ArchivesReport of the AGM

Annual General Meeting in Maha Energy AB (publ)

on Share

Today, the annual general meeting of 2021 has been held in Maha Energy AB (publ). Below follows a summary of the decisions taken by the annual general meeting (all in accordance with the proposals presented in the notice to attend the meeting kept available at the Company’s website www.mahaenergy.ca).

The income statements and the balance sheets for the Company and the Group were approved and the Board of Directors and the CEO were discharged from liability for the financial year 2020.

The Meeting resolved that no dividend shall be paid for the financial year 2020 and that the Company’s available funds shall be carried forward in new account.

Jonas Lindvall, Nicholas Walker, Anders Ehrenblad, Harald Pousette, Seth Lieberman, and Fredrik Cappelen were re-elected as members of the Board of Directors. Harald Pousette was re-elected as Chairman of the Board.

The Meeting approved fees payable to the members of the Board of Directors and the Chairman of the Board of Directors, including remuneration for committee work, to be as follows: (i) annual fees of the members of the Board of Directors of SEK 300,000 (excluding the CEO); (ii) annual fee of the Chairman of the Board of Directors of SEK 415,000; (iii) annual fees of SEK 40,000 to members of the respective committees (excluding the CEO); (iv) annual fees of SEK 60,000 to the Chairman of the respective committees; (v) members of the Board of Directors shall be entitled to invoice the Company in so far as they perform services outside the Board assignment.

The accounting firm Deloitte AB was re-elected as the auditor of the Company, with authorized public accountant Fredrik Jonsson as the auditor in charge, for a period until the end of the 2022 Annual General Meeting. The auditor’s fee shall be paid upon approval of their invoice.

The Meeting approved the Nomination Committee’s proposal not to change the principles for the appointment of and instructions regarding a nomination committee adopted at the Annual General Meeting in 2020.

The Meeting resolved in accordance with the proposal of the Board of Directors to adopt a policy for remuneration and other employment conditions for senior executives of the Group, which shall apply for the time being. The policy is applicable on agreements entered into after the Annual General Meeting, and as far as changes are made to existing agreements, thereafter, and shall be reviewed at least every four years.

The Meeting resolved to approve the Company’s remuneration report for the financial year 2020.

The Meeting resolved in accordance with the proposals of the Board of Directors on two incentive programmes for senior management (LTIP 5 & LTIP 6) through issuance of warrants entitling to subscription of new shares of class A in the Company. Under the resolutions, the Company may issue a maximum of 1,048,286 under the incentive programme LTIP 5 and a maximum of 524,143 warrants under the incentive programme LTIP 6. The warrants within both incentive programmes may, with deviation from the shareholders’ preferential rights, only be subscribed for by the subsidiary Maha Energy Inc., after which Maha Energy Inc. is to transfer the warrants to the participants under each programme. Each warrant within the incentive programme LTIP 5 entitles to subscription for one new A-share in the Company during the period from and including June 1, 2024 up to and including February 28, 2025, at a subscription price shall be equal to 100 percent of the volume weighted average last closing price for the Company’s share on Nasdaq Stockholm during the period from and including May 21, 2021 until and including May 27, 2021. The increase of the Company’s share capital will, upon exercise of the warrants in incentive programme LTIP 5, amount to not more than SEK 11,531.146. Each warrant within the incentive programme LTIP 6 entitles to subscription for one new A-share in the Company during the period from and including June 1, 2023 up to and including February 29, 2024, at a subscription price shall be equal to 100 percent of the volume weighted average last closing price for the Company’s share on Nasdaq Stockholm during the period from and including May 21, 2021 until and including May 27, 2021. The increase of the Company’s share capital will, upon exercise of the warrants in incentive programme LTIP 6, amount to not more than SEK 5,765.573.

