 0.005 krona will be rounded up), or
- acquire shares in the company by way of so-called cashless exercise ("Cashless Exercise") whereby the holder, by payment of the quota value of the shares, acquires such number of shares whose value corresponds to the market value of the total number of shares that employee stock options held entitle to, increased by the paid quota value and decreased by the total exercise price for the corresponding number of shares according to the employee stock options.
Market value per share in the above mentioned formula in (b) shall correspond to the volume-weighted average trading price of the shares of MAG Interactive AB (publ) on Nasdaq First North during the 10 days of trading preceding the day of exercising the options.
The exercise price and the number of shares that each employee stock option entitles to may be subject to recalculation in the event of a bonus issue, split, rights issue, etc., wherein the recalculation terms in the complete terms and conditions of the warrants shall be applied.
The Employee Stock Option Program 2020/2023 shall, in accordance with the below, be offered to: (i) all employees of the company (including subsidiaries of the company) as of 31 January 2020 (approximately 75 persons), excluding the company's executive management, and (ii) David Amor, who is the company's Chief Business Development Officer.
| Participants | Total maximum number of employee stock options |
| Employees (excluding executive management) | 263,213 |
| David Amor | 30,000 |
David Amor's right to participate in the Employee Stock Option Program 2020/2023 entails that he will not participate in Warrant Program 2020/2023 (item 18) alongside the other members of the executive management. Due to applicable rules in David Amor's country of residence (United Kingdom), it has been assessed that participation in the Warrant Program 2020/2023 will not lead to a reasonable outcome, hence failing to create the incentives that Warrant Program 2020/2023 is intended to create.
Notice of participation in the Employee Stock Option Program 2020/2023 shall have been received by the company on 28 February 2020 at the latest, and the board of directors shall be entitled to extend this time period. The allotment of employee stock options to participants shall be made promptly after the expiration of the notification period. Allotment requires that the participant or the company has not terminated the employment at the time of the allotment.
The allotted employee stock options, except for the employee stock options allotted to David Amor (which in their entirety will be vested on 1 March 2023), will be vested over a three-year period in accordance with the following:
- 1/3 of the allotted employee stock options will be vested on 1 March 2021;
- 1/3 of the allotted employee stock options will be vested on 1 March 2022; and
- 1/3 of the allotted employee stock options will be vested on 1 March 2023.
Vesting is accelerated, under certain conditions, in case of a merger in which the company is absorbed by another company or in case of a public offer for all shares in the company.
Vesting requires that the participant is still employed by the company and that the employee has not terminated the employment as of the date when the relevant vesting occurs. If a participant ceases to be employed or terminates the employment before a vesting date, the already vested employee stock options can be exercised on the ordinary date of exercise in accordance with the below, but further vesting will not take place. However, if the employee's employment expires due to termination by the company for any other reason than scarcity of work (Sw. arbetsbrist) or termination by the company without a valid reason (Sw. utan saklig grund), also vested options will expire.
The employee stock options shall not constitute securities and shall not be transferable or pledgeable.
The employee stock options shall be allotted without consideration.
The holders can exercise allotted and vested employee stock options during the period from and including 2 March 2023 up to and including 2 April 2023. The board of directors may, in individual cases, extend the exercise period to no later than 2 June 2023 if the holder, due to applicable rules, cannot exercise the options during the initial exercise period.
Regarding employees resident outside of Sweden, participation requires that such participation is in accordance with applicable laws, and that the board of directors, in its sole discretion, consider it to be possible with reasonable administrative and economic efforts.
The employee stock options shall be governed by separate agreements with each participant. The board of directors shall be responsible for the preparation and management of the Employee Stock Option Program 2020/2023 within the above mentioned substantial terms.
