The shareholders in ÅAC Microtec AB (publ), reg. no. 556677-0599, are hereby given notice to attend the annual general meeting at 13:00 p.m. on Thursday 23 May 2019 at Hotel Villa Anna, Odinslund 3, 753 10 Uppsala, Sweden. Registration for the meeting commences at 12:30 p.m.
Shareholders wishing to participate at the meeting must:
(i) be entered in the shareholders' register, kept by Euroclear Sweden AB (the Swedish Central Securities Depository & Clearing Organisation), on the record day which is Friday 17 April 2019; and
(ii) notify the company of their attendance and any assistant no later than Friday 17 May 2019. Notification can be made via letter to ÅAC Microtec AB, Attn: Ann-Christin Lejman, Uppsala Science Park, SE-751 83 Uppsala, Sweden or by e-mail to firstname.lastname@example.org.
Notification shall include full name, personal identification number or corporate registration number, address and daytime telephone number and, where appropriate, information about representative, proxy and assistants. The number of assistants may not be more than two. In order to facilitate entry to the meeting, notification should, where appropriate, be accompanied by powers of attorney, registration certificates and other documents of authority.
Nominee registered shares
Shareholders who have their shares registered in the name of a nominee must request temporary entry in the transcription of the share register kept by Euroclear Sweden AB in order to be entitled to participate and vote for their shares at the meeting. The shareholder must inform the nominee well in advance of Friday 17 May 2019, at which time the register entry must have been made.
A shareholder represented by proxy shall issue a power of attorney which shall be dated and signed by the shareholder. If issued by a legal entity, the power of attorney shall be accompanied by registration certificate or, if not applicable, equivalent documents of authority. Power of attorney forms for those shareholders wishing to participate by proxy are available on the company's website www.aacmicrotec.com. The original version of the power of attorney shall also be presented at the meeting.
0. Opening of the meeting
1. Election of chairman of the meeting;
2. Preparation and approval of the voting list;
3. Approval of the agenda; 4. Election of one (1) or two (2) persons who shall approve the minutes of the meeting;
5. Determination of whether the meeting has been duly convened;
6. Submission of the annual report and the auditor's report as well as of the consolidated financial statements and the auditor's report on the group;
7. Resolution in respect of adoption of the profit and loss statement and the balance sheet as well as of the consolidated profit and loss statement and the consolidated balance sheet;
8. Resolution in respect of allocation of the company's loss according to the adopted balance sheet; 9. Resolution in respect of the members of the board of directors' and the CEO's discharge from liability;
10. Determination of the number of members of the board of directors as well as of the number of auditors;
11. Determination of the fees payable to the members of the board of directors and the auditors;
12. Election of members of the board of directors and auditors;
13. Resolution on guidelines for remuneration to the senior management;
14. Resolution on principles for the appointment of and instructions for a nomination committee;
15. Resolution on an authorization for the board of directors to increase the share capital; and
16. Closing of the meeting.
The nomination committee's proposed resolutions
The nomination committee is composed of the chairman of the board of directors of the company (i.e. Rolf Hallencreutz), Christer Jönsson (appointed by Fouriertransform AB), Craig Clark (appointed by himself), John Wardlaw (appointed by Coralinn LLP) and Jan Petersen (appointed by himself).
Following changes of the shareholding of the company, the nomination committee's composition has been subject to late changes, whereby Rikard Östberg (appointed by RP Ventures AB) were replaced by Jan Petersen. By reason thereof, the nomination committee's proposed resolutions in relation to items 1, 10-12 and 14 in the proposed agenda will be published through a separate press release, well in advance of the annual general meeting.
The board of directors' proposed resolutions
The board of directors of the company has presented the following proposed resolutions in relation to items 8, 13 and 15 in the proposed agenda.
Item 8. Allocation of the company's profit or loss
The board of directors proposes that the company's loss shall be carried forward in new account. Thus, no dividend is proposed for the financial year 2018.
Item 13. Resolution on guidelines for remuneration to the senior management
The board of directors proposes that the general meeting resolves on adoption of guidelines for remuneration and other employment conditions for the senior management the contents of which are substantially set forth below.