The Meeting resolved to authorize the Board of Directors to – for the period up to the next Annual General Meeting and at one or more occasions – resolve upon issuance of new shares, warrants and/or convertible debentures. Payment may be made in cash, in kind, through set-off of claims or otherwise be conditional. The Company’s share capital may be by support of the authorization be increased by an amount corresponding to 20 percent of the share capital and number of shares in the Company as of on the date the Board of Directors make use of the authorization. Deviation from the shareholders’ preferential rights shall be allowed in situations where a directed issue is deemed more appropriate for the Company due to timing, commercial or similar reasons, and in order to enable acquisitions.   

For more information, please contact:        

Jonas Lindvall (CEO)
Tel: +46 8 611 05 11       
Email: jonas@mahaenergy.ca

or

Victoria Berg (Investor Relations)
Tel: +46 8 611 05 11      
Email: victoria@mahaenergy.ca

Miscellaneous                         
This information was submitted for publication through the agency of the contact persons set out above on May 27, 2021, at 16:45 CET.

About Maha
Maha Energy AB (publ) is a listed, international upstream oil and gas company whose business activities include exploration, development and production of crude oil and natural gas. The strategy is to target and develop underperforming hydrocarbon assets on global basis. Maha operates four oil fields: Tartaruga and Tie in Brazil, Powder River (LAK Ranch) and Illinois Basin in the United States. The shares are listed on Nasdaq Stockholm (MAHA-A). The head office is in Stockholm, Sweden with a technical office in Calgary, Canada, as well as operations offices in Grayville, Illinois, USA and Rio De Janeiro, Brazil. For more information, please visit our website www.mahaenergy.ca

Attachments

20210527 Maha Energy Press Release – Outcome AGM 2021 (ENG)

20210527 Maha Energy Press Release - Outcome AGM 2021 (ENG)

Årsstämma i Maha Energy AB (publ)

on Share

Idag har årsstämman 2021 hållits i Maha Energy AB (publ). Nedan följer en sammanfattning av de beslut som fattades av årsstämman (samtliga i enlighet med de förslag som presenterats i kallelsen till årsstämman som hållits tillgänglig på bolagets webbplats, www.mahaenergy.ca).

Moderbolagets och koncernens resultat- och balansräkningar fastställdes och styrelsen och verkställande direktören beviljades ansvarsfrihet för räkenskapsåret 2020.

Stämman beslutade att ingen utdelning ska lämnas för räkenskapsåret 2020 och att bolagets till förfogande stående medel överförs i ny räkning.

Till styrelsen omvaldes Jonas Lindvall, Nicholas Walker, Anders Ehrenblad, Harald Pousette, Seth Lieberman och Fredrik Cappelen som ordinarie styrelseledamöter. Harald Pousette omvaldes till styrelseordförande.

Stämman beslutade arvoden till styrelseledamöterna och styrelseordförande, inklusive ersättning för utskottsarbete, enligt följande: (i) årligt arvode om 300 000 SEK till styrelseledamöter (utom verkställande direktören); (ii) årligt arvode om 415 000 SEK till styrelseordföranden; (iii) årlig ersättning om 40 000 SEK till ledamöter av respektive utskott (utom verkställande direktören); (iv) årlig ersättning om 60 000 SEK till ordföranden för respektive utskott; (v) styrelseledamöter ska ha rätt att fakturera bolaget i den mån de utför tjänster utanför styrelseuppdraget.

Revisionsbolaget Deloitte AB omvaldes som bolagets revisor, med den auktoriserade revisorn Fredrik Jonsson som huvudansvarig revisor, för en period som sträcker sig till slutet av årsstämman 2022. Arvode till revisorn ska utgå enligt godkänd räkning.  

Stämman beslutade i enlighet med valberedningens förslag att inga ändringar ska ske i gällande principer för tillsättande av och instruktion avseende valberedning fastlagda vid årsstämman 2020.

