Report from the Extraordinary General Meeting of CLX Communications AB (publ) held on December 5, 2016
The following decision was passed at the Extraordinary General Meeting (the "EGM") in CLX Communications AB (publ), XSTO:CLX, on 5 December 2016. The notice to attend the EGM and the board of directors' comprehensive proposal has been published and is available at the company's website.
Resolution regarding incentive program 2016 and issue of warrants and employee stock options
The EGM decided in accordance with the board of directors' amended proposal regarding the implementation of a long term incentive program for senior executives and other key employees within the CLX group ("LTI 2016"). The decision was unanimous. The amendment entail that the participants from the U.S. and UK are only entitled to exercise the underlying stock option if the company's earnings per share during a measurement period of three years, calculated during the last three years of the duration period for each series of employee stock options, have amounted to at least ten per cent per year in average.
LTI 2016 comprises six (6) series. Series 1-3 consists of warrants to be transferred to employees. The warrants of Series 1 have a vesting period of three (3) years, the warrants of Series 2 have a vesting period of (4) years and the warrants of Series 3 have a vesting period of five (5) years after which the holders is entitled to exercise the warrants to subscribe for shares during a period of three (3) months after each series vesting period.
Series 4-6 comprises of employee stock options with warrants as hedging arrangement. The resolution also included a resolution to issue not more than 1,500,000 warrants, of which not more than 960,000 warrants may be issued in Series 1-3 and not more than 540,000 warrants may be issued in Series 4-6.
For more detailed information on the content of the resolution, please see the press release published on 3 November 2016 at the company' website.
For more information, please contact
Chief Investor Relations Officer
CLX Communications (publ)
Telephone +46-768 966 300
About CLX Communications
CLX Communications (CLX) is a leading global provider of cloud-based services and solutions to enterprises and mobile operators. CLX mobile communication services will enable companies to quickly, securely and cost-effectively communicate globally with customers and connected devices - IoT (Internet of Things). CLX solutions enable critical business communications worldwide via mobile messaging (SMS), voice services and mobile connectivity services for the IoT. CLX has since the company was founded grown profitably. The Group is headquartered in Stockholm, Sweden, and is present in 20 other countries.
CLX Communications shares are traded at Nasdaq Stockholm: XSTO:CLX
To learn more please visit: www.clxcommunications.com
This information is information that CLX Communications AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Nasdaq Stockholm's Rulebook. The information was submitted for publication, through the agency of the contact person set out above, at 15:38 CET on 5 December 2016