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Announcement from LeoVegas 2021 Annual General Meeting

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The 2021 Annual General Meeting (AGM) of LeoVegas AB (publ) (“LeoVegas” or the “Company”) was held today, 11 May 2021, at which the shareholders approved the following resolutions. Due to the ongoing corona pandemic, the AGM was carried out through postal voting only, without physical presence.

CEO presentation
CEO, Gustaf Hagman, sums up 2020 and the start of 2021. The presentation can be seen via this link.

Adoption of the income statement and balance sheet
The AGM resolved to adopt LeoVegas’ income statement and balance sheet as well as the consolidated income statement and consolidated balance sheet

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Distribution of profit
The AGM resolved, in accordance with the Board of Directors’ proposal, that of the amount available for distribution to the shareholders, totaling EUR 34,973,570, SEK 160,290,602 shall be distributed to the shareholders, corresponding to an amount of SEK 1.60 per share, and that the remainder, EUR 19,029,968 shall be carried forward. In addition, it was resolved, in accordance with the Board of Directors’ proposal, that dividends will be paid four times in the amount of SEK 0.40 per share.

Dividend no. Last trading day with dividend entitlement Record date Distribution date Amount (SEK)
1 11 May 2021 14 May 2021 19 May 2021 0.4
2 5 July 2021 7 July 2021 12 July 2021 0.4
3 5 October 2021 7 October 2021 12 October 2021 0.4
4 4 January 2022 7 January 2022 12 January 2022 0.4

DISCHARGE FROM LIABILITY
The board members and CEO were discharged from liability for the 2020 financial year.

ELECTION OF THE BOARD OF DIRECTORS AND AUDITOR, AND DIRECTORS’ AND AUDITORS’ FEES
The AGM resolved that the Board of Directors shall consist of seven directors and no deputy directors. It was resolved that the Company shall have a chartered auditing firm as auditor.

In addition, it was resolved in accordance with the Nomination Committee’s proposal that directors’ fees shall amount to a total of SEK 3,000,000 including fees for committee work (preceding year: SEK 2,800,000) and shall be paid out to the directors and committee members in the following amounts:

  • SEK 325,000 (SEK 300,000) for each non-executive director and SEK 650,000 (SEK 600,000) for the Chairman of the Board, provided that he is not an employee of the Company;
  • SEK 50,000 (SEK 50,000) for each non-executive director serving as a member of the Remuneration Committee, and SEK 100,000 (SEK 100,000) for the Remuneration Committee chair, provided that he or she is not an employee of the Company; and
  • SEK 50,000 (SEK 50,000) for each member of the Audit Committee and SEK 100,000 (SEK 100,000) for the Audit Committee chair.

In addition, it was resolved that the auditor’s fees shall be paid in accordance with approved invoices.

Per Norman, Anna Frick, Fredrik Rüden, Mathias Hallberg, Carl Larsson, Torsten Söderberg and Hélène Westholm were re-elected as directors. Per Norman was re-elected as Chairman of the Board.

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PricewaterhouseCoopers AB was re-elected as the Company’s auditor. PricewaterhouseCoopers AB has announced that Authorised Public Accountant Aleksander Lyckow will continue as auditor-in-charge.

PRINCIPLES FOR APPOINTMENT OF THE NOMINATION COMMITTEE
The AGM resolved to adopt principles for appointment of the Nomination Committee in accordance with the Nomination Committee’s proposal (unchanged principles from the preceding year in all essential respects).

WARRANT BASED INCENTIVE PROGRAM FOR EXECUTIVE MANAGEMENT AND KEY INDIVIDUALS
The AGM resolved, in accordance with the board of directors’ proposal, to issue a maximum of 1,000,000 warrants, with deviation from the shareholders preferential rights, which may result in a maximum increase in the Company’s share capital of approximately EUR 12,000. The warrants shall entitle to subscription of new shares in the Company.

The warrants shall be subscribed for by the subsidiary Gears of Leo AB, with the right and obligation to, at one or several occasions, transfer the warrants to a maximum of 90 selected members of the management team, senior executives and key persons, at a price that is not less than the fair market value of the warrant according to the Black & Scholes valuation model and otherwise on the same terms as in the issuance.

The subscription price per share shall be determined to 130 percent of the volume weighted average price for the Company’s share on Nasdaq Stockholm during the period of five trading days starting with the day following 14 May 2021, i.e., 17 May 2021 up to and including 28 May 2021.

