Communique from the Extraordinary General Meeting at Scandinavian Enviro Systems AB (publ) held on February 27, 2020

2020-02-27

The business transacted at the Extraordinary General Meeting of Scandinavian Enviro Systems AB (publ) on February 27, 2020 included the following adoption of the resolutions. The full proposal of the board of directors has been published and made available at the Company’s website www.envirosystems.se.
N.B. The English text is an in-house translation of the original Swedish text. Should there be any disparities between the Swedish and the English text, the Swedish text shall prevail.

The Extraordinary General Meeting, via majority, decided in accordance with the proposal of the nomination committee, to adopt the renumeration of the board as of July 1, 2019 and until next coming General Meeting. Further it was decided unanimously in accordance with the proposal of the nomination committee regarding the principles for other renumerations to the board.

The Extraordinary General Meeting was held at Hotel Kusten in Gothenburg and approx. 15 percent of the number of votes were represented in person and by proxy.

The background to the proposal regarding changes in the renumeration of the board and changes in the principles for other renumerations to the board is the increased need of the company to utilize the competences of the members of the board to the extent that exceeds a normal board assignment. The company is currently operating in an intensive development stage, which demands significant analyses of different strategic alternatives in conjunction with conducting many and complicated negotiations with different parties. This is especially applicable to the chairman of the board, but also to other board members, who have, from time to time, been deeply involved both in strategic assignments as well as various negotiations. The assessment of the company is that this requested level of focus will have to remain at least until the next coming General Meeting.

As a part of the Extraordinary General Meeting chairman Alf Blomqvist described the development in the capital market, where the interest of investments in clean-tech and sustainability has increased significantly, amongst others, due to the climate crises. Blomqvist also described the strategic prioritisations and engagements of Enviro currently is focusing on for the company to, in the best possible way, utilize the possibilities, which the increased interest for clean-tech and Enviro’s technology is leading to.

For complete details about the decisions that were made at the Extraordinary General Meeting, including the presentations, please refer to www.envirosystems.se where the documentation related to the Extraordinary General Meeting can be downloaded.

For more information, please contact          
Thomas Sörensson, CEO, Tel: +46 (0)735-10 53 43, thomas.sorensson@envirosystems.se
Urban Folcker, CFO, Tel: +46 (0) 760 00 13 11, urban.folcker@envirosystems.se
Alf Blomqvist, Chairman of the Board, +46 (0) 733 149 700, alf@blomqvistunlimited.com

Mangold Fondkommission AB, +46 8 503 01 550, E-mail ca@mangold.se, is the Certified Adviser of Enviro at Nasdaq First North Growth Market Stockholm.

Scandinavian Enviro Systems AB
Herkulesgatan 1k
SE-417 01 Gothenburg
info@envirosystems.se
www.envirosystems.se

Enviro is a company developing, building and operating industrial plants for material recovery from End of Life Tyres (ELT). The company has developed a process, based on a patented technology, where gas generated in the process is heating the tyres in absence of oxygen. This enables the materials in the tyres to decompose and be recovered instead of incinerated. Thus, a sustainable recovery of the resources Carbon black, Oil, Steel and Gas is obtained. The products are used in new products, replacing fossil resources to help the customers reach their sustainability targets. Enviro was founded in 2001, has its head office in Gothenburg and runs its own plant for ELT tyres in Åsensbruk, Sweden. The company is listed on the First North Growth Market with Mangold Fondkommission AB, tel. +46 (0)8 5030 1550, ca@mangold.se, as its Certified Advisor. www.envirosystems.se


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