Corporate Governance

Articles of Association

The following text is only available in Swedish at the moment.

För Artificial Solutions International AB org.nr. 556840-2076
Bolagsordning antagen på årsstämman den 30 maj 2022.

§ 1 FIRMA
Bolagets firma är Artificial Solutions International AB. Bolaget är publikt (publ).

§ 2 STYRELSENS SÄTE
Bolagets styrelse ska ha sitt säte i Stockholms kommun.

§ 3 VERKSAMHET
Bolaget ska, direkt eller indirekt, bedriva verksamhet, för att företrädesvis utveckla och marknadsföra och försälja produkter och tjänster inom mjukvarusektorn och inom IT, samt äga och förvalta värdepapper samt bedriva därmed förenlig verksamhet.

§ 4 AKTIEKAPITAL
Aktiekapitalet ska vara lägst 100 000 000 kronor och högst 400 000 000 kronor.

§ 5 ANTAL AKTIER
Antalet aktier ska vara lägst 6 500 000 och högst 26 000 000.

§ 6 STYRELSE
Styrelsen ska bestå av lägst tre (3) och högst sju (7) ledamöter med högst tre (3) suppleanter.

§ 7 REVISORER
För granskning av bolagets årsredovisning jämte räkenskaperna samt styrelsens och verkställande direktörens förvaltning utses en (1) till två (2) revisorer med eller utan revisorssuppleanter eller ett (1) eller två (2) registrerade revisionsbolag.

§ 8 KALLELSE TILL BOLAGSSTÄMMA
Kallelse till bolagsstämma ska ske genom annonsering i Post och Inrikes Tidningar samt genom att kallelsen hålls tillgänglig på bolagets webbplats. Att kallelse har skett ska annonseras i Svenska Dagbladet.
Aktieägare som vill delta i en bolagsstämma ska dels vara upptagen i utskrift eller annan framställning av hela aktieboken på sätt som föreskrivs i aktiebolagslagen, dels göra anmälan till bolaget senast den dag som anges i kallelsen till bolagsstämman. Sistnämnda dag får inte vara en söndag, annan allmän helgdag, lördag, midsommarafton, julafton eller nyårsafton och får inte infalla tidigare än femte vardagen före bolagsstämman.

Kallelse till årsstämma samt kallelse till extra bolagsstämma där fråga om ändring av bolagsordningen kommer att behandlas ska ske tidigast sex veckor och senast fyra veckor före stämman. Kallelse till annan extra bolagsstämma ska utfärdas tidigast sex veckor och senast två veckor före stämman.

§ 9 ÅRSSTÄMMA
På årsstämma ska följande ärenden förekomma till behandling:
1. val av ordförande för stämman;
2. upprättande och godkännande av röstlängd;
3. val av en eller två justeringsmän;
4. prövning av om stämman blivit behörigen sammankallad;
5. godkännande av dagordning;
6. framläggande av årsredovisning samt revisionsberättelse, koncernredovisning och koncernrevisionsberättelse;
7. beslut
a) om fastställande av resultat- och balansräkning samt i
förekommande fall koncernresultat- och balansräkning;
b) om dispositioner beträffande bolagets vinst eller förlust
enligt den fastställda balansräkningen;
c) om ansvarsfrihet åt styrelseledamöter och verkställande
direktör när sådan förekommer;
8. bestämmande av antalet styrelseledamöter och styrelsesuppleanter samt, i förekommande fall, antalet revisorer och revisorssuppleanter, alternativt registrerade revisionsbolag.
9. fastställande av arvode åt styrelsen samt revisorer;
10. val av styrelse, styrelseordförande och val av revisorer samt eventuella suppleanter;
11. fastställande av princip för val av valberedning; och
12. annat ärende som ankommer på stämman enligt aktiebolagslagen eller bolagsordningen.

§ 10 RÄKENSKAPSÅR
Bolagets räkenskapsår ska vara 1/1–31/12.

