TerraNet Holding AB, reg. no. 556707-2128
1. Company name
The name of the company is TerraNet Holding AB. The company is a public company (publ).
2. Registered office
The board of directors shall have its registered office in the municipality of Lund.
3. Object of the company
The company shall, directly or indirectly, carry our research, development, licensing, marketing and sales of software and communication devices and as parent company lead and administrate such operations and manage real property and chattels and to conduct activities related to the aforementioned.
4. Share capital
The share capital shall not be less than SEK 15,200,000 and not more than SEK 60,800,000.
5. Number of shares
The number of shares shall not be less than 15,200,000 and not more than 60,800,000.
6. Share classes
The shares may be issued in two classes, A-shares and B-shares. The number of shares of the respective class may correspond to the full number of shares in the company. A-shares shall entitle to two (2) votes each, and B-shares shall entitle to one (1) vote each.
If the company decides to issue new A-shares and B-shares against cash or set-off of claim, owners of A-shares and B-shares shall have preferential right to subscribe for new shares of the same class of shares in proportion to the number of shares they already hold (primary preferential right). Shares which have not been subscribed for by primary preferential right shall be offered to all shareholders for subscription (secondary preferential right). Unless the shares thus offered are sufficient for the subscription under the secondary preferential right, the shares shall be allocated between the subscribers in proportion to the number of shares they already hold and, to the extent this is not possible, by drawing of lots.
If the company decides to issue only A-shares or only B-shares against cash or set-off of claim, all shareholders shall have a preferential right to subscribe for new shares in proportion to the number of shares they already hold, irrespective of whether they hold A-shares or B-shares.
The above shall not imply any restriction in the possibility to decide on a new share issue against cash or set-off of claim, with derogation from the shareholders’ preferential right.
If the company decides to issue warrants or convertibles against cash or set-off of claim, the shareholders have a preferential right to subscribe for warrants as though the issue concerned those shares which might be subscribed for on account of the option and a preferential right to subscribe for convertibles as though the issue concerned those shares which the convertibles may be exchanged to, respectively.
If the share capital is raised through a bonus issue, new shares shall be issued of each class of shares in proportion to the existing number of shares of the same class. Old shares of a certain class of shares shall entail a right to new shares of the same class of shares in relation to its proportion of the share capital. The above shall not imply any restriction in the possibility to carry out a bonus issue and, after necessary change in the articles of association, issue new shares of a new class.
7. Conversion of A shares
Following 360 days after an initial public offering of the company’s shares at a regulated market or any other trading platform shares of class A may be converted to shares of class B. Owners of shares of class A may, during January, April and October each year (“Conversion periods”), demand that all or a part of the shares of class A be converted into shares of class B. Such request of conversion shall be made in writing and have reached the company’s board of directors no later than the last day of each of the Conversion periods. Whereby the number of shares of class A that should be converted shall be stated.
The board of directors shall at the end of each Conversion period address the issue on conversion. Thereafter, the board of directors shall immediately submit a notification to the Companies Registration Office for the registration of the conversion. The conversion is executed at the time for registration and when it has been noted in the Central Securities Depositary Register.
8. Board of directors
The board of directors shall consist of a minimum of three and a maximum of eight directors, with a maximum of two deputy directors and they are elected yearly at the annual general meeting for the time up until the end of the next annual general meeting.
For the review of the company’s annual report as well as the management pursued by the board of directors and the managing director, the annual general meeting shall elect at least on one auditor and no more than a maximum of two auditors, with our without deputy auditors.
10. Convening of a general meeting
Notice of general meetings shall be made by announcement in the Official Swedish Gazette and by posting the notice on the company’s website. At the time of the notice, an announcement with information that the notice has been issued shall be published in Svenska Dagbladet.
Notice of the annual general meeting and extraordinary general meeting where an amendment of the articles of association will be considered shall be given no earlier than six weeks and no later than four weeks prior to the general meeting. notice of other extraordinary general meetings shall be issued no earlier than six and no later than two weeks before the general meeting.
11. Attendance at general meetings
A shareholder that wishes to participate in a general meeting must be recorded in a printout or other transcript of the share ledger as of five (5) weekdays before the meeting, and notify the company of his/her, and any advisors (no more than two), intention to attend the meeting no later than on the date stated in the notice of the meeting. Such a date may not be a Sunday, other public holiday, Saturday, Midsummer Eve, Christmas Eve or New Year’s Eve and may not occur earlier than the fifth weekday prior to the general meeting
12. Place for holding general meetings
A general meeting is to take place where the board of directors has its registered office or in the municipality of Stockholm
13. Matters of the annual general meeting
The annual general meeting shall be held annually within six months after the end of the financial year. At the annual general meeting, the following matters shall be considered:
14. Financial year
The fiscal year of the company shall be 1 January – 31 December.
15. Central Securities Depository registration
A shareholder or nominee that is registered in the share register and a CSD register on the record date, in accordance with Ch. 4 the Central Securities Depositories and Financial Instruments Accounts Act (SFS 1998:1479), or registered in a CSD account pursuant to Ch. 4 Sec. 18 first § item 6-8 of the aforementioned act, is deemed to have the right to exercise the rights stipulated in Ch. 4 Sec. 39 the Swedish Companies Act (SFS 2005:551).
These articles of association have been adopted at the extra general meeting on 17 February 2017.