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The warrants may be exercised for subscription of shares during the period from 1 June 2024 up to and including 30 June 2024.

The maximum dilution effect of the incentive program amounts to a maximum of approximately 1.0 percent of the total number of shares and votes in the Company, assuming full subscription, acquisition and exercise of all offered warrants.

AUTHORIZATION FOR THE BOARD OF DIRECTORS TO DECIDE ON REPURCHASE AND TRANSFER OF OWN SHARES
The AGM resolved, in accordance with the Board’s proposal, to authorize the Board of Directors to decide on purchases of the company’s own shares. Share repurchases may be made only on Nasdaq Stockholm or any other regulated market. The authorization may be exercised on one or more occasions before the 2022 Annual General Meeting. The maximum number of own shares that may be repurchased so that the Company’s holding of shares at any given time does not exceed 10 percent of the total number of shares in the Company. Repurchases of the Company’s own shares on Nasdaq Stockholm may only be made at a price within the range of the highest purchase price and lowest selling price at any given time. Payment for the shares shall be made in cash.

The AGM also resolved, in accordance with the Board’s proposal, to authorize the Board of Directors to to decide on transfers of own shares, with or without deviation from the shareholders’ preferential rights. Transfers may be made on (i) Nasdaq Stockholm or (ii) outside of Nasdaq Stockholm in connection with acquisitions of companies, operations or assets. The authorization may be exercised on one or more occasions before the 2022 Annual General Meeting. The maximum number of shares that may be transferred corresponds to the number of shares held by the Company at the point in time of the Board of Directors’ decision on the transfer. Transfers of shares on Nasdaq Stockholm may only be made at a price within the range of the highest purchase price and lowest selling price at any given time. For transfers outside of Nasdaq Stockholm, the price shall be set so that the transfer is made at market terms. Payment for transferred shares may be made in cash, through in-kind payment, or through set-off against claims with the Company.

The purpose of the authorizations is to give the Board of Directors greater scope to act and the opportunity to adapt and improve the Company’s capital structure and thereby create further shareholder value, and take advantage of any attractive acquisition opportunities.

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AUTHORIZATION FOR THE BOARD OF DIRECTORS TO DECIDE ON NEW ISSUE OF SHARES
The AGM resolved, in accordance with the Board’s proposal, to authorize the Board of Directors, on one or more occasions, during the time up until the next Annual General Meeting, to decide to increase the Company’s share capital through a new issue of shares to such extent that it corresponds to a dilution of a maximum of 10 percent of the number of shares outstanding at the time of the Annual General Meeting calculated after full exercise of the issue authorization now proposed.

A new issue of shares may be carried out with or without deviation from the shareholders’ preferential rights. Shares issued with deviation from the shareholders’ preferential rights shall be issued at market terms. The Board of Directors shall have the right to decide on other terms for the issue. Payment may be made against cash payment, in-kind payment for through set-off against claims with the Company.

The purpose of the authorization is to give the Board of Directors greater scope to act and the opportunity to adapt and improve the Company’s capital structure and thereby create further shareholder value, and take advantage of any attractive acquisition opportunities.

REMUNERATION REPORT
The AGM approved the remuneration report.

For detailed terms regarding the above-described resolutions at the AGM, please refer to the complete proposals, which are available on the Company’s website: www.leovegasgroup.com.

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SOFTSWISS Game Aggregator: Largest Content Hub Certified in Brazil

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The SOFTSWISS Game Aggregator, the largest content hub in the iGaming industry, has secured Brazilian certification, becoming one of the first in the market to achieve this milestone.

Regulatory rules for iGaming come into effect in Brazil on 1 January 2025. According to them, platforms, aggregators, sportsbooks, and providers must undergo certification. Companies aiming to provide their services in Brazil in 2025 and beyond have been preparing for this transition throughout the year.

The SOFTSWISS team announces that its Game Aggregator is the first to fully comply with regulations, completing all necessary preparations and receiving the certificate to ensure smooth and efficient operations for its clients.

SOFTSWISS has also obtained certification for integration with the world’s largest game providers – Pragmatic Play, Evolution, and Playtech. These providers offer a diverse range of games tailored to suit the preferences of Brazilian players, from immersive live dealer experiences to engaging slots and table games, ensuring entertainment for every type of player.

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According to recent Kantar research conducted in November 2024, the overall satisfaction index for the SOFTSWISS Game Aggregator is 8.1 out of 10. Remarkably, half of the respondents rated the product a 10 or 9. Customer support service satisfaction scored even higher, at 8.4 out of 10

The Game Aggregator also boasts a key advantage: consistent 99.999% uptime, which is crucial for the iGaming business.