§ 11 AVSTÄMNINGSFÖRBEHÅLL
Bolagets aktier ska vara registrerade i ett avstämningsregister enligt lagen (1998:1479) om värdepapperscentraler och kontoföring av finansiella instrument.

§ 12 POSTRÖSTNING
Styrelsen får inför en bolagsstämma besluta att aktieägare ska kunna utöva sin poströst per post före bolagsstämman.

According to the Swedish Companies Act (2005: 551), the Annual General Meeting (AGM) is the Company’s highest decision-making body. At the AGM, the shareholders exercise their voting rights in key issues, including the adoption of income statements and balance sheets, disposition of the Company’s results, granting discharge from liability for the Board members and the CEO, election of Board members and auditors, and remuneration to the Board and the auditors.

Artificial Solutions AGMs are held in the municipality of Stockholm every calendar year before the end of June. In addition to the AGM, extraordinary general meetings may be convened. According to the Articles of Association, a notice convening an AGM shall be made by announcement in Post- och Inrikes Tidningar and by keeping the notice available on the Company’s website. At the same time, it shall be announced in Svenska Dagbladet that a notice convening the AGM has been issued.

Right to participate in a general meeting

Shareholders who wish to attend a general meeting must be included in the share register kept by Euroclear Sweden six banking days before the meeting, and notify the Company of its intention to attend the general meeting no later than the date stated in the notice of the meeting. Shareholders may attend general meetings in person or by proxy and may also be assisted by a maximum of two persons. Usually it is possible for shareholders to register for the general meeting in several different ways, which are specified in the notice to the meeting. Shareholders are entitled to vote for all shares held by the shareholder in the Company.

Shareholders’ right of initiative

Shareholders who wish to have a matter dealt with at the General Meeting must send a written request to the Board. Such request should normally be submitted to the Board no later than seven weeks before the AGM.

Legislation and Articles of Association

Artificial Solutions International AB was established in Sweden and is a public limited liability company governed by Swedish law, primarily through the Swedish Companies Act (2005:551). In addition, the Company will apply the rules and recommendations associated with the listing of the Company’s share on Nasdaq First North. In addition to legislation including regulations and recommendations, the Articles of Association forms the basis for the governance of the Company’s operations. The Articles of Association states, among other things, the location of the Board’s registered office, business description, limits on share capital and the number of shares as well as requirements for attending to the General Meeting. The Articles of Association appear in its entirety in the section “Articles of Association”.

Extraordinary General Meeting in Artificial Solutions International AB (PUBL), 30 JAN 2023

Shareholders of Artificial Solutions International AB are hereby invited to an Extraordinary General Meeting on 30 January 2023 at 10:00 at the company’s premises on Klarabergsviadukten 63, 111 64 Stockholm.

Right to participate and notice of participation

A shareholder who wishes to participate in the Extraordinary General Meeting must (i) be recorded in the share register maintained by Euroclear Sweden AB relating to the circumstances on 20 January 2023 and (ii) no later than 24 January 2023 give notice by post to Artificial Solutions International AB, ”Extraordinary General Meeting”, att. Fredrik Törgren, Klarabergsviadukten 63, 111 64 Stockholm or by e-mail to fredrik.torgren@artificial-solutions.com. When providing such notice, the shareholder should set forth the name, address, telephone number (daytime), personal/corporate identity number, the number of shares held and, when applicable, information about representatives and assistants.

If a shareholder is represented by proxy, a written, dated proxy for the representative must be issued, should the right to vote for the shares be divided among different representatives, the representatives, together with information on the number of shares each representative is entitled to vote for. A proxy form is available on the company’s webpage, www.investors.artificial-solutions.com. If the proxy is issued by a legal entity, a certificate of registration or equivalent certificate of authority should be enclosed. To facilitate the registration at the general meeting, the proxy and the certificate of registration or equivalent certificate of authority should be sent to the company as set out above so that it is received no later than 24 January 2023.

