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Bulletin from the AGM of Troax Group AB (publ)

Hillerstorp April 22nd, 2024 16:30 CET

The AGM of Troax Group AB (publ) was held on April 22nd, 2024 in Hillerstorp.

Adoption of the Income Statements and Balance Sheets, dividend and discharge of liability

The Income Statements and Balance Sheets were adopted, together with the Board of Directors` proposal for dealing with the Company ́s profit. The dividend was set at 0,34 Euro per share with April 24th as the record day. The estimated date for payment is May 2nd. The Board of Directors and the President were discharged from liability for the financial year 2023. .

Board of Directors and remuneration to the Directors, Auditors and fees to the auditors

In accordance with the Nomination Committee´s proposal, the AGM decided that Board of Directors shall comprise of seven elected Board members. The AGM decided of re-election of Anders Mörck, Anna Stålenbring, Thomas Widstrand, Eva Nygren, Fredrik Hansson and Bertil Persson and the new-election of Marie Landfors. Anders Mörck was appointed Chairman of the Board.

In accordance with the Nomination Committee ́s proposal, the AGM approved the proposal regarding remuneration to the Board, excluding committee work, of SEK 2,740,000 (1,880,000) in total, whereof SEK 820,000 (720,000) to the Chairman of the Board, and SEK 320,000 (290,000) to each of the Directors elected by the AGM and not employed by the Company. For work in audit committee the chairman will receive SEK 150,000 (112,000) and to other members SEK 100,000 (86,000). For work in the remuneration committee the chairman will receive SEK 60,000 (54,000) and other members of the committee will receive SEK 30,000 (27,000) each.

The AGM approved the proposal to elect Öhrlings PriceWaterhouseCoopers AB as auditor for the period up until the end of the AGM 2025. Authorised public accountant Johan Palmgren will be the registered auditor-in-charge. The auditor ́s fee shall be paid in accordance with the approved invoice.

Repurchase of own shares

The Annual General Meeting resolved to authorize the Board to decide on the repurchase of own shares, up until the next Annual General Meeting, on one or more occasions. The repurchase may be made by so many shares that the company owns no more than ten (10) percent of all shares in the company. The repurchase shall be intended to fulfill commitments under the decided call option program.

The Annual General Meeting also resolved to authorize the Board to decide on the reselling of shares held by the Company at the time of the Board’s transfer decision, up until the next Annual General Meeting held in 2025, on one or more occasions. Transfer of own shares may be used to cover the company's commitments according to the decided call option program.

Adoption of the remuneration report

The Annual General Meeting approved the remuneration report for the CEO.

Option program to senior executives

The AGM resolved on an option program directed to senior executives, in which the Board of Directors may, up to the next AGM, issue options of up to 300,000 shares, corresponding to a maximum of 0,5 percent of the total number of shares and 0,5 percent of the total number of votes. Until the next Annual General Meeting, senior executives will be offered the option of acquiring call options of a maximum of 300,000 shares of which the CEO will be offered to acquire 20,000 call options. The terms of the options shall be based on market terms according to accepted models at each individual date of issue. The option premium shall amount to 10 percent of the share price at the date of issue. The maturity of the options shall be a maximum of 3,9 years from its release and maturity period from 20 May 2028 to 30 June 2028. The redemption price shall be determined by an independent valuer at each respective time in accordance with accepted valuation models.

The AGM decided that, with the exception of shareholders' preferential rights, to the option holders transfer up to 300,000 shares to the price determined regarding the possible exercise of the options. The proposal is part of creating a long-term incentive for key employees. The proposal is considered to be reasonable for employees and Troax shareholder collectives. There are two earlier outstanding option programs. The Board intends to return at the forthcoming AGMs with similar proposals. Since the program is offered on market terms and entails a financial risk to the executive, no social security costs are incurred.

For additional information, please contact:

Thomas Widstrand
President and CEO
Troax Group AB
Box 89
335 04 Hillerstorp
Tel +46 (0)370-828 31