Ivan Montik, Founder of SOFTSWISS, notes: “According to our information, the SOFTSWISS Game Aggregator is the first aggregator fully prepared, both technically and legally, to work in Brazil when the new regulations take effect. This is a significant achievement that the team has worked on diligently and systematically. Our work doesn’t stop here – we are actively adding new providers to help our clients expand their presence in this promising Brazilian market, which is no longer ‘the sleeping giant’. It has awakened, and SOFTSWISS is at the forefront of this exciting transformation.”

To support this high level of performance, earlier this year SOFTSWISS appointed Rubens Barrichello, the Brazilian Formula 1 legend, as a Non-Executive Director, demonstrating its strong commitment to the local market. To ensure efficient operations and promptly address ongoing matters, SOFTSWISS also has a dedicated team of local business development managers in Brazil.

SOFTSWISS team will be available to discuss partnership in Brazil and other markets at the first major  iGaming event of 2025 – ICE Barcelona, taking place on 20–22 January, at stand 2G42.

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About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka Affiliate Platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.

The post SOFTSWISS Game Aggregator: Largest Content Hub Certified in Brazil appeared first on European Gaming Industry News.

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Digitain has promoted Group Chief Strategy Officer to CEO of Relum

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Digitain, the leading provider of sportsbook and casino platform solutions, announced today that Edmond Ghulyan, the Group Chief Strategy Officer, has been promoted to CEO of Relum, the casino engine solution provider that is part of the Digitain Group of Companies.

Edmond has held several key leadership positions within the Digitain Group over the past seven years, including Chief of Centrivo Products and Group Chief Strategy Officer. He brings extensive experience in the iGaming industry, along with expertise in digital strategy, product innovation, operations, and market-product fit strategies. His comprehensive understanding of both B2B and B2C iGaming supply chains will be invaluable in further scaling Relum’s product offerings, including casino aggregation services and market expansion.

Digitain’s Group Founder, Mr. Vardges Vardanyan, commented on the promotion: “I am delighted to have Edmond lead the Relum team. With his extensive experience in product and commercial development at Digitain over the years, Edmond will support and facilitate comprehensive solutions as Relum expands its services to B2C partner operators in high-growth markets.”

Edmond Ghulyan, CEO of Relum, expressed his enthusiasm for the new role: “I am truly excited to have played my part of Digitain’s growth journey, and now Relum, a company that has consistently expanded its business solutions within the global regulated iGaming supply chain. The company’s customer-centric approach and commitment to its people in delivering complex solutions for today’s multi-jurisdictional regulated operators have always impressed me. I eagerly look forward to scaling the Relum business with new and existing partners and leading the product and sales team in the coming months.”

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ZITRO CELEBRATES THE LAUNCH OF ITS FIRST WAP IN ARGENTINA AT THE HIPÓDROMO DE PALERMO

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Zitro, a leading global gaming company, has announced the successful launch of its first Wide Area Progressive (WAP) in Argentina, with over 45 slot cabinets initially installed in five gaming halls located at the Hipódromo de Palermo. The product selected for this project is the successful game “Mighty Hammer Ultimate” on Zitro’s premium cabinet, “Altius Glare.”

This system represents the first WAP in South America. A shared jackpot called “Mega Pozo Mighty Hammer” starts at 50 million Pesos and grows progressively, making it the largest accumulated prize in the region. The official inauguration was held on December 19th during the exclusive “Noche de Palermo” event, including a live performance by the renowned Argentinian band Los Totora.

Company Directors commented: “We are very pleased to introduce Argentina’s first WAP at the Hipódromo de Palermo. This project – for which we partnered with Zitro – reiterates Casino Club’s commitment to innovation, always under the premise of offering our customers an entertainment experience that exceeds all their expectations.”

For her part, Alejandra Burato, Regional Director of Zitro for LatAm, commented: “The launch of our first WAP in Argentina is a very important milestone for Zitro, as it confirms our company as a supplier of machines for WAPs. Attending the inauguration event and seeing firsthand how our products connect with players has been a pleasure, providing a unique and different entertainment experience in the region. Additionally, I want to highlight the excellent marketing surrounding the launch, contributing to its success. Finally, I would like to thank Casino Club for their trust and collaboration, which has allowed us to present this innovative proposal in such a renowned and emblematic place as the Hipódromo de Palermo.”

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