Stämman beslutade i enlighet med styrelsens förslag om antagandet av en policy för ersättning och andra anställningsvillkor för ledande befattningshavare i koncernen att gälla tills vidare. Policyn gäller för avtal som ingås efter årsstämman samt för det fall ändringar görs i befintliga avtal efter denna tidpunkt och ska utvärderas minst vart fjärde år.

Stämman beslutade att godkänna bolagets ersättningsrapport för räkenskapsåret 2020.

Stämman beslutade i enlighet med styrelsens förslag att införa två incitamentsprogram för ledande befattningshavare (LTIP 5 & LTIP 6) genom emission av teckningsoptioner till teckning av nya aktier av serie A i bolaget. Besluten innebär att bolaget ska emittera högst 1 048 286 teckningsoptioner inom ramen för incitamentsprogrammet LTIP 5 och högst 524 143 teckningsoptioner inom ramen incitamentsprogrammet LTIP 6. Rätt att teckna teckningsoptionerna ska inom bägge incitamentsprogram, med avvikelse från aktieägarnas företrädesrätt, endast tillkomma dotterbolaget Maha Energy Inc., varefter Maha Energy Inc. ska överlåta teckningsoptionerna till deltagarna under respektive program. Varje teckningsoption inom incitamentsprogrammet LTIP 5 ger rätt att teckna en ny A-aktie i bolaget under tiden från och med den 1 juni 2024 till och med den 28 februari 2025 till en teckningskurs uppgående till ett belopp motsvarande 100 procent av den volymvägda genomsnittliga slutliga betalkursen för bolagets aktie på Nasdaq Stockholm under perioden från och med den 21 maj 2021 till och med 27 maj 2021. Ökningen av bolagets aktiekapital kommer vid fullt utnyttjande av teckningsoptionerna inom incitamentsprogrammet LTIP 5 att uppgå till högst 11 531,146 SEK. Varje teckningsoption inom incitamentsprogrammet LTIP 6 ger rätt att teckna en ny A-aktie i bolaget under tiden från och med den 1 juni 2023 till och med den 29 februari 2024 till en teckningskurs uppgående till ett belopp motsvarande 100 procent av den volymvägda genomsnittliga slutliga betalkursen för bolagets aktie på Nasdaq Stockholm under perioden från och med den 21 maj 2021 till och med 27 maj 2021. Ökningen av bolagets aktiekapital kommer vid fullt utnyttjande av teckningsoptionerna inom incitamentsprogrammet LTIP 6 att uppgå till högst 5 765,573 SEK.

Stämman beslutade att bemyndiga styrelsen att – under tiden fram till nästkommande årsstämma samt vid ett eller flera tillfällen – fatta beslut om emission av nya aktier, teckningsoptioner och/eller konvertibler. Betalning ska kunna ske kontant eller genom apport, kvittning eller eljest med villkor. Bolagets aktiekapital ska kunna ökas med ett belopp motsvarande 20 procent av aktiekapitalet och antalet aktier i bolaget från och med det datum styrelsen utnyttjar bemyndigandet. Avvikelse från aktieägarnas företrädesrätt ska godtas i situationer då en riktad emission anses mer lämpad för bolaget med hänsyn till tidpunkt, kommersiella eller dylika anledningar för att möjliggöra förvärv.

För ytterligare information, kontakta:        
Jonas Lindvall (CEO)
Tel: +46 8 611 05 11       
E-post: jonas@mahaenergy.ca

eller

Victoria Berg (Investor Relations)
Tel: +46 8 611 05 11      
E-post: victoria@mahaenergy.ca

Övrigt              

Informationen lämnades för publicering via kontaktpersonerna som anges ovan den 27 maj 2021 klockan 16:45 CET.

