Notice to Annual General Meeting of shareholders in Zhoda Investments
Notification and right to participate
The right to participate at the general meeting vests in a person who is registered as a shareholder in the share register maintained by Euroclear Sweden AB regarding circumstances pertaining on 7 June 2018 and not later than 7 June 2018 notifies the Company of their intention to participate at the general meeting.
Notice of participation may be given by post to Zhoda Investments AB (publ), Hovslagargatan 5B, 111 48 Stockholm or by e-mail to firstname.lastname@example.org. The notification should state the name, personal ID or registration number, address, daytime telephone number and shareholding of the shareholder. Authorization documents such as power of attorney and registration certificates should, where appropriate, be submitted to the Company prior to the general meeting. Shareholders who wish to be accompanied by one or two assistants may give notice thereof within the time and in the manner applicable to shareholders. A power of attorney form will be made available on www.zhodainvestments.com.
Shareholders with nominee-registered shares must, in order to be entitled to participate at the general meeting, request that the nominee effects a temporary re-registration (voting right registration) of the shares in ample time prior to 7 June 2018.
1. Opening of the meeting
2. Election of chairman of the general meeting
3. Preparation and approval of the voting register
4. Election of one or two persons to attest the minutes
5. Determination of whether the general meeting has been duly convened
6. Approval of the agenda
7. Presentation of the annual report and auditor's report as well as consolidated financial statements and auditor's report for the group
8. Resolutions regarding
a. adoption of the income statement and balance sheet as well as the consolidated income statement and the consolidated balance sheet
b. allocation of the company's results in accordance with the adopted balance sheet
c. discharge from liability of the directors and CEO
9. Determination of the numbers of directors/alternate directors and auditors/alternate auditors
10. Determination of fees for the board of directors and the auditors
11. Information regarding appointments held in other companies by candidates for election to the Board of Directors, election of directors as well as auditor and alternate auditor
12. Closure of the general meeting Proposed resolutions
Item 8 b - Resolution on allocation of results
The board proposes that no dividend is paid for the financial year.
Item 9-11 - Election of members of the board of directors, chairman of the board and auditor as well as fees
Shareholders representing approximately 50 per cent of the capital propose that the board shall consist of four ordinary members. The shareholders also propose re-election of the board members Björn Lindström, Peter Geijerman, Zenon Potoczny and Katre Saard. Simon Escott has declined re- election. It is further proposed that Björn Lindström is re-appointed as chairman of the board.
It is proposed that the company shall have one auditor and no alternate auditor and that the authorized auditing firm Ernst & Young AB shall be re-elected.
It is proposed that the general meeting resolves that board fees be paid to the chairman in the amount of SEK 100,000 (unchanged compared to previous year) and SEK 50,000 (unchanged compared to previous year) to each of the other directors with the exception of Zenon Potoczny who is employed in the group. Fees will thus total SEK 200 000. It is proposed that the auditors are paid in accordance with approved invoices.
The annual report was published on 4 May 2018. The board's complete proposed resolutions and other documents for the annual general meeting will be made available in accordance with the framework in the Swedish Companies Act at the Company's office (addresses above) and will be sent free-of-charge to shareholders who so request and provide their mailing address. The documents will also be made available no later than three weeks before the general meeting on the Company's website (www.zhodainvestments.com). The documents will also be available at the general meeting.
The Company currently has 130,628,729 shares registered with the Swedish Companies Registration Office (Sw. Bolagsverket), of which 5,333,300 are shares of series A (10 votes/share) and 125,295,429 are shares of series B (1 vote/share). The number of voting rights amount to 178,628,429.
If requested by a shareholder and provided that the board deems that it can take place without causing material damage to the company, the board and the CEO shall provide information about circumstances that may affect the assessment of an item on the agenda, circumstances that may affect the assessment of the company's or its subsidiaries' financial situation, and the company's relationship with another company within the Group.
Stockholm, May 2018
Zhoda Investments AB (publ)
The Board of Directors
This is an English translation of the Swedish original. In case of discrepancies, the Swedish original shall prevail.
Stockholm, 16 May 2018
About Zhoda Investments
Zhoda Investments invests in selected unlisted European ventures and drives growth and profitability through active ownership and an entrepreneurial approach. Zhoda owns an organic winery in Dalmatia with a 47-hectare state of the art vineyard producing red wine from the local Babic grape. Zhoda has also acquired a winery on the Dalmatian island of Korcula that produces white premium wines from the indigenous Posip grape. The group also holds a 45 per cent interest in the Lelyaki oil field in Ukraine with 2P proven and probable oil reserves of 8 million barrels net to the company. Zhoda Investments is actively pursuing new investments. The company's shares are traded on Pareto Securities OTC. For more information, visit www.zhodainvestments.com.
Vinerna Testament Babic och Testament Posip från Zhoda Investments vingård i Dalmatien finns nu tillgängliga för bolagets aktieägare och den svenska marknaden via Systembolagets beställningssortiment. Vinerna säljs i över 100 restauranger i Kroatien och nu kan även den svenska marknaden ta del av dessa ekologiska viner framställda av Dalmatiens ledande vinmakare.
The Testament Babic and Testament Posip wines from Zhoda Investments' winery in Dalmatia are now available for the company's shareholders and the Swedish market through Systembolaget. Over 100 restaurants in Croatia sell these wines made by Dalmatia's leading winemakers and they have now been made available to the Swedish market.
Vid årsstämma i Zhoda Investments AB fattade aktieägarna i huvudsak följande beslut.
The shareholders of Zhoda Investments AB passed the following main resolutions at the Annual General Meeting.