B. The board of directors' proposal for an issue of warrants
In order to enable the company's delivery of shares under the Employee Stock Option Program 2020/2023 as well as to enable the participants' choice between Cash Exercise and Cashless Exercise, the board of directors proposes that the annual general meeting resolves to issue warrants in two series in accordance with the following:
- issuance of not more than 293,213 warrants of series 2020/2023:1, free of charge, to a wholly owned subsidiary of MAG Interactive AB (publ) (the "Subsidiary"), as well as
- issuance of not more than 293,213 warrants of series 2020/2023:2, free of charge, to the Subsidiary.
Each warrant of series 2020/2023:1 and series 2020/2023:2 entitles the holder to subscription for one (1) share in MAG Interactive AB (publ) during the period from 22 January 2020, or the later date on which the warrants are registered, up to and including 15 July 2023. Subscription for new shares by way of exercising warrants of series 2020/2023:1 shall be made at a price per share corresponding to 150 per cent of the volume-weighted average trading price of MAG Interactive AB (publ)'s share on Nasdaq First North during the period from 13 January 2020 up to and including 21 January 2020 (whereby the calculated subscription price shall be rounded to the nearest even hundredth of a krona, whereupon 0.005 krona will be rounded up). The subscription price may not be less than the quota value of the shares. Subscription for new shares by way of exercising warrants of series 2020/2023:2 shall be made at a price per share of SEK 0.025974, which corresponds to the quota value of the shares. The exercise price and the number of shares that each warrant of series 2020/2023:1 and series 2020/2023:2 entitles may be subject to recalculation in the event of a bonus issue, share split, rights issue, etc., wherein the recalculation terms in the complete terms and conditions of the warrants shall be applied. The subscription of warrants shall be made no later than on 16 March 2020. However, the board of directors shall be entitled to extend the subscription period. There can be no over-subscription.
If the warrants of series 2020/2023:1 and series 2020/2023:2 are exercised in full, the share capital will increase by SEK 15,231.844156. However, since the warrants are intended to secure delivery of shares in the Employee Stock Option Program 2020/2023 as well as enable the participants' choice between Cash Exercise or Cashless Exercise, the Subsidiary will not exercise more than 293,213 warrants (of either series), which corresponds to the maximum number of employee stock options in the Employee Stock Option Program 2020/2023, entailing that the company's share capital will not increase by more than SEK 7,615.922078 if the Employee Stock Option Program 2020/2023 is exercised in full.
C. The board of directors' proposal for approval of transfer of shares and/or warrants
The board of directors proposes that the annual general meeting resolves to approve that the Subsidiary may transfer shares and/or warrants of series 2020/2023:1 and series 2020/2023:2 to the participants in the Employee Stock Option Program 2020/2023 in connection with the exercising of the employee stock options in accordance with the terms set out in section A.
Dilution effect, market value, costs, etc.
The board of directors' proposal to resolve on issuance of warrants entails a dilution effect corresponding to a maximum of approximately 2.18 per cent of the shares and votes in the company if the proposed warrants are exercised in full. However, since the warrants are intended to secure delivery of shares in the Employee Stock Option Program 2020/2023 as well as enable the participants' choice between Cash Exercise or Cashless Exercise, the Subsidiary will not exercise more than 293,213 warrants (of either series), which corresponds to the maximum number of employee stock options in the Employee Stock Option Program 2020/2023, entailing a maximum dilution effect of approximately 1.10 per cent. The dilution effect is calculated as the relation between the additional shares that the warrants will be exercised for and the sum of the current number of shares and the additional shares that the warrants will be exercised for. As presented above, in section B, the maximum number of warrants will not have to be exercised in order to enable the company to deliver the shares in the Employee Stock Option Program 2020/2023. Residual warrants will be cancelled and as such not result in any dilution effect for the shareholders.
The Employee Stock Option Program 2020/2023 is expected to have only marginal effects on the company's key ratios.
The board of directors' assessment is that the Employee Stock Option Program 2020/2023 will trigger costs mainly related to administration, accounting salary costs and social security contributions.
The total costs for administration are estimated to amount to approximately SEK 200,000.
