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Stockholm, Sweden—June 15, 2018— The Extraordinary General Meeting of IAR Systems Group AB on June 15, 2018, passed the following key resolutions:
• The General Meeting resolved in accordance with the Board's proposal to introduce a long-term incentive program for all employees of the IAR Systems Group. In total, the program comprises a maximum of 600,000 options each entitled to subscription or acquisition of one Class B share in the Company, corresponding to a maximum of approximately 4.2 percent of the share capital and approximately 4.0 percent of the votes in the Company after dilution.
• The General Meeting resolved in accordance with the Board's proposal for the exchange of employee stock options in connection with the acquisition of Secure Thingz, Inc.
• The General Meeting resolved to amend Section 5 of the Articles of Association, which implies the introduction of a new share class, Class C shares. Class C shares shall not be eligible for dividend distribution. Class C shares held by the Company shall be reclassified into Class B shares following a decision by the Board.
• In order to ensure the delivery of shares to employees in connection with exercise of options as described above, the General Meeting resolved to authorize the Board to decide on a new issue of no more than 359,668 Class C shares. In addition, the Board was authorized to repurchase the same amount of Class C shares. The General Meeting also resolved that after the reclassification of Class C shares into Class B shares, the Company may transfer Class B shares for the delivery of shares according to the option programs above.
IAR Systems Contacts
Josefin Skarin, Investor Relations, IAR Systems Group AB
Stefan Skarin, CEO and President, IAR Systems Group AB
This information is information that IAR Systems Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 15.30 CET on June 15, 2018.
IAR Systems supplies future-proof software tools and services for embedded development, enabling companies worldwide to create the products of today and the innovations of tomorrow. Since 1983, IAR Systems’ solutions have ensured quality, reliability and efficiency in the development of over one million embedded applications. The company is headquartered in Uppsala, Sweden and has sales and support offices all over the world. Since 2018, Secure Thingz, a provider of advanced security solutions for embedded systems in the IoT, is part of IAR Systems. IAR Systems Group AB is listed on Nasdaq Stockholm, Mid Cap. Learn more at www.iar.com.