Kort om Maha

Maha Energy AB (publ) är ett listat, internationellt uppströmsolje- och gasbolag vars affärsverksamhet inkluderar prospektering, utveckling och produktion av råolja och naturgas. Strategin är att inrikta sig på att utveckla underpresterande kolvätetillgångar på en global basis. Maha är verksam på fyra oljefält, Tartaruga- och Tiefältet i Brasilien samt LAK Ranch och Illinois Basin i USA. Bolagets aktier är listade på Nasdaq Stockholm (MAHA-A). Bolagets huvudkontor ligger i Stockholm, Sverige. Bolaget har även ett tekniskt kontor i Calgary, Kanada, samt operativa kontor i Grayville, Illionis, USA och i Rio de Janeiro, Brasilien. För mer information, vänligen besök vår hemsida www.mahaenergy.ca

Bifogade filer

20210527 Maha Energy Press release – Outcome AGM 2021 (SWE)

20210527 Maha Energy Press release - Outcome AGM 2021 (SWE)

Annual General Meeting in Maha Energy AB (publ)

on Share
Maha Energy AB (publ)
Strandvägen 5A
SE-114 51 Stockholm
www.mahaenergy.ca 

                                                                                                                                 
Press release
Stockholm
May 27, 2020

Annual General Meeting in Maha Energy AB (publ)

The shareholders of Maha Energy AB (publ) gathered in Stockholm, Sweden, Wednesday May 27, 2020 for the Annual General Meeting.

The income statements and the balance sheets for the Company and the Group were approved and the Board of Directors and the CEO were discharged from liability for the financial year 2019.

The Meeting resolved that no dividend shall be paid for the financial year 2019 and that the company’s available funds shall be carried forward in new account.

Jonas Lindvall, Nicholas Walker, Anders Ehrenblad, Harald Pousette, Seth Liebermann, and Fredrik Cappelen were elected as members of the Board of Directors. Harald Pousette was elected as Chairman of the Board.

The Meeting approved fees payable to the members of the Board of Directors and the Chairman of the Board of Directors, including remuneration for committee work, to be as follows: (i) annual fees of the members of the Board of Directors of SEK 300,000 (excluding the CEO); (ii) annual fee of the Chairman of the Board of Directors of SEK 415,000; (iii) annual fees of SEK 40,000 to members of the respective committees (excluding the CEO); (iv) annual fees of SEK 60,000 to the Chairman of the respective committees; (v) members of the Board of Directors shall be entitled to invoice the Company in so far as they perform services outside the Board assignment.

The accounting firm Deloitte AB was re-elected as the auditor of the Company, with authorized public accountant Fredrik Jonsson as the auditor in charge, for a period until the end of the 2021 Annual General Meeting. The auditor’s fee shall be paid upon approval of their invoice.

The Meeting approved the Nomination Committee’s proposal not to change the principles for the appointment of and instructions regarding a nomination committee adopted at the Annual General Meeting in 2019.

The Meeting resolved in accordance with the proposal of the Board of Directors to adopt a policy for remuneration and other employment conditions for senior executives of the group, which shall apply for the time being. The policy is applicable on agreements entered into after the Annual General Meeting, and as far as changes are made to existing agreements, thereafter, and shall be reviewed at least every four years.

The Meeting resolved in accordance with the proposal of the Board of Directors on an incentive programme for senior management and certain key employees through issuance of warrants entitling to subscription of new shares of class A in the Company. Under the resolution, the Company may issue a maximum of 460,000 warrants. The warrants may, with deviation from the shareholders’ preferential rights, only be subscribed for by the subsidiary Maha Energy Inc., after which Maha Energy Inc. is to transfer the warrants to the participants under the programme. Each warrant entitles to subscription for one new A-share in the Company during the period from and including June 1, 2023 up to and including February 29, 2024. The subscription price shall be equal to 100 percent of the volume weighted average last closing price for the Company’s share on Nasdaq First North during the period from and including May 20, 2020 until and including May 27, 2020. The increase of the Company’s share capital will, upon exercise of the warrants, amount to not more than SEK 5,060.