Nominee-registered shares

A shareholder whose shares are held with a nominee must, through the nominee, register its shares in its own name so that the shareholder is registered in the share register kept by Euroclear Sweden AB as of 20 January 2023 to be entitled to participate in the Extraordinary General Meeting. Such registration may be temporary (so called voting right registration). A shareholder who wishes to register its shares in its own name must, in accordance with the nominee’s procedures, request that the nominee carries out such voting right registration. Voting right registrations completed no later than 24 January 2023 are taken into account when preparing the meeting’s register of shareholders.

Shareholders’ right to request information

Shareholders are reminded of their right to request information in accordance with Chapter 7, Section 32 of the Swedish Companies Act (Sw. aktiebolagslagen).

Use of personal data

For information regarding the processing of your personal data, please refer to the privacy policies of Euroclear, available on their website: www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf.

Documents

Previous Meetings

Annual General Meeting, 26 June 2018

Extraordinary General Meeting, 16 July 2018

Annual General Meeting, 11 May 2018

Extraordinary General Meeting, 30 November 2017

Extraordinary General Meeting, 24 August 2017

Annual General Meeting, 8 June 2017

Extraordinary General Meeting, 8 February 2017

Extraordinary General Meeting, 2 November 2016

Annual General Meeting, 29 June 2016

Extraordinary General Meeting, 6 May 2016

Extraordinary General Meeting, 18 December 2015

Annual General Meeting, 24 June 2015

Extraordinary General Meeting, 13 February 2014

Extraordinary General Meeting, 21 July 2022

Swedish Code of Corporate Governance

The Swedish Code of Corporate Governance (the “Code”) shall be applied by companies whose shares are admitted to trading on a regulated market. The code does not currently have to be applied by companies whose shares are listed on Nasdaq First North. It is therefore not binding on Artificial Solutions, but is an important part of the Company’s guidelines for corporate governance. If the Code becomes binding for Artificial Solutions, the Company will apply it.

Nominations Committee

At the AGM on February 28, 2019, it was decided to adopt principles for the appointment of the Nomination Committee. The following principles apply to the appointment of the Nomination Committee. The Chairman of the Board was instructed to contact the three largest shareholders or the groups of owners in terms of voting rights (herewith referred to both direct registered shareholders and nominee-registered shareholders) in the Company, according to Euroclear Sweden’s transcript of the share register as of September 30, 2019, and urge them to appoint a representative each to, together with the Chairman of the Board, constitute the Nomination Committee for the time until the new nomination committee has been appointed according to the mandate from the next AGM. If one of the three largest shareholders or owner groups does not wish to appoint a representative, the fourth largest shareholder or the owner group should be asked and so on, until the Nomination Committee consists of three members and the Chairman of the Board.

Information about the names of the members of the Nomination Committee must be submitted no later than six months prior the AGM 2020 on the Company’s website as soon as possible after the Nomination Committee has been constituted. If owners, who are represented on the Nomination Committee, no longer belong to the three largest shareholders after the announcement, their representative shall make their place available and such shareholders belonging to the three largest shareholders shall instead be offered a place in the Company’s nomination committee. However, there is no need to consider minor changes. If a member leaves the nomination committee before its work is completed and if the Nomination Committee considers that there is a need to replace this member, the Nomination Committee shall appoint a new member according to the principles above but based on Euroclear Sweden’s printing of the share register as soon as possible after the member left the Nomination Committee. Owners who have appointed a representative in the Nomination Committee have the right to dismiss such a member and appoint a new representative.

The current Nomination Committee is:

  • Åsa Hedin, Chairperson of Artificial Solutions’ Board
  • Andreas Ossmark, Scope
  • Bengt Kileus, AFA Försäkring
  • Henrik Söderberg, C Worldwide

Board Committees

The Swedish Code of Corporate Governance does not currently have to be applied by companies whose shares are listed on Nasdaq First North, and is therefore not binding on Artificial Solutions, however, it is an important part of the Company’s guidelines for corporate governance. In the cases of the Audit Committee and Remuneration Committee, the Board of Directors has made the assessment that committees should be established for both.

