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Announcement from LeoVegas 2020 Annual General Meeting

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The 2020 Annual General Meeting of LeoVegas AB was held on 8 May 2020, at which the shareholders approved the following resolutions.

Adoption of the income statement and balance sheet

The AGM resolved to adopt LeoVegas’ income statement and balance sheet as well as the consolidated income statement and consolidated balance sheet

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Distribution of profit and dividend

The AGM resolved, in accordance with the Board of Directors’ proposal, that of the amount available for distribution to the shareholders, totaling EUR 36,317,631, SEK 142,314,158 shall be distributed to the shareholders, corresponding to an amount of SEK 1.40 per share, and that the remainder, EUR 22,758,736 shall be carried forward. In addition, it was resolved, in accordance with the Board of Directors’ proposal, that dividends will be paid out half-yearly in the amount of SEK 0.70 per share, and that the first record date for entitlement to the dividend shall be 12 May 2020, whereby dividends will be paid out via Euroclear Sweden AB on 15 May 2020, and that the second half-yearly dividend record date shall be 12 November 2020, whereby dividends will be paid out via Euroclear Sweden AB on 17 November 2020.

 

DISCHARGE FROM LIABILITY

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The board members and CEO were discharged from liability for the 2019 financial year.

 

ELECTION OF THE BOARD OF DIRECTORS AND AUDITOR, AND DIRECTORS’ AND AUDITORS’ FEES

The AGM resolved that the Board of Directors shall consist of seven directors and no deputy directors. It was resolved that the Company shall have a chartered auditing firm as auditor.

In addition, it was resolved in accordance with the Nomination Committee’s proposal that directors’ fees shall amount to a total of SEK 2,800,000 including fees for committee work (preceding year: SEK 1,900,000) and shall be paid out to the directors and committee members in the following amounts:

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SEK 300,000 for each non-executive director and SEK 600,000 for the Chairman of the Board, provided that he is not an employee of the Company;

SEK 50,000 for each non-executive director serving as a member of the Remuneration Committee, and SEK 100,000 for the Remuneration Committee chair, provided that he or she is not an employee of the Company; and

SEK 50,000 for each member of the Audit Committee and SEK 100,000 for the Audit Committee chair.

In addition, it was resolved that the auditor’s fees shall be paid in accordance with approved invoices.

Anna Frick and Fredrik Rüdén were re-elected as directors on the Board. Hélène Westholm, Mathias Hallberg, Carl Larsson, Per Norman och Torsten Söderberg were elected as a new directors. Per Norman was elected as Chairman of the Board. Robin Ramm-Ericson, Mårten Forste and Tuva Palm declined re-election.

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PricewaterhouseCoopers AB was re-elected as the Company’s auditor. PricewaterhouseCoopers AB has announced that Authorised Public Accountant Aleksander Lyckow will continue as auditor-in-charge.

 

PRINCIPLES FOR APPOINTMENT OF THE NOMINATION COMMITTEE

The AGM resolved to adopt principles for appointment of the Nomination Committee in accordance with the Nomination Committee’s proposal (unchanged principles from the preceding year in all essential respects).

 

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GUIDELINES FOR REMUNERATION OF SENIOR EXECUTIVES

The AGM resolved in accordance with the Board’s proposal to adopt guidelines for remuneration of senior executives.

 

WARRANT BASED INCENTIVE PROGRAM FOR EXECUTIVE MANAGEMENT AND KEY INDIVIDUALS

The AGM resolved, in accordance with the board of directors’ proposal, to issue a maximum of 1,000,000 warrants, with deviation from the shareholders preferential rights, which may result in a maximum increase in the Company’s share capital of approximately EUR 12,000. The warrants shall entitle to subscription of new shares in the Company.

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The warrants shall be subscribed for by the subsidiary Gears of Leo AB, with the right and obligation to, at one or several occasions, transfer the warrants to a maximum of 50 selected members of the management team, senior executives and key employees, at a price that is not less than the fair market value of the warrant according to the Black & Scholes valuation model and otherwise on the same terms as in the issuance.

The subscription price per share shall be determined to 130 percent of the volume weighted average price for the Company’s share on Nasdaq Stockholm during the period of five trading days starting with the day following 12 May 2020.

The warrants may be exercised for subscription of shares during the period from 1 June 2023 up to and including 30 June 2023.

