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Announcement from LeoVegas AB (publ)’s annual general meeting

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LeoVegas Group to acquire game developer Push Gaming
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The annual general meeting 2022 (“AGM”) of LeoVegas AB (publ) (“LeoVegas” or the “Company”) was held today on 19 May 2022 in Stockholm and the following resolutions were passed by the meeting.

Adoption of the income statement and the balance sheet
The AGM resolved to adopt the income statement and the balance sheet in LeoVegas and the consolidated income statement and the consolidated balance sheet.

Allocation of profit
The board of directors resolved, prior to the AGM, to withdraw the proposal for dividends to the shareholders.

The AGM resolved not to pay any dividend to the shareholders and that the previously accrued profits, including the share premium account and year result would be carried forward.

Discharge from liability
The board of directors and the CEO were discharged from liability for the financial year 2021.

Election of the board of directors, auditor and remuneration
The AGM resolved, in accordance with the nomination committee’s proposal, that the board shall consist of seven directors. It was further resolved that the number of auditors shall be one registered accounting firm.

It was resolved that the remuneration shall be not more than SEK 3,000,000 in total, including remuneration for committee work (SEK 3,000,000 previous year), and be paid to the board of directors and the members of the established committees in the following amounts:

  • SEK 325,000 for each of the non-employed directors and SEK 650,000 to the chairman provided that the chair is not an employee;
  • SEK 50,000 for each of the non-employed members of the remuneration committee and SEK 100,000 to the chairman of the committee who is not also an employee; and
  • SEK 50,000 for each of the non-employed members of the audit committee and SEK 100,000 to the chairman of the committee who is not also an employee.

The auditor shall be entitled to a fee in accordance with approved invoice.

It was resolved, in accordance with the nomination committee’s proposal, to re-elect Per Norman, Anna Frick, Mathias Hallberg, Carl Larsson, Fredrik Rüden, Torsten Söderberg and Hélène Westholm as directors. Per Norman was re-elected as chairman of the board.

It was further resolved to re-elect the registered audit firm PricewaterhouseCoopers AB as the Company’s auditor for a period up until the end of the next annual general meeting. PricewaterhouseCoopers AB has announced its appointment of Niklas Renström as main responsible auditor.

 

Principles for the nomination committee
It was resolved to adopt principles for the appointment of a nomination committee in accordance with the nomination committee’s proposal.

Guidelines for remuneration to the senior executives
The AGM resolved, in accordance with the board of directors proposal, to adopt guidelines for remuneration to senior executives.

Incentive program
The board of directors resolved, prior to the AGM, to withdraw the proposal for an incentive program.

Authorization for the board of directors to resolve on repurchase and transfer of own shares
The AGM resolved, in accordance with the board of directors proposal, to authorise the board of directors to decide on purchases of the Company’s own shares in accordance with the following main terms:

Share repurchases may be made only on Nasdaq Stockholm or any other regulated market. The authorisation may be exercised on one or more occasions before the 2023 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.

In addition, it was resolved to authorise the Board of Directors to decide on transfers of own shares, with or without deviation from the shareholders’ preferential rights, in accordance with the following main terms:

Transfers may be made on (i) Nasdaq Stockholm or (ii) outside of Nasdaq Stockholm in connection with acquisitions of companies, operations or assets. The authorisation may be exercised on one or more occasions before the 2023 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, except for delivery of shares in connection with employee stock option programs. 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 authorisations 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. The authorization may also be used in order to enable delivery of shares in connection with employee stock option programs.

Authorization for the board of directors to resolve on share issuances
The AGM resolved, in accordance with the board of directors 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. 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 or through set-off against claims with the Company.

The purpose of the authorisation 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 resolved to approve the remuneration report.

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Play’n GO Music launches Piggy Blitz Disco Gold Visualiser

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Animated Music Video Released to Commemorate the launch of new slot title Piggy Blitz Disco Gold

Play’n GO, the world’s leading casino entertainment provider, has launched its first official music video, the Piggy Blitz Disco Gold visualiser – bringing Mr. Piggy Blitz and his iconic disco vibes to life like never before.

This exclusive three-minute video drops in conjunction with the release of the highly anticipated 6×4 Piggy Blitz Disco Gold online slot, inviting fans and players to groove alongside Mr. Piggy Blitz himself as he lights up the dance floor.

The dynamic video showcases a mashup of the game’s upbeat soundtrack, featuring Mr. Piggy Blitz dancing in perfect sync with the music.

Packed with the neon-lit energy of the 80s and designed to captivate fans of both the game and retro music culture, the video serves as the ultimate soundtrack for Play’n GO’s latest release.

To watch the Piggy Blitz Disco Gold visualiser, go to playngo website

Piggy Blitz Disco Gold is an electrifying 6×4 online slot sequel, immersing players in a world of 80s disco fun. The game is filled with features like Cash Coins, Piggy Banks, and the Gold Piggy Feature, giving players endless opportunities to hit massive prizes, with potential wins up to x5,000 their stake.