The Meeting resolved to authorize the Board of Directors to – for the period up to the next Annual General Meeting and at one or more occasions – resolve upon issuance of new shares, warrants and/or convertible debentures. Payment may be made in cash, in kind, through set-off of claims or otherwise be conditional. The Company’s share capital may be by support of the authorization be increased by an amount corresponding to 20 percent of the share capital and number of shares in the Company as of on the date the Board of Directors make use of the authorization. Deviation from the shareholders’ preferential rights shall be allowed in situations where a directed issue is deemed more appropriate for the Company due to timing, commercial or similar reasons, and in order to enable acquisitions.   

The Meeting resolved in accordance with the proposal of the Board of Directors on changes to the company’s articles of association (i) regarding the prerequisites for participating in general meetings and (ii) regarding the removal of share classes C1 and C2.

    

For more information please visit www.mahaenergy.ca or contact:                   
Jonas Lindvall (CEO)
Tel: +1 403 454 7563                  
Email: jonas@mahaenergy.ca

Or

Victoria Berg (Investor Relations)
Tel: +46 8 611 05 11
Email: victoria@mahaenergy.ca

Miscellaneous
This information is such that Maha Energy AB must disclose in accordance with First North Rulebook. The information was submitted for publication through the agency of the contact persons set out above on May 27, 2020, at [19:00] CET.

Maha in Brief
Maha Energy AB is a Swedish public limited liability company. FNCA Sweden AB has been engaged as Certified Adviser and can be contacted at info@fnca.se or +46-8-528 00 399. The Company’s auditors are Deloitte. The Company’s predecessor Maha Energy Inc. was founded in 2013 in Calgary, Canada, by Jonas Lindvall and Ron Panchuk. In May 2016, the new group was formed with Maha Energy AB as parent company for purposes completing an initial public offering on the Nasdaq First North Sweden stock exchange. Jonas Lindvall, CEO and Managing Director, has 30 years of international experience in the oil and gas industry, starting his career with Lundin Oil during the early days of E&P growth.  After 6 years at Shell and Talisman, Jonas joined, and helped secure the success of, Tethys Oil AB. Maha’s strategy is to target and develop underperforming hydrocarbon assets on global basis. The Company operates four oil fields, Tartaruga and Tie in Brazil and LAK Ranch, in Wyoming, and IB in the Illinois Basin  U.S.A.  For more information, please visit our website www.mahaenergy.ca.

Attachments

Press release – Outcome of AGM 2020 – Swedish –
Press release – Outcome of AGM 2020 – English –

Press release - Outcome of AGM 2020 - Swedish -
Press release - Outcome of AGM 2020 - English -

Maha Energy AB (publ) (“Maha” or the “Company”) Nomination Committee for the AGM 2020

on Share

Maha Energy AB (publ)
Strandvagen 5A
SE-114 51 Stockholm
www.mahaenergy.ca
                                                          

Press release
Stockholm
November 26, 2019         

                                                                                            
Maha Energy AB (publ) (“Maha” or the “Company”) Nomination Committee for the AGM 2020

In accordance with the resolution at the Annual General Meeting (“AGM”) of Maha Energy AB on May 23, 2019, it was resolved that a Nomination Committee shall be appointed. The Nomination Committee shall comprise of the Chairman of the Board of Directors and three members appointed by the three largest shareholders by votes at the end of September each year.

On September 30, 2019, the three largest shareholders, which desired to appoint a representative to the Nomination Committee, were Kvalitena AB, Nerthus Investments Ltd. and Jonas Lindvall. Each such shareholder has appointed a representative, as shown below, who together with the Chairman of the Board of Directors will form the Company’s Nomination Committee.

The Nomination Committee’s members are:

  • Harald Pousette, appointed by Kvalitena AB
     
  • Lars Carnestedt, appointed by Nerthus Investments Ltd.
     