The maximum dilution effect of the incentive program amounts to a maximum of approximately 1.00 percent of the total number of shares and votes in the Company, assuming full subscription, acquisition and exercise of all offered warrants.

 

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AUTHORIZATION FOR THE BOARD OF DIRECTORS TO DECIDE ON REPURCHASE AND TRANSFER OF OWN SHARES

The AGM resolved, in accordance with the Board’s proposal, to authorize the Board of Directors to decide on purchases of the company’s own shares. Share repurchases may be made only on Nasdaq Stockholm or any other regulated market. The authorization may be exercised on one or more occasions before the 2021 Annual General Meeting. The maximum number of own shares that may be repurchased so that the Company’s holding of shares at any given time does not exceed 10 percent of the total number of shares in the Company. Repurchases of the Company’s own shares on Nasdaq Stockholm may only be made at a price within the range of the highest purchase price and lowest selling price at any given time. Payment for the shares shall be made in cash.

The AGM also resolved, in accordance with the Board’s proposal, to authorize the Board of Directors to to decide on transfers of own shares, with or without deviation from the shareholders’ preferential rights. Transfers may be made on (i) Nasdaq Stockholm or (ii) outside of Nasdaq Stockholm in connection with acquisitions of companies, operations or assets. The authorization may be exercised on one or more occasions before the 2021 Annual General Meeting. The maximum number of shares that may be transferred corresponds to the number of shares held by the Company at the point in time of the Board of Directors’ decision on the transfer. Transfers of shares on Nasdaq Stockholm may only be made at a price within the range of the highest purchase price and lowest selling price at any given time. For transfers outside of Nasdaq Stockholm, the price shall be set so that the transfer is made at market terms. Payment for transferred shares may be made in cash, through in-kind payment, or through set-off against claims with the Company.

The purpose of the authorizations is to give the Board of Directors greater scope to act and the opportunity to adapt and improve the Company’s capital structure and thereby create further shareholder value and take advantage of any attractive acquisition opportunities.

 

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AUTHORIZATION FOR THE BOARD OF DIRECTORS TO DECIDE ON NEW ISSUE OF SHARES

The AGM resolved, in accordance with the Board’s proposal, to authorize the Board of Directors, on one or more occasions, during the time up until the next Annual General Meeting, to decide to increase the Company’s share capital through a new issue of shares to such extent that it corresponds to a dilution of a maximum of 10% of the number of shares outstanding at the time of the Annual General Meeting calculated after full exercise of the issue authorization now proposed. A new issue of shares may be carried out with or without deviation from the shareholders’ preferential rights. Shares issued with deviation from the shareholders’ preferential rights shall be issued at market terms. The Board of Directors shall have the right to decide on other terms for the issue. Payment may be made against cash payment, in-kind payment for through set-off against claims with the Company.

The purpose of the authorization is to give the Board of Directors greater scope to act and the opportunity to adapt and improve the Company’s capital structure and thereby create further shareholder value and take advantage of any attractive acquisition opportunities.

For detailed terms regarding the above-described resolutions at the AGM, please refer to the complete proposals, which are available on the Company’s website: www.leovegasgroup.com.

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PG Soft launches infectious Zombie Outbreak title

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PG Soft, a world-class digital mobile games company, has released its highly infectious video slot, Zombie Outbreak.

The game unfolds within an apocalyptic world where the undead rise on the 5 reels, featuring a layout with 4 rows on reels 1, 3, and 5, and 5 rows on reels 2 and 4.

One of the many electrifying features of Zombie Outbreak is the Expanding Wild symbol, which replaces all symbols aside from the Scatter symbol. These Wild symbols appear exclusively on reels 2 and 4,  mutating into Expanding Wild symbols with three multipliers within each symbol.

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The Expanding Wild symbol remains on the reels until the end of the spin or until all three multipliers have been collected.

Players seek out the Free Spins Feature, which is triggered with three hazardous Scatter symbols appearing on screen. Once entering Free Spins, any collected multipliers stay active until the feature’s conclusion. Players have the chance to retrigger free spins. For those hungry to enhance chances of a win, the Feature Buy button offers a direct route into the Free Spins feature.