Ebba Arnred, Chief Marketing Officer and Co-Founder of Play’n GO, said:

“The Play’n GO Music team has worked tirelessly to create something truly special for our fans, capturing the excitement and energy of Piggy Blitz Disco Gold in a way that will resonate with both iGaming fans and music lovers.

“The Piggy Blitz IP’s legendary retro style has never looked better – and we can’t wait for everyone to hit play, get grooving, and experience the thrill of the disco dancefloor.”

Play’n GO Music showcases the Swedish gaming giants Play’n GO’s soundtracks of their industry-leading games and produce new music all under the imprint Play’n GO Music.

Find out more about Play’n GO Music and Play’n GO, visit playngo website

 

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Latest News

GamCare highlights new ways for banks to proactively screen transactional data to detect harmful gambling

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The gambling support charity GamCare is today highlighting ways that banks in the UK can protect their customers from experiencing harm from gambling, following a recent workshop it ran with experts from across the financial services sector.

GamCare’s Gambling Related Financial Harm project was established in 2019 and is a cross-sector initiative to share knowledge, develop resources, and enable firms to support customers who are affected by gambling harms.

In the workshop – which brought over 70 representatives from financial services, the debt advice sector and gambling support services – GamCare heard new ways in which some banks are beginning to take a more proactive role in protecting their customers.

During the session, participants heard from a speaker from Santander on how the bank was engaging with customers who were potentially at-risk, including better tools to review levels of gambling spend, more frequent push notifications about the support tools available, and signposting to support services after customers had spent large sums of money gambling in a 24-hour period.

Off the back of the session, the charity has recommended steps that banks can take to support those impacted by gambling.

These include analysing transactional data from customers to identify potential issues with gambling, such as high gambling spending compared to income, late night gambling transactions, or increased gambling activity around payday.

The charity is also calling on more banks to proactively refer customers at risk into third party expert gambling support, including services like the National Gambling Helpline, when transactional data indicates that the customer’s gambling may be becoming harmful and unaffordable.

Banks can also signpost to self-exclusion schemes like GAMSTOP and blocking software such as Gamban to offer customers extra protection, as well as their own support and tools, for example bank gambling blocks which most UK current account providers now offer.

Raminta Diliso, Financial Harm Manager at GamCare, said: “Last year, 72% of people who contacted the National Gambling Helpline disclosed financial difficulties. Banks are particularly well placed to detect harmful and unaffordable gambling through bank statements and transactional data, and provide more targeted support to their customers. We hope that more financial services firms will take a proactive approach and put the right steps in place to support customers who are experiencing financial difficulties related to gambling.”

Graeme Cunning, Vulnerable Customers Strategy Manager at Santander, said: “At Santander, we believe that the bank, although not responsible, does have a part to play in gambling harm prevention. We have built a suite of interventions, including letters and text messages, to provide timely signposting to support for customers at risk of financial detriment due to their gambling.”

To see the read the full report from this GamCare event, download ‘Transaction Monitoring for Harmful Gambling and Proactive Interventions’.

 

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eSports

Hilton Riyadh Hotel & Residences Named Official Main Partner for World Esports Championship 2024

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The International Esports Federation (IESF) is pleased to announce the Hilton Riyadh Hotel & Residences as the official main partner for the upcoming World Esports Championship 2024 in Riyadh, which begins on November 11.

This partnership unites Hilton Riyadh Hotel & Residences’ reputation with one of the most significant international Esports events, ensuring every participant has a world-class experience throughout their stay.

With over 480 athletes and teams from across the world, WEC24 will host competitors as honored guests of Hilton Riyadh Hotel & Residences, ensuring they have an exceptional environment to compete at their best and aim for the prestigious title of World Esports Champion.

“It’s exciting to work alongside a brand that deeply values our vision and understands the importance of a memorable experience for all of our athletes and participants. Together, we’re setting a new standard for Esports events and creating an unforgettable journey for everyone attending.” – said Ana Karakolevska, Chief Marketing Officer at IESF.

“At Hilton Riyadh Hotel and Residences, we are proud to be the main partner of the World Esports Championship 2024 in Riyadh. Our commitment to excellence aligns perfectly with this prestigious event, where we aim to provide every participant with a world-class experience that goes beyond expectations.

By partnering with the International Esports Federation, we are setting a new standard for Esports events, ensuring that WEC24 will be an unforgettable journey for all attendees. Join us as we elevate Esports and create moments that will be cherished for a lifetime.” – said Hans Schiller, General Manager at Hilton Riyadh Hotel and Residences.

The partnership reflects a shared commitment to elevating Esports and enhancing each attendee’s experience. Both IESF and Hilton Riyadh Hotel & Residences share the goal of making WEC24 one of the best Esports events to date, with the highest standard of care and support for athletes and fans alike.

 

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