The employee stock options do not have a market value since they are not transferable. However, the board of directors have calculated a theoretical value of the employee stock options in accordance with the Black & Scholes valuation formula. Based on an, from the time of the board of directors' proposal, unchanged share price of SEK 15.7, an assumed volatility of 40 per cent, risk free interest of -0.3 per cent, dividend yield of 0 per cent and illiquidity discount of 20 per cent, the value of the employee stock options in the Employee Stock Option Program 2020/2023 is according to this formula approximately SEK 1.75 per employee stock option. The transfer restrictions have not been taken into consideration in this valuation. Assuming that 100 per cent of the employee stock options in the Employee Stock Option Program 2020/2023 will be vested, the accounting costs for the options are calculated to amount to approximately SEK 513,000 during the period 2020-2023, based on the option's actual value at the start of the program.
The total costs for social security contributions during the vesting period will depend on the number of employee stock options that will be vested and the value of the benefit that the participant will receive. When assuming that 100 per cent of the employee stock options will be vested and with an assumed exercise price of SEK 23.6 and an assumed share price of SEK 30 when the options are exercised, the total costs for social security contributions will amount to approximately SEK 590,000. The costs for social security contributions will be recognised during the vesting period based on the value changes of the stock options.
All of the above calculations are preliminary and aim only to present an example of the potential costs that the Employee Stock Option Program 2020/2023 may incur. Actual costs may therefore deviate from the above calculations.
Preparation of the proposal
The proposal has been prepared by the board of directors together with external advisors.
Item 18 – Resolution regarding a long-term warrant program and issue of warrants
The board of directors proposes that the annual general meeting resolves on a long-term warrant program ("Warrant Program 2020/2023") and issuance of warrants, in accordance with the below.
Background and rationale
The board of directors considers it to be in the interest of the company and the shareholders that certain members of the executive management of the company are made part of the company's development by being offered warrants in a new incentive program. The reasons for the proposal are to contribute to the possibilities to retain and attract qualified personnel and to increase motivation for the executive management of the company by being involved in and working for a positive value increase of the company's shares during the period covered by the Warrant Program 2020/2023.
In light of the terms and conditions, size of allotment and other circumstances, the board of directors considers the Warrant Program 2020/2023, in accordance with the below, to be reasonable and advantageous for the company and its shareholders.
The board of directors' proposal for implementation of the Warrant Program 2020/2023 and issue of warrants
The board of directors proposes that the annual general meeting of the company resolves to issue warrants and implement the Warrant Program 2020/2023 mainly in accordance with the following terms:
In total, the Warrant Program 2020/2023 shall consist of no more than 233,213 warrants. Therefore, the board of directors proposes that the annual general meeting resolves to issue no more than 233,213 warrants of series 2020/2023:3.
The right to subscribe to the no more than 233,213 warrants in Warrant Program 2020/2023 shall, in accordance with the below and with deviation from the shareholders' pre-emption rights, be granted to the participants in the Warrant Program 2020/2023. The participants in the Warrant Program 2020/2023 are the members of the company's executive management, excluding David Amor (who participates in the Employee Stock Option Program 2020/2023 (item 17)) and the founders of the company (Daniel Hasselberg, Kaj Nygren and Johan Persson).
| Participants | Total maximum number of warrants |
| Patric Blixt | 130,000 |
| Other participants (Magnus Wiklander, Sara Hjärtberg and Magnus Holmström) | 103,213 |
The size of Patric Blixt's participation in Warrant Program 2020/2023 has been determined by the board of directors based on what is considered an appropriate incentive level, whereby the role, responsibilities and functions of Patric Blixt as well as Patric Blixt's compensation in general have been taken into consideration. It is anticipated that Patric Blixt's participation in future incentive programs will be based on the same allocation as for other members of the executive management.