  • John Patrik Lindvall, appointed by Jonas Lindvall
     
  • Anders Ehrenblad, Chairman of the Company’s Board of Directors

The tasks of the Nomination Committee shall be to prepare and submit to the AGM 2020 proposals in respect of:

  • Number of members of the Board of Directors
  • Remuneration to the Chairman of the Board of Directors, the other members of the Board of Directors and the auditors respectively
  • Remuneration, if any, for committee work
  • The composition of the Board of Directors
  • The Chairman of the Board of Directors
  • Resolution regarding the process of the Nomination Committee 2020
  • Chairman at the AGM
  • Election of auditors

The AGM 2020 is planned to be held in Stockholm, Sweden on May 27, 2020.

Shareholders who would like to submit proposals to the Nomination Committee can do so via e-mail to nomcom@mahaenergy.ca marked “Proposal to the Nomination Committee” or by ordinary mail to the address:

Maha Energy AB
Nomination Committee
Strandvagen 5A
SE-114 51 Stockholm

Sweden

To ensure that the proposals can be considered by the Nomination Committee, proposals shall be submitted in due time before the AGM 2020, but not later than February 26, 2020.

Adviser

Certified Advisor: FNCA Sweden AB, info@fnca.se, Telephone: +46-8-528 00 399.

For more information, please contact:        

Jonas Lindvall (CEO)
Tel: +1 403 454 7560        
Email: jonas@mahaenergy.ca

or

Ron Panchuk (EVP)
Tel: +1 403 454 7560        
Email: ron@mahaenergy.ca

Miscellaneous   

The information was submitted for publication through the agency of the contact persons set out above on November 26, 2019 at 9:30 pm CET.

Maha in Brief

Maha Energy AB is a Swedish public limited liability company. FNCA Sweden AB has been engaged as Certified Adviser. The Company's auditors are Deloitte. The Company's predecessor Maha Energy Inc. was founded in 2013 in Calgary, Canada, by Jonas Lindvall and Ron Panchuk. In May 2016, the new group was formed with Maha Energy AB as parent company for purposes completing an initial public offering on the Nasdaq First North Sweden stock exchange. Jonas Lindvall, CEO and Managing Director, has 26 years of international experience in the oil and gas industry, starting his career with Lundin Oil during the early days of E&P growth.  After 6 years at Shell and Talisman, Jonas joined, and helped secure the success of, Tethys Oil AB. Maha's strategy is to target and develop underperforming hydrocarbon assets on global basis. The Company operates three oil fields, Tartaruga and Tie in Brazil and LAK Ranch, in Wyoming, U.S. For more information, please visit our website www.mahaenergy.ca.

Important Information

Publication or distribution, directly or indirectly, of this press release could in some jurisdictions be subject to restrictions according to law and recipients of this press release, or part of it, are required to inform themselves of, and comply with, such legal restrictions. This press release is not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa, Switzerland or the United States, or in any other jurisdiction where distribution of this press release could be illegal or subject to legal restrictions. Copies of this press release are not being made and may not be distributed or sent, in whole, or part, directly or indirectly, in violation of such restrictions. Failure to comply with such restrictions may constitute a criminal act under the United States Securities Act of 1933 (as amended) (“Securities Act”) or applicable laws in other jurisdictions.

Attachment

Press Release - Nomination Committee

Maha Energy AB: Annual General Meeting in Maha Energy AB

on Share
Maha Energy AB (publ)
Biblioteksgatan 1
SE-111 46 Stockholm
www.mahaenergy.ca

                                                                                                                                                
Press release
Stockholm
May 30, 2018

                                                                                                                                                                                                
Annual General Meeting in Maha Energy AB

The shareholders of Maha Energy AB (publ) gathered in Stockholm, Sweden, Wednesday May 30, 2018 for the Annual General Meeting.

The income statements and the balance sheets for the Company and the Group were approved and the Board of Directors and the CEO were discharged from liability for the financial year 2017.

The Meeting resolved that no dividend shall be paid for the financial year 2017 and that the company's available funds shall be carried forward in new account.