The main principle is that remuneration and other employment conditions for members of the senior management shall be based on market terms and competitive in order to ensure that the group can attract and retain competent members of the senior management at a reasonable cost for the company. The total remuneration for the senior management shall consist of fixed salary, variable remuneration, pension and other benefits. Variable remuneration shall be paid in cash and based on the result in relation to performance goals within the respective area of responsibility and be in line with the shareholders' interests. Variable remuneration shall correspond to a maximum of 50 % of the fixed annual salary for the CEO and a maximum of 50 % of the fixed annual salary for other members of the group's senior management. Variable remuneration shall not entitle to pension, unless otherwise agreed upon. Other benefits such as a company car, additional health insurance and medical benefits shall be limited in value in relation to other remuneration and shall be paid only in so far as it is considered to be in accordance with the market for other members of senior managements holding corresponding positions on the employment market where the member in question is operating. The notice period upon notice given by the company shall be no longer than 12 months for all members of the senior management, with a right to redundancy payment after the expiration of the notice period corresponding to not more than 100 % of the fixed salary for a maximum of 12 months, meaning that the fixed salary and redundancy payment shall together not exceed 24 months' fixed salary. Any right to redundancy payment shall, as a main rule, decrease in situations where remuneration is received from another employer. Upon notice given by a member of the senior management, the notice period shall generally be 6 months for the CEO and 3-6 months for other members of the senior management. The board of directors shall be entitled to deviate from the guidelines in individual cases if there are special reasons for doing so.
The board of directors' complete proposal will be kept available as set forth under "Documentation" below.
Item 15. Resolution on an authorisation for the board of directors to increase the share capital
The board of directors proposes that the general meeting resolves on an authorisation for the board of directors to, during the period until the next annual general meeting and at one or more occasions, resolve upon issuance of new shares, warrants and/or convertible debentures. Payment may be made in cash, in kind, trough set-off of claims or otherwise be conditional. The company's total number of share capital may by support of the authorisation be increased by an amount of not more than 20 % of the share capital and number of shares/votes in the company following the proposed preferential rights issue resolved on an extra general meeting 8 May 2019. The purpose behind the authorization and the reason for any deviation from the shareholders' preferential right is that issues should be able to take place in a time-efficient manner to finance company acquisitions or investments in new or existing businesses. Issuances of new shares, or issuances of warrants or convertibles pursuant to the authorization shall, when deviating from the shareholders' preferential rights, take place at a subscription price corresponding to the fair market value, as per the prevailing market conditions at the time when the shares, warrants and/or convertibles in question are issued.
A resolution in accordance with item 15 requires support by shareholders holding not less than two-thirds of both the shares voted and of the shares represented at the general meeting.
Number of shares and votes in the company
The total number of shares in the company at the time of issuance of this notice is 68,719,829. The company does not hold any of its own shares.
Shareholders' right to request information
Pursuant to Chapter 7 section 32 of the Swedish Companies Act (Sw. aktiebolagslagen (2005:551)) the board of directors and the managing director are under a duty to, if any shareholder so requests and the board of directors deems that it can be made without material damage to the company, provide information, regarding circumstances which may affect the assessment of a matter on the agenda or of the company's economic situation. Such duty to provide information also comprises the company's relation to the other group companies, the consolidated financial statements and such circumstances regarding subsidiaries which are set out in the foregoing sentence.
The financial accounts, auditor's report, complete proposals and other documents to be dealt with at the general meeting will be kept available at the company's office not later than three weeks before the meeting. The documents will be sent free of charge to shareholders who so request and state their postal address. The documents will also be made available not later than the aforementioned date on the company's website www.aacmicrotec.com. All the above mentioned documents will also be presented at the general meeting.
Uppsala, April 2019
Offical version of notice to attend the annual general meeting
The official version of the notice to attend the annual general meeting is in the Swedish language and available for download at www.aacmicrotec.com.
2019-04-18 ÅAC Microtec AB
The board of directors
FOR MORE INFORMATION:
ABOUT ÅAC MICROTEC AB
ÅAC Microtec and its subsidiary Clyde Space offer a full turnkey mission service from design to on-orbit operations including reliable platforms in the range of 1 to 50 Kg; customizable to suit our customers' requirements. Our end-to-end service package enables our customers to reach their mission goals with a single, trusted point of contact. In addition, we supply a full range of subsystems for cube satellites and small satellites.
ÅAC Microtec's shares are traded on Nasdaq First North Premier Stockholm. G&W Fondkommission, e-mail email@example.com, phone +46 8 503 000 50, is the Certified Adviser.
ÅAC Mictrotec medverkar i den första skotsk-irländska förbindelsen i rymden genom att Clyde Space, Skottlands största rymdbolag och dotterbolag till ÅAC Microtec AB, ingår avtal med University College Dublin. Avtalet, som har ett mindre värde, innebär att Clyde Space tillhandahåller delsystemen till plattformen för Irlands första satellit, EIRSAT-1, som är en 2Us kubsatellit. EIRSAT-1 är ett samarbetsprojekt som utvecklats av studenter och anställda på universitetet och kommer att innehålla ny irländsk teknik. EIRSAT-1 är planerad att skjutas upp 2020.
We are delighted to announce the first Celtic connection in space as Clyde Space, Scotland's largest space company and subsidiary of ÅAC Microtec AB, signs a contract with University College Dublin (UCD). The contract is of minor value but will see Clyde Space supply CubeSat platform equipment for Ireland's first satellite, EIRSAT-1, which is a 2U CubeSat. EIRSAT-1 is a collaborative project developed by students and staff of UCD and will incorporate novel Irish technology. EIRSAT-1 is planned to launch in 2020.
