Bulletin from the Annual General Meeting in SMART VALOR AG on 29 June 2023
The Annual General Meeting (the "AGM") in SMART VALOR AG (the "Company" or "SMART VALOR") was held today at 17:00 CEST in the offices of PST legal & consulting, Baarerstrasse 10, 6300 Zug. Holders of Swedish Depositary Receipts have been able to vote by proxy before the AGM. All resolutions were passed with the required majority in accordance with the previously announced resolution proposals. The main resolutions adopted by the AGM are summarized below.
Financial statements and the annual report of the Board of Directors
The AGM approved the financial statements as of 31.12.2022 and the annual report of the Board of Directors.
Annual result
The AGM resolved to carry forward the annual loss of the business year ending 31 December 2022.
Elections
The AGM re-elected Olga Feldmeier (chairman), Jean-Baptiste Zufferey and Markus Rinderer to the Board of Directors for a further term of one year.
Olga Feldmeier and Markus Rinderer were re-elected to the Renumeration Committee for a further term of one year.
BDO Ltd was re-elected as the Company's auditor for a further term of one year.
PST Legal AG, Zug, was elected as the independent proxy for a one-year term of office expiring after the completion of the Annual General Meeting in 2024.
Employee Stock Option Plan (ESOP)
The AGM resolved to amend the terms of the existing ESOP as follows:
Strike price shall be equal to the 1-3 month volume weighted average price of SMARTSDB in the quarter immediately preceding the grant.
Compensation
The AGM resolved that the maximum amount of remuneration for the compensation of the Board of Directors for the term of office until the next Annual General Meeting shall be:
Cash consideration CHF 200,000
Valor consideration 40,000 Valor tokens
Stock options 60,000 options
The maximum amount of renumeration for the compensation for the Executive Committee (management team) for the financial year 2024 shall be:
Cash consideration CHF 800,000
Valor consideration 400,000 Valor tokens
Stock options 100,000 options
Discharge of liability
The AGM resolved to issue discharge to the members of the Board of Directors and management for their activities in the business year 2022.
For additional information, please contact
Olga Feldmeier, board chair and co-founder
Email [email protected]
Adrian Faulkner, general counsel
Mobile: +44 779 695 0688
Email: [email protected]
Certified Adviser
Mangold Fondkommission AB
About SMART VALOR
SMART VALOR is a Swiss company that became the first European digital asset exchange listed on Nasdaq First North. The company's mission is to provide a trusted gateway to blockchain technology for investors and institutions. On the B2C side, it operates a retail digital asset exchange. On the B2B side, the company works with banks and fintech companies offering its technology as a white-label Crypto as-a-Service solution. SMART VALOR was one of the first crypto companies to receive to be registered as an exchange and token custodian under the Blockchain Act of Liechtenstein. www.smartvalor.com
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