Annual General Meeting in Maha Energy AB (publ)
May 24 2023 - 9:00AM
Annual General Meeting in Maha Energy AB (publ)
The shareholders of Maha
Energy AB (publ) gathered
in Stockholm, Sweden, Wednesday
24 May 2023 for the Annual General
Meeting.
The income statements and the balance sheets for
the Company and the Group were approved and the Board of Directors
and the CEO were discharged from liability for the financial year
2022.
The Meeting resolved that no dividend shall be
paid for the financial year 2022 and that the company’s available
funds shall be carried forward in new account.
Fabio Vassel, Paulo Thiago Mendonça, Enrique
Peña, Viktor Modigh, Richard Norris, Halvard Idland and Kjetil
Solbraekke were re-elected as members of the Board of Directors.
Fabio Vassel was re-elected as Chairman of the Board.
The Meeting approved fees payable to the members
of the Board of Directors and the Chairman of the Board of
Directors, including remuneration for committee work, to be as
follows: (i) annual fees of the members of the Board of Directors
of SEK 300,000 (excluding the CEO); (ii) annual fee of the Chairman
of the Board of Directors of SEK 415,000; (iii) annual fees of SEK
40,000 to members of the respective committees (excluding the CEO);
(iv) annual fees of SEK 60,000 to the Chairman of the respective
committees; (v) members of the Board of Directors shall be entitled
to invoice the Company in so far as they perform services outside
the Board assignment.
The accounting firm Deloitte AB was re-elected
as the auditor of the Company, with authorised public accountant
Andreas Frountzos as the auditor in charge, for a period until the
end of the 2024 Annual General Meeting. The auditor’s fee shall be
paid upon approval of their invoice.
The Meeting resolved to approve the Company’s
remuneration report for the financial year 2022.
The Meeting resolved in accordance with the
proposal of the Board of Directors on changes to the policy for
remuneration and other employment conditions for senior executives
of the group, which shall apply for the time being. The policy is
applicable on agreements entered into after the Annual General
Meeting, and as far as changes are made to existing agreements,
thereafter, and shall be reviewed at least every four years.
Following shareholders ahead of the annual
general meeting submitting questions to the Board of Directors
regarding the Board’s proposal on an incentive programme for
employees and consultants through issuance of warrants, the Board
of Directors decided to withdraw the proposal with the intention of
providing more detailed information if the Board should decide to
propose a corresponding incentive programme at a future general
meeting.
The Nomination Committee has made a
corresponding assessment as the Board of Directors with regards to
the incentive programme for the members of the Board of Directors
through issuance of warrants, and decided to withdraw the
proposal.
The Meeting resolved to authorise the Board of
Directors to – for the period up to 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, through set-off of claims or otherwise be
conditional. The Company’s share capital may be by support of the
authorisation be increased by an amount corresponding to 20 percent
of the share capital and number of shares in the Company as of on
the date the Board of Directors make use of the authorisation.
Deviation from the shareholders’ preferential rights shall be
allowed in situations where a directed issue is deemed more
appropriate for the Company due to timing, commercial or similar
reasons, and in order to enable acquisitions.
For more information, please
contact: Paulo Thiago Mendonça, CEOPhone: +46 8 611 05
11E-mail: info@mahaenergy.ca
Guilherme Guidolin de Campos, CFOPhone: +46 8
611 05 11E-mail: info@mahaenergy.ca
MiscellaneousThe information
was submitted for publication, through the agency of the contact
person set out above, 16:00 CEST on 24 May 2023.
About MahaMaha
Energy AB (publ) is a listed, international upstream oil and gas
company whose business activities include exploration, development
and production of crude oil and natural gas. The strategy is to
target and develop underperforming hydrocarbon assets on global
basis. Maha operates the Mafraq field in Block 70 in the Sultanate
of Oman and assets in the United States. The shares are listed on
Nasdaq Stockholm (MAHA-A). The head office is in Stockholm, Sweden
with a technical office in Calgary, Canada, as well as operations
offices in Grayville, Illinois, USA, Rio De Janeiro, Brazil and
Muscat, Oman. For more information, please visit our website
www.mahaenergy.ca.
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