Each warrant of series 2020/2023:3 entitles to subscription for one (1) share in MAG Interactive AB (publ) during the period from 2 March 2023 up to and including 2 June 2023. Subscription for new shares by way of exercising warrants of series 2020/2023:3 shall be made at a price per share corresponding to 150 per cent of the volume-weighted average trading price of MAG Interactive AB (publ)'s share on Nasdaq First North during the period from 13 January 2020 up to and including 21 January 2020 (whereby the calculated exercise price shall be rounded to the nearest even hundredth of a krona, whereupon 0.005 krona will be rounded up). The subscription price may not be less than the quota value of the shares. The subscription price and the number of shares that each warrant of series 2020/2023:3 entitles may be subject to recalculation in the event of a bonus issue, split, rights issue, etc., wherein the recalculation terms in the complete terms and conditions of the warrants shall be applied. If the warrants of series 2020/2023:3 are exercised in full the share capital will increase by SEK 6,057.480520. Subscription and payment of the warrants shall take place on 23 January 2020. However, the board of directors shall be entitled to extend the subscription and payment period. There can be no over-subscription.
The warrants of series 2020/2023:3 shall be issued at a subscription price corresponding to the market value, calculated in accordance with the Black & Scholes valuation formula by an independent valuation firm appointed by the company, Svalner Skatt & Transaktion, immediately after the expiration of the measurement period on 21 January 2020. An example calculation according to the Black & Scholes formula based on an unchanged share price of SEK 15.7 result in a value of SEK 1.75 per warrant, whereby the following input have been used in the Black & Scholes calculation:
Exercise price: SEK 23.6 (150% of the share price of SEK 15.7)
Risk-free interest: -0.3%
Volatility: 40%
Duration (years): 3
Dividend yield: 0%
Illiquidity discount: 20%
The above calculation is only an example and the warrant value according to the final calculation that will be carried out by Svalner Skatt & Transaktion immediately after the expiration of the measurement period on 21 January 2020 may deviate from the above.
The warrants shall be governed by separate agreements between each participant and the company (or a subsidiary designated by the company). In the agreement, the participant undertakes to only exercise held warrants during the period from 2 March 2023 up to and including 2 April 2023, whereby the board of directors may, in individual cases, extend the exercise period up to and including 2 June 2023 if the participant, due to applicable rules, cannot exercise the warrants during the initial exercise period. In the agreement, the company also reserves the right to, under certain conditions, purchase the warrants from the participant if the participant's employment or assignment within the company terminates or if the participant wishes to transfer the warrants. Such purchase shall be made at the lower of the cost of acquisition of the warrants or the market value of the warrants. With the exception of purchases in connection with dismissal from employment (Sw. avskedande) or termination due to personal reasons (Sw. uppsägning av personliga skäl), the right of the company to purchase the warrants expires on 1 March 2023, or, under certain conditions, at an earlier date in case of a merger where the company is absorbed by another company or in case of a public offer for all shares in the company. The agreements will otherwise contain customary terms wherein some minor differences may occur due to national legal requirements.
The board of directors shall be responsible for the preparation and management of the Warrant Program 2020/2023 within the above mentioned substantial terms.
Dilution effect and costs, etc.
The board of directors' proposal to resolve on issuance of warrants entails a dilution effect corresponding to a maximum of approximately 0.88 per cent of the shares and votes in the company if the proposed warrants are exercised in full. The dilution effect is calculated as the relation between the additional shares that the warrants will be exercised for and the sum of the current number of shares and the additional shares that the warrants will be exercised for. The Warrant Program 2020/2023 is expected to have only marginal effects on the company's key ratios.
The board of directors' assessment is that the Warrant Program 2020/2023 will trigger costs mainly related to administration. The board of directors' assessment is that the Warrant Program 2020/2023 will not trigger any costs related to social security.
The total costs for administration are estimated to amount to approximately SEK 200,000.
Previous incentive programs in MAG Interactive AB (publ)
The company currently has two ongoing warrant programs and one ongoing employee stock option program for key employees and other employees. These previously approved incentive programs are, together with the Warrant Program 2020/2023 and the Employee Stock Option Program 2020/2023 (item 17), expected to entail a dilution of approximately 5.34 per cent of the total number of outstanding shares if all outstanding and proposed warrants are exercised in full. The dilution effect is calculated as the relation between the additional shares that the warrants will be exercised for and the sum of the current number of shares and the additional shares that the warrants will be exercised for. The costs of the incentive programs are expected to amount to approximately SEK one million in total. For a more detailed description of the company's other share related incentive programs, reference is made to the annual report for the financial year 2018/2019.
