This is an in-house translation of the Swedish press release “Årsstämma i Tigran Technologies AB (publ) avhölls den 20 april 2010”, dated April 21, 2010. In the event of any discrepancies between the Swedish and the English versions, the Swedish version shall prevail.
Press release April 21, 2010
In accordance with the board's proposal it was resolved not to pay any dividends for the 2009 financial year.
The annual general meeting resolved that the board shall be composed of seven directors with no deputies, whereby the board members Jan-Eric Österlund, Lars Magnus Bjursten, Maria Chambers, Staale Petter Lyngstadaas, Sven-Erik Nilsson and Anders Williamsson were re-elected and Knut Ramel was elected as new board member. It was further resolved that a remuneration of in total SEK 150,000 shall be paid to the board, to be allocated with SEK 75,000 to each of Maria Chambers and Anders Williamsson.
The annual general meeting further resolved, in accordance with the board's proposal, to authorize the board for the period up until the next annual general meeting to resolve to issue new shares or warrants with or without pre-emptive rights for the shareholders. The authorization may not be utilized to a greater extent than that a total of 30,000,000 shares are issued or may be issued through the utilization of the warrants issued in accordance with the authorization.
The annual general meeting finally resolved, in accordance with the board’s proposal, to issue not more than 10,000,000 warrants to the company’s wholly-owned subsidiary Tigran Technologies Sweden AB for further transfer to Tigran’s managing director, the members of the management team and other existing and future employees (not more than 6,000,000 warrants) and to certain advisors and consultants engaged by the company (not more than 4,000,000 warrants). Such transfer shall be made to the market value, calculated based on the Black & Scholes model. Each warrant entitles to subscription for one new common share in the company at a subscription price of SEK 0.30 per share up to and including 31 December 2013.
Malmö, Sweden, April 21, 2010
Tigran Technologies AB (publ)
For more information, please contact Björn Sellert, CEO Tigran Technologies AB:
T: +46 768 60 77 10
E: b.sellert@tigran.se
W: www.tigran.se
About Tigran Technologies AB
Tigran Technologies AB (publ) is a dental sales and development company based in Malmö, Sweden. Tigran offers innovative regenerative systems for bone regeneration and implant fixation. The core technology consists of the porous, non-resorbable titanium granules, optimized in terms of shape, size and surface chemistry to provide a unique environment for bone regeneration. Tigran runs an extensive clinical development program and its products, methods and technologies are covered by a strong intellectual property portfolio. Tigran’s products are distributed through exclusive distributors.