The Remuneration Committee consists of Johan Gustavsson, Åsa Hedin and Vesna Lindkvist.

The Audit Committee consists of Åsa Hedin.

Internal Control and Audit

According to the Swedish Companies Act (2005:551), the Board of Directors has the overall responsibility for ensuring that the Company’s organization is designed so that the bookkeeping, the financial management and the Company’s financial conditions in general are monitored in a satisfactory manner. Artificial Solutions’ internal control structure is based on the division of responsibilities between the Board and the Chief Executive Officer (CEO). Regular reporting and auditing of financial outcomes takes place in both the operational units’ management bodies as well as within the board.

According to the Articles of Association of Artificial Solutions, one or two auditors with or without deputy auditors, or one or two registered auditing firms, shall be appointed by the General Meeting. The auditor and deputy auditors, if applicable, are appointed yearly at the Annual General Meeting for the period until the next Annual General Meeting has been held.

The auditor reviews the annual report of Artificial Solutions, and accounting, as well as the administration of the board and the CEO. The current auditor is presented under the ‘Auditors’ tab on this page.

Certified Adviser

Company Name: Erik Penser Bank AB
Address: Apelbergsgatan 27, 103 91 Stockholm
Phone: +46 8 463 83 00
Email: certifiedadviser@penser.se
Web: www.penser.se

Auditors

Grant Thornton Sweden AB has been the Company’s auditor since 2019; it was elected at the Extraordinary General Meeting on January 28, 2019 and was re-elected at the Annual General Meeting 2022, for the period until the end of the AGM 2023. Carl-Johan Regell (born 1963) is the chief auditor. Carl-Johan Regell is an authorized auditor and member of FAR (the industry organization for auditors in Sweden). Grant Thornton Sweden AB’s address is Kungsgatan 57, Box 7623, 103 94 Stockholm.

Öhrlings PricewaterhouseCoopers AB was the Company’s auditor during the period covered by the historical financial information in the Company description up to and including the Extraordinary General Meeting on January 28, 2019. The chief auditor during the period from the Annual General Meeting 2018 until the end of the Extraordinary General Meeting on January 28, 2019 was Nicklas Kullberg. The chief auditor during the period covered by the historical financial information up to and including the Annual General Meeting 2018 was Dick Svensson. Both Nicklas Kullberg and Dick Svensson are authorized auditors and members of FAR (the industry organization for auditors in Sweden).

The reason for the change of auditor was to select the same auditor for the entire Group after the Reverse Acquisition.

Board of Directors

According to the Articles of Association of Artificial Solutions, the Board of Directors shall consist of three to seven members elected by the Annual General Meeting with a maximum of three deputies. The Board currently consists of six ordinary members, including the Chairman of the Board, without deputies, who have been elected for the period until the end of the Annual General Meeting 2020.

In the table below, information is provided about the members of the Board of Directors regarding their position, year of election and whether they are considered independent in relation to the Company and senior executives and in relation to major shareholders.

Name Position Elected on Independent in relation to the company and company management Independent in relation to major shareholders
Åsa Hedin Chairman 2019 Yes Yes
Vesna Lindkvist Board member 2021 Yes Yes
Johan A. Gustavsson Board member 2019 Yes Yes
Fredrik Oweson Board member 2019 Yes No
Paul St. John Board member 2022 Yes Yes

Åsa Hedin, 1962

Chairman of the Board since 2019. Board member since 2019.

Education: Master of Science in Biophysics, University of Minnesota.

Experience: Chair of Tobii Dynavox AB. Board member of C-rad AB, Nolato AB, Cellavision AB, Biotage AB, and Industrifonden. +30 years in leading positions in international med tech and tech companies among others as CEO of Elekta Instrument AB and business unit EVP of Elekta Neuroscience.

