Betsson shareholders adopted a number of resolutions at the recent Annual General Meeting (AGM) after it secured shareholder approval for a two-share split and automatic redemption of new shares. This year’s AGM meeting included only the formal part in order to restrict the time spent, as a result of guidelines set by the Swedish Public Health Agency regarding social distancing measures. Betsson responded to the guidelines in order to help prevent the spread of Covid-19.
To further reduce the risk of spreading Covid-19, the Betsson AB Board of Directors allowed shareholders to vote by post prior to the AGM. The voting form was made available via the firm’s website at betssonab.com. The form provided information on how shareholders could vote either by email or post. Shareholders with shares in a custody account were required to ask their broker or bank to register shares in their own name with Euroclear Sweden AB before June 4, 2020, if they wished to attend the meeting. Resolutions made at the meeting included the following:
Number of votes and shares
As of May 2020, the total number of votes stood at 287,692,238, with the total number of company shares at 144,493,238. These numbers are divided as follows: 15,911,000 Series A shares, with 159,110,000 votes, 122,504,730 series B shares, with 122,504,730 votes, and 6,077,508 series C shares, with 6,077,508 votes. Also, in May 2020, the firm held 1,763,400 series B shares and 6,077,508 series C shares, which were represented at the AGM.
The Betsson business
Betsson’s core business consists of administering and investing in shareholding in companies, which through either themselves or partners, provides online games to the end user. The company holds a large portfolio of online casino properties, including Betsson Malta, which operates games through joint ventures and various websites. Betsson Malta provides Bingo, Casino, Games, Scratch Cards, and Sports Betting, such as football and horse racing. The majority of Betsson’s customers originate from the Scandinavian countries, as well as other countries in Europe.
The proposal for the resolution, along with associated statements and sports aligned with the Swedish Companies Act, was made available at betssonab.com and was sent to shareholders at their request.
Under the Swedish Companies Act, Chapter 7, section 32, in the general meeting, shareholders were able to request data from the Chief Executive Officer and Board of Directors regarding circumstances with the potential to affect the firm’s financial situation.