Det prospekt som ÅAC Microtec AB (publ) ("ÅAC" eller "Bolaget") har upprättat med anledning av den förestående nyemissionen av aktier med företrädesrätt för ÅAC:s aktieägare om cirka 82,5 MSEK ("Företrädesemissionen") har idag godkänts och registrerats av Finansinspektionen. Med anledning av Företrädesemissionen bjuder ÅAC in till investerarträffar torsdagen den 23 maj och tisdagen den 28 maj 2019.
The prospectus that ÅAC Microtec AB (publ) ("ÅAC" or "the Company") has prepared in connection with the new share issue of approximately SEK 82.5 million with preferential rights for ÅAC's shareholders (the "Rights Issue") has today been approved and registered by the Swedish Financial Supervisory Authority ("Finansinspektionen"). On account of the Rights Issue, ÅAC invites to investor meetings on Thursday, May 23, and Tuesday, May 28, 2019.
ÅAC Microtec AB har valts att leverera ombordteknik som möjliggör multipla nyttolaster på mikrosatelliter utvecklade av amerikanska Loft Orbital Solutions Inc. Ordern som har ett värde om ca 4,7 MSEK (490 kUSD), planeras att levereras under andra halvåret 2019.
ÅAC Microtec AB has been selected to supply electronics for an onboard technology to enable Payload Rideshares on micro satellites developed by Loft Orbital Solutions Inc. The order with a value of approx. 4.7 MSEK (490 kUSD) is planned to be delivered in the second half of 2019.
ÅAC Microtec ABs amerikanska partner York Space Systems rapporteras framgångsrikt ha tagit sin första satellit, en S-CLASS satellit, i drift efter uppskjutningen till omloppsbana den 5 maj. ÅACs Sirius-produkter, inkluderande omborddator och massminne, samt kraftsystem fungerar planenligt.
ÅAC Microtec AB's partner U.S. York Space Systens is successfully operating its first satellite in orbit, the S-CLASS satellite after its launch on 5 May 2019. ÅAC's Sirius range, including onboard computer and mass memory, and power system are working according to plan.
GENOMBROTT FÖR SPACE-AS-A-SERVICE
Första kvartalet, januari - mars 2019 (jämfört med januari - mars 2018)
- Nettoomsättningen uppgick till 14,9 (16,4) MSEK
- Rörelseresultatet före avskrivningar, EBITDA, uppgick till -6,5 (-12,2) MSEK. Föregående periods resultat inkluderar förvärvskostnader om 8,8 MSEK.
- Rörelseresultatet efter avskrivningar uppgick till -9,9 (-15,6) MSEK.
- Resultat efter skatt uppgår till -10,1 (-15,0) MSEK.
- Resultat per aktie före och efter utspädning uppgick till -0,15 (-0,27) SEK
BREAKTHROUGH FOR SPACE-AS-A-SERVICE
First quarter, January - March 2019 (compared to January - March 2018)
- Net sales amounted to 14.9 (16.4) MSEK
- Operating profit before depreciation, EBITDA, amounted to -6.5 (-12.2) MSEK. Earnings for the previous period include acquisition costs of 8.8 MSEK
- Operating profit after depreciation amounted to -9.9 (-15.6) MSEK.
- Profit after tax amounts to -10.1 (-15.0) MSEK
- Earnings per share before and after dilution amounted to -0.15 (-0.27) SEK
Brent Abbot lämnar posten som CEO AAC Microtec North America Inc., ett dotterbolag till ÅAC Microtec. CSO Craig Clark utses till tf CEO.
ÅAC Microtec AB Brent Abbot steps down as CEO AAC Microtec North America Inc., a subsidiary of ÅAC Microtec. CSO Craig Clark will be acting CEO until a replacement is appointed.
ÅAC Microtecs valberedning har beslutat att föreslå Anita Bernie som ledamot i styrelsen. Anita Bernie är välrenommerad inom rymdindustrin efter att ha inlett sin karriär som Spacecraft Design Engineer på Airbus Stevenage, därefter börjat på småsatellittillverkaren SSTL där hon avancerade till att bli medlem av koncernledningen. Sedan 2018 har Anita Bernie arbetat på KISPE Space Systems Limited med ansvar för strategi och genomförande.
ÅAC Microtec AB's nomination committee has decided to propose Anita Bernie to the Board of Directors. Anita Bernie is well reputed in the space industry, having started her career at Airbus Stevenage as a Spacecraft Design Engineer, later joining the small satellite manufacturer SSTL, where she progressed to a position on the Senior Executive Team and since 2018 has been at KISPE Space Systems Limited where she leads strategy and execution.