PG Soft’s spokesperson commented: “The news of Zombie Outbreak’s release will spread fast and we expect a feeding frenzy from players thanks to its stunning gameplay. It is designed to provide an exhilarating experience with its clever features and opportunities for big wins.”

The post PG Soft launches infectious Zombie Outbreak title appeared first on European Gaming Industry News.

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Everygame Poker Adds Betsoft’s ‘Caishen God of Fortune’ Slot to Casino Collection

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Everygame Poker has just launched a brand-new Chinese slot game from Betsoft in its casino games section. The new Caishen God of Fortune has a Hold & Win bonus feature, Extra Win symbols that increase the values of other symbols, and Stacked Mystery Symbols.

In the new Caishen God of Fortune, Caishen himself grants his generous blessing of good fortune to all who approach. With the popular Hold & Win feature, wins will be plentiful as players navigate the world of the gods.

Six or more Bonus symbols trigger the Hold & Win feature. Three free re-spins begin during which all Bonus symbols stick. If a Collect symbol appears, it collects the values of all visible Bonus symbols. Collecting 15 Bonus symbols wins a Grand Prize.

When Caishen grants an Extra Win symbol during Hold & Win spins, it increases the value of chosen Bonus symbols and transforms itself into a Bonus symbol as well.

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Each reel can contain Stacked Mystery symbols that are replaced with one random symbol, filling all Mystery symbols with matching symbols.

Known primarily for its busy poker tables on the Horizon Poker Network, Everygame Poker also has a large and growing casino games section featuring slots and table games from Betsoft, Nucleus Gaming, Worldmatch and Tangente. Players can also use their Everygame Poker account to play at Everygame Casino and Everygame Sportsbook.

The post Everygame Poker Adds Betsoft’s ‘Caishen God of Fortune’ Slot to Casino Collection appeared first on European Gaming Industry News.

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NODWIN Gaming appoints former TEC Co-Founder Ishaan Arya as Vice President of Sales & Partnerships

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NODWIN Gaming, the leading South Asian gaming and Esports company, has appointed Esports veteran Ishaan Arya, as Vice President of Sales and Partnerships to bolster its leadership team.

With over a decade of experience, the former co-founder of The Esports Club has played a pivotal role in spearheading some of the country’s largest gaming and Esports events, including The Arena, India’s premier consumer gaming event. His guidance not only propelled The Esports Club to unprecedented heights but also facilitated its expansion beyond India into the markets of the Middle East and Southeast Asia.

In his new role at NODWIN Gaming, Ishaan will focus on enhancing the value of the company’s existing IPs, such as BGMS, DreamHack India, NODWIN India Premiership, Valorant Challengers South Asia, and Comic Con India, ensuring their sustained growth and global audience engagement. He will be working on new brand partnerships, initiatives and innovating IPs as NODWIN Gaming pushes the boundaries in the gaming, esports, and lifestyle segments.

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Sharing his thoughts, Ishaan Arya, Vice-President of Sales and Partnerships at NODWIN Gaming, stated, “I am excited to join NODWIN Gaming to contribute to their massive roster of global gaming, esports, and lifestyle events. As one of the top new-age sports media organizations in the world, NODWIN Gaming’s visionary approach and global roadmap have always been top-notch. Alongside a fantastic team, I am eager to utilize my expertise in large-scale gaming events and publisher partnerships to elevate the company to new heights.”

“At NODWIN, we pride ourselves in encouraging our leaders to take ownership in various aspects of the business. As a founder himself, Ishaan not only brings a wealth of knowledge and experience but will also drive innovation and growth across key verticals of our gaming and entertainment segments,” said Akshat Rathee, Co-Founder and Managing Director of NODWIN Gaming.

Since its inception, NODWIN Gaming has cemented its position as a frontrunner in the global gaming and Esports industry. The company has been making significant strides in venturing beyond Esports, recently acquiring Comic Con India, alongside obtaining a 51% stake in the Singapore-based media company Branded.

With experience working with Comic Con India as well as industry giants like NVIDIA, Intel, LG, Lenovo, Dell, JBL & Amazon, in the past, Ishaan will be a key addition to NODWIN Gaming as they drive innovation and progress in the gaming and Esports sector.

The post NODWIN Gaming appoints former TEC Co-Founder Ishaan Arya as Vice President of Sales & Partnerships appeared first on European Gaming Industry News.

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