Wayne Thomson, Jonas Lindvall, Anders Ehrenblad and Harald Pousette were re-elected as members of the Board of Directors. Wayne Thomson was re-elected as Chairman of the Board.

The Meeting approved fees payable to the members of the Board of Directors and the Chairman of the Board of Directors, including remuneration for committee work, to be as follows: (i) annual fees of the members of the Board of Directors of SEK 170,000 (excluding the CEO); (ii) annual fee of the Chairman of the Board of Directors of SEK 300,000; (iii) annual fees of SEK 85,000 to members of the respective committees (excluding the CEO); (iv) annual fees of SEK 125,000 to the Chairman of the respective committees; (v) members of the Board of Directors shall be entitled to invoice the Company in so far as they perform services outside the Board assignment.

The accounting firm Deloitte AB was re-elected as the auditor of the Company, with authorized public accountant Fredrik Jonsson as the auditor in charge, for a period until the end of the 2019 Annual General Meeting. The auditor's fee shall be paid upon approval of their invoice.

The Meeting approved the Nomination Committee's proposal not to change the principles adopted at the Annual General Meeting in 2017.

The Meeting resolved in accordance with the proposal of the Board of Directors on an incentive programme for senior management and certain key employees through issuance of warrants entitling to subscription of new shares of class A in the Company. Under the resolution, the Company may issue a maximum of 750,000 warrants. The warrants may, with deviation from the shareholders' preferential rights, only be subscribed for by the subsidiary Maha Energy Inc., after which Maha Energy Inc. is to transfer the warrants to the participants under the programme. Each warrant entitles to subscription for one new A-share in the Company during the period from and including May 1, 2021 up to and including November 31, 2021. The subscription price shall be equal to 100 percent of the volume weighted average last closing price for the Company's share on Nasdaq First North during the period from and including May 24, 2018 until and including May 29, 2018. The increase of the Company's share capital will, upon exercise of the warrants, amount to not more than SEK 8,250.

The Meeting resolved to authorize the Board of Directors to – for the period up to the next Annual General Meeting and at one or more occasions – resolve upon issuance of new shares, warrants and/or convertible debentures. Payment may be made in cash, in kind, through set-off of claims or otherwise be conditional. The Company's share capital may be by support of the authorization be increased by an amount corresponding to 10 percent of the share capital and number of shares in the Company as of on the date the Board of Directors make use of the authorization. Deviation from the shareholders' preferential rights shall be allowed in situations where a directed issue is deemed more appropriate for the Company due to timing, commercial or similar reasons, and in order to enable acquisitions.

For more information please visitwww.mahaenergy.ca or contact:                       
Jonas Lindvall (CEO)
Tel: +1 403 454 7560                  
Email: jonas@mahaenergy.ca

Or

Ron Panchuk (COO)
Tel: +1 403 454 7560                  
Email: ron@mahaenergy.ca

Miscellaneous
This information is such that Maha Energy AB must disclose in accordance with First North Rulebook. The information was submitted for publication through the agency of the contact persons set out above on May 30, 2018, at 6:30 p.m. CET.

Maha in Brief

Maha Energy AB is a Swedish public limited liability company. FNCA Sweden AB has been engaged as Certified Adviser. The Company's auditors are Deloitte. The Company's predecessor Maha Energy Inc. was founded in 2013 in Calgary, Canada, by Jonas Lindvall and Ron Panchuk. In May 2016, the new group was formed with Maha Energy AB as parent company for purposes completing an initial public offering on the Nasdaq First North stock exchange. Maha's strategy is to target and develop underperforming hydrocarbon assets on global basis. The Company operates three oil fields, Tartaruga and Tie Field in Brazil and LAK Ranch, in Wyoming, U.S. For more information, please visit our website www.mahaenergy.ca.