Preparation of the proposal
The proposal has been prepared by the board of directors together with external advisors.
Resolutions proposed by the Nomination Committee
MAG Interactive AB (publ)'s nomination committee, which consists of the chairman of the nomination committee Kaj Nygren (NMO Invest AB and Playful Days AB), Johan Persson (RSUV AB, Fredrik Stenh and Anders Larsson), Joachim Spetz (Swedbank Robur Fonder) and Henrik Sandell (Didner & Gerge Fonder), who together represent approximately 62 per cent of the voting rights in respect of all shares in the company, and the chairman of the board of directors, Birgitta Stymne Göransson, proposes the following.
Item 1 – Chairman of the annual general meeting
Birgitta Stymne Göransson is proposed as chairman of the annual general meeting 2020.
Item 11A – Number of board members
The nomination committee proposes that the number of board members elected at the annual general meeting shall be six and that no deputy board members shall be appointed.
Item 11B – Number of auditors and alternate auditors
The nomination committee proposes that a registered auditing firm shall be appointed as auditor and that no deputy auditors shall be appointed.
Item 12A – Fees to the board of directors
It is proposed that the following fees shall be paid to the board of directors:
- Chairman of the board of directors: SEK 400,000.
- Other board members not employed by the company: SEK 200,000.
Item 12A – Fees to the auditor
It is proposed that fees are paid to the company's auditors upon approval of their invoices.
Item 13 – Election of chairman of the board of directors and other board members
The nomination committee proposes that the following board members are elected for the period until the end of the next annual general meeting:
Re-election of each of the board members Daniel Hasselberg, Teemu Huuhtanen, Birgitta Stymne Göransson, Andras Vajlok and Taina Malén, and election of Asbjørn Søndergaard as new board member.
It is proposed that Birgitta Stymne Göransson is elected as chairman of the board of directors.
Item 14 – Election of auditors
Based on the audit committee's recommendation it is proposed that PricewaterhouseCoopers AB is elected as auditor for the period until the end of the next annual general meeting. Subject to the approval by the general meeting of the nomination committee's proposal, PricewaterhouseCoopers AB has informed that authorised public accountant Niklas Renström will continue as auditor-in-charge.
Other information
Shares and voting rights
MAG Interactive AB (publ)'s share capital amounts to SEK 683,672.55 divided into 26,321,393 shares. All shares are of the same class and one (1) share entitles the holder to one (1) vote at general meetings.
Majority rules
The resolution proposed by the board of directors in item 16 on the agenda will only be validly adopted if shareholders holding no less than two thirds (2/3) of both the votes cast and the shares represented at the meeting vote in favour of the resolution. A resolution pursuant to item 17 and 18 on the agenda will only be validly adopted if shareholders holding no less than nine tenths (9/10) of both the votes cast and the shares represented at the meeting vote in favour of the resolution.
Further information
Information about all of the individuals proposed as members of MAG Interactive AB (publ)'s board of directors, information about the proposed auditor, the justified statements by the nomination committee regarding the proposed board members, and the nomination committee's complete proposals can be found on the company's website, www.maginteractive.com, and will be sent free of charge to shareholders who request the company to do so.
Complete proposals and related documents regarding items 15, 16, 17 and 18 on the agenda, concerning guidelines for remuneration to the CEO and executive management, authority for the board of directors to issue new shares, and Employee Stock Option Program 2020/2023 as well as Warrant Program 2020/2023, will be made available by the company and on the company's website, www.maginteractive.com, and will be sent free of charge to shareholders who request the company to do so.
Accounting documents and the auditor's report will be made available at the company and on the company's website, www.maginteractive.com, no later than on 18 December 2019, and will be sent free of charge to shareholders who request the company to do so.