Decisions of the Extraordinary General Meeting of Duell Corporation
Duell Corporation’s (”Duell” or the ”Company”) Extraordinary General Meeting was held on November 30, 2023 without a meeting place as a virtual meeting. The Extraordinary General Meeting adopted all the proposals of the Board of Directors to the Extraordinary General Meeting.
Authorizing the Board of Directors to resolve on a rights issue
The Extraordinary General Meeting authorized the Board of Directors to resolve on a share issue against consideration in one instalment so that a maximum number of 2,500,000,000 new shares in the Company may be issued under the authorization. Under the authorization, the Board of Directors may resolve to arrange the share issue in accordance with the shareholders’ pre-emptive subscription right in the same proportion as the shareholders are already holding shares in the Company on the record date of the share issue. In addition, the Board of Directors have the right to resolve to offer the shares not subscribed by shareholders pursuant to their pre-emptive subscription right for other shareholders or other parties decided by the Board of Directors. The Board of Directors shall resolve on all other terms and conditions of the share issue.
The authorization shall be in force until June 30, 2024. The authorization does not revoke the authorization to the Board of Directors to resolve on a share issue given by the Annual General Meeting on December 1, 2022.
Amendment of the articles of association
The Extraordinary General Meeting decided that section 12 (Notification on the Change of Holdings) and section 13 (Obligation to Make a Tender Offer) of the articles of association of the Company are removed in their entirety.
Minutes of the Extraordinary General Meeting
The minutes of the Extraordinary General Meeting will be available on the Company’s website investors.duell.eu/corporate_governance/egm_2023 as of December 14, 2023, at the latest.
Duell Corporation, Board of Directors
Further information:
Pellervo Hämäläinen, Communications and IR Manager
Duell Corporation
+358 40 674 5257
pellervo.hamalainen@duell.eu
Certified advisor
Oaklins Merasco Oy
+358 9 612 9670
Duell Corporation (Duell) is an import and wholesale company based in Mustasaari, Finland, established in 1983. Duell imports, manufactures, and sells products through an extensive distribution network in Europe covering 8,500 dealers. The range of products includes 150,000 items under 550 brands. The assortment covers spare parts and accessories for motorcycling, bicycling, ATVs/UTVs, mopeds and scooters, snowmobiling, and boating. Logistics centres are in Finland, Sweden, Netherlands, France, and the UK. Duell’s net sales in 2023 was EUR 119 million and it employs over 200 people. Duell’s shares are listed on the First North Marketplace. www.duell.eu