Zhoda Investments ("Zhoda") har framgångsrikt slutfört en nyemission med företrädesrätt för befintliga aktieägare. Nyemissionen som övertecknades med 18% tillför bolaget 20,9 miljoner kronor före emissionskostnader. Medlen ska främst användas för att utveckla Zhodas ekologiska vinverksamhet mot visionen att bli Dalmatiens ledande producent av kvalitetsviner med 1 miljon flaskor per år.
Zhoda Investments ("Zhoda") has successfully completed an issue of shares with preferential rights for shareholders. The issue was oversubscribed by 18 per cent and raised SEK 20.9 million before issue costs. The funds will primarily be used to develop Zhoda's organic wine operations towards the vision of becoming Dalmatia's leading winery with 1 million bottles of premium wine per year.
Zhoda Investments ("Zhoda") genomför en företrädesemission på 21 miljoner kronor. I samband med detta har vd Robert Karlsson genomfört presentationer av emissionen och bolagets investeringsplaner. Nedan finns videolänkar till ett urval av dessa presentationer. Teckningstiden löper ut fredag 1 juni.
Zhoda Investments ("Zhoda") is currently conducting a rights issue. In connection with this, CEO Robert Karlsson has made several presentations on the issue and company's investment plans. Links to a selection of these presentations are found below. The subscription period ends on Friday 1 June.
Ny säljkanal etablerad och all olja producerad under januari-april 2018 har sålts mot förskottsbetalning
Zhoda Investments ("Zhoda") lämnar en operativ uppdatering avseende oljeverksamheten i Poltava Ukraina. Under årets fyra första månader har Zhodas 45 procentiga andel av fältets produktion uppgått till 33 000 fat olja. Bolaget har framgångsrikt etablerat en ny säljkanal för att korta ledtiden mellan produktion och erhållna betalningar. All olja producerad under årets fyra första månader har sålts mot förskottsbetalning och denna har inbringat försäljningsintäkter motsvarande cirka 16 miljoner kronor.
Zhoda Investments ("Zhoda") presents an operational update on the oil operations near Poltava in Ukraine. During the first four months of the year, Zhoda's 45 per cent share of the field production amounted to 33 000 barrels. The company has successfully established a new sales channel to reduce the lead-time from production to receipt of payments. All of the oil produced during the first four months of the year has been sold on pre-payment, and this has generated revenues of approximately SEK 16 million.
Zhoda Investments vd Robert Karlsson genomför presentationer i Stockholm och Malmö om bolagets emission och investeringsplaner
Zhoda Investments ("Zhoda") offentliggjorde den 7 maj 2018 en företrädesemission på 21 miljoner kronor. I samband med detta kommer vd Robert Karlsson att genomföra presentationer av emissionen och bolagets investeringsplaner. Syftet med emissionen är att finansiera utvecklingen av den ekologiska vinverksamheten i Dalmatien. Bolaget bedriver även en oljeverksamhet med bevisade reserver i Poltava som gynnas av de stigande oljepriserna.
Presentations in Stockholm and Malmö by Zhoda Investments CEO Robert Karlsson on the rights issue and investment program
On 7 May 2018, Zhoda Investments ("Zhoda") announced a rights issue of SEK 21 million and CEO Robert Karlsson will be presenting the issue and the company's investment program. The issue will raise funds for the development of the organic wine operations in Dalmatia. The company also holds an investment with proven oil reserves in Poltava, currently benefiting from the rising oil price.
Den 7 maj 2018 offentliggjorde Zhoda Investments ("Zhoda") att styrelsen beslutat att på basis av ett bemyndigande från årsstämman genomföra en nyemission med företräde för befintliga aktieägare. Idag inleds teckningsperioden och i samband med detta publicerar bolaget ett informationsmemorandum som beskriver bolaget och emissionen. Emissionshandlingar med information om hur man tecknar sig skickas ut till aktieägarna och information finns även tillgänglig på bolagets hemsida.
On 7 May 2018, Zhoda Investments ("Zhoda") announced that the Board of Directors, based on a mandate from the AGM, had resolved to carry out an issue of shares with preferential rights for existing shareholders. The subscription period begins today and the company therefore publishes an investment memorandum (in Swedish) with information on the company and the issue of shares. Issue documents with instructions on how to subscribe are being distributed to the shareholders and are also available on the company's website.
Zhoda Investments ("Zhoda") har utvecklats väl sedan bolaget antog den nya verksamhetsinriktningen för cirka ett och ett halvt år sedan. En ekologisk vinverksamhet har etablerats i Dalmatien. Oljeverksamheten i Ukraina har fått en långsiktig bas genom förlängningen på 20 år av den licens som ger rätt att utvinna olja. Rörelseresultatet för 2017 uppgick till 14 miljoner kronor. För att kunna utveckla befintliga innehav vidare och ha en beredskap för tilläggsinvesteringar har styrelsen beslutat genomföra en nyemission med företräde för befintliga aktieägare. Styrelse och ledning har lämnat avsiktsförklaringar att teckna sig för sina andelar på 9,9 miljoner kronor, vilket motsvarar 48% av emission som maximalt kan uppgå till 20,9 miljoner kronor.
Zhoda Investments ("Zhoda") has had a solid development since the company assumed its new business focus 18 months ago. The company has acquired and transformed an organic wine business in Dalmatia. In addition, a long-term base for the oil operations in Ukraine has been established through the prolongation for 20 years of the license to extract oil. The operating profit for 2017 amounted to SEK 14 million. In order to create a financial base to further develop the current holdings and to make add-on investments the board of directors has resolved to conduct a new issue of shares with preferential rights for the current shareholders. The Board of Directors and Management have declared their intent to subscribe for their preferential rights, which amounts to SEK 9.9 million or 48 per cent of the maximum issue of SEK 20.9 million.