Holdings in Artificial Solutions: 7,001 shares, 58,688 warrants 2019/2022 and 37,342 warrants 2020/2025.

Johan A. Gustavsson, 1963

Board member since 2019 (in Artificial Solutions Holding since 2008). Board assignments in Artificial Solutions since 2001. Co-founder of Artificial Solutions.

Education: Master of Science, Stockholm School of Economics.

Experience: Chairman of Aros Bostadsutveckling AB and Vencom Group Holding BV, as well as board memberships related to these assignments. Earlier experiences include Chairman of Hop Lun International Ltd. and Naturkompaniet AB.

Holdings in Artificial Solutions: 198,893 shares, privately and through companies. 34,235 warrants 2019/2022 and 22,406 warrants 2020/2025.

Paul St. John, 1967

Board member since 2022.

Education: Bachelor of Arts in History from Emory University and a Juris Doctor Degree in Criminal Justice
and Correction from DePaul University.

Experience: Vice President Worldwide Sales at Github, Vice President Global Sales at Alfresco and held senior sales executive roles in Riverbed Technology and EMC.

Holdings in Artificial Solutions: No shares; 115,000 warrants 2021/2024:1.

Vesna Lindkvist, 1976

Board member since 2021.

Education: MSc degree in computer engineering from KTH Royal Institute of Technology.

Other ongoing assignments:

Previous assignments (last 5 years) and work experience: CPO/CTO at Kivra and previous experience as a Consultant Manager at Valtech Sweden and as System Director at EF Education First.

Holding in Artificial Solutions: None.

Management Teams

Per Ottosson, 1970

Chief Executive Officer since 2020.

Education: Master in Finance at Stockholm School of Economics.

Experience: Member of the board of a number of Artificial Solutions subsidiaries. 25 years of experience from senior executive positions within the software/SaaS industry, most recently as Global CRO of IPSoft/Amelia.com.

Holdings in Artificial Solutions: 14,387 shares and 200,000 warrants 2021/2024.

Daniel Eriksson, 1976

Chief Innovation & Customer Success Officer since 2020.

Education: Master of Science in Engineering Physics, Royal Institute of Technology. Master in Business and Economics, Stockholm School of Economics.

Experience: 15 years Business Development and Technology Leadership experience with the last 7 years in the automation and conversational AI space.

Holdings in Artificial Solutions: 5,320 shares and 150,000 warrants 2021/2024.

Fredrik Törgren, 1976

Chief Financial Officer since 2020.

Education: Master of Business Administration, Stockholm School of Economics.

Experience: Member of the board of a number of Artificial Solutions subsidiaries. 20 years of experience from senior positions within the technology, M&A, VC and software industries, most recently as Group CFO of PE-backed Inteno Group.

Holdings in Artificial Solutions: 19,000 shares, 100,000 warrants 2019/2024, 60,000 warrants 2020/2025 and 150,000 warrants 2021/2024.

Andreas Wieweg, 1975

Chief Technical Officer since 2010.

Education: University studies in Computer Science & Mathematics, Stockholm University.

Experience: Andreas leads Artificial Solutions’ product strategy, design and development for the company’s next generation natural language interaction platform

Holdings in Artificial Solutions: 4,944 shares, 54,580 warrants 2019/2024, 77,500 warrants 2020/2025 and 150,000 warrants 2021/2024.

Marie Angselius-Schönbeck, 1970

Chief of Impact and Corporate Communications Officer since 2021.

Education: Bachelor's degree in Communications, Lund University.

Experience: 20+ years of experience from leading communication roles. Most recently as Global Head of Corporate Communication at Amelia an IPSoft company and Founding Partner at Angselius Rönn AB.

Holdings in Artificial Solutions: 3,709 shares and 150,000 warrants 2021/2024.