Maha Press Release AGM 2018 (SWE)
Maha Press Release AGM 2018 (ENG)

—
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Maha Energy AB via Globenewswire

Maha Press Release AGM 2018 (SWE)
Maha Press Release AGM 2018 (ENG)

Maha Energy AB: Nomination Committee for the AGM 2018

on Share

Maha Energy AB (publ)
Biblioteksgatan 1
SE-111 46 Stockholm
www.mahaenergy.ca

Press release
Stockholm
November 30, 2017         
                                                                                            
Maha Energy AB (publ) ("Maha" or the "Company") Nomination Committee for the AGM 2018

In accordance with the resolution at the Annual General Meeting ("AGM") of Maha Energy AB on June 16, 2017, it was resolved that a Nomination Committee shall be appointed. The Nomination Committee shall comprise of the Chairman of the Board of Directors and three members appointed by the three largest shareholders by votes at the end of September each year.

On September 30, 2017, the three largest shareholders, which desired to appoint a representative to the Nomination Committee, were Kvalitena AB, Nerthus Investments Ltd. and Jonas Lindvall. Each such shareholder has appointed a representative, as shown below, who together with the Chairman of the Board of Directors will form the Company's Nomination Committee.

The Nomination Committee's members are:

  • Harald Pousette, appointed by Kvalitena AB
  • Håkan Ehrenblad, appointed by Nerthus Investments Ltd.
  • John Patrik Lindvall, appointed by Jonas Lindvall
  • Wayne Thompson, Chairman of the Company's Board of Directors

The tasks of the Nomination Committee shall be to prepare and submit to the AGM 2018 proposals in respect of:

  • Number of members of the Board of Directors
  • Remuneration to the Chairman of the Board of Directors, the other members of the Board of Directors and the auditors respectively
  • Remuneration, if any, for committee work
  • The composition of the Board of Directors
  • The Chairman of the Board of Directors
  • Resolution regarding the process of the Nomination Committee 2018
  • Chairman at the AGM
  • Election of auditors

The AGM 2018 is planned to be held in Stockholm, Sweden on May 30, 2018.

Shareholders who would like to submit proposals to the Nomination Committee can do so via e-mail to nomcom@mahaenergy.ca marked "Proposal to the Nomination Committee" or by ordinary mail to the address:

Maha Energy AB
Nomination Committee
Biblioteksgatam 1 4tr
111 46 Stockholm
Sweden

To ensure that the proposals can be considered by the Nomination Committee, proposals shall be submitted in due time before the AGM 2018, but not later than February 28, 2018.

For more information, please contact:

Jonas Lindvall (CEO)
Tel: +1 403 454 7560        
Email: jonas@mahaenergy.ca

or

Ron Panchuk (CCO)
Tel: +1 403 454 7560        
Email: ron@mahaenergy.ca

Miscellaneous

The information was submitted for publication through the agency of the contact persons set out above on November 30, 2017 at 7:30 pm CET.

Maha in Brief

Maha Energy AB is a Swedish public limited liability company. FNCA Sweden AB has been engaged as Certified Adviser. The Company's auditors are Deloitte. The Company's predecessor Maha Energy Inc. was founded in 2013 in Calgary, Canada, by Jonas Lindvall and Ron Panchuk. In May 2016, the new group was formed with Maha Energy AB as parent company for purposes completing an initial public offering on the Nasdaq First North Sweden stock exchange. Jonas Lindvall, CEO and Managing Director, has 26 years of international experience in the oil and gas industry, starting his career with Lundin Oil during the early days of E&P growth.  After 6 years at Shell and Talisman, Jonas joined, and helped secure the success of, Tethys Oil AB. Maha's strategy is to target and develop underperforming hydrocarbon assets on global basis. The Company operates three oil fields, Tartaruga and Tie in Brazil and LAK Ranch, in Wyoming, U.S. For more information, please visit our website www.mahaenergy.ca.

Press Release – Nomination Committee

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Source: Maha Energy AB via Globenewswire

Press Release - Nomination Committee