Axactor SE

AGM Information • Jun 4, 2014

NMG: Summary of the Annual General Meeting in Nickel Mountain Group AB conducted today in Stockholm

NMG: Summary of the Annual General Meeting in Nickel Mountain Group AB conducted today in Stockholm

The Annual General Meeting ("AGM") in Nickel Mountain Group AB ("NMG")

was today held in Stockholm. The agenda contained the compulsory items

plus a mandate for the Board of Directors to decide on share issues.

The AGM first adopted the income statements and balance sheets of the

parent company and of the group. The Board's repeated proposal to

distribute as dividend all of the shares of subsidiary African Diamond

AB to the shareholders of NMG was approved by the shareholders.  The

Board of Directors and management appointed on the AGM in August 2013

were discharged from liability. However, the board directors of the

Company active between January 1 - August 2, 2013 were not discharged

from liability in accordance with the recommendation by the Company's

auditor.

A new Board of Directors composed of four ordinary members proposed by

the Company's Nomination Committee was appointed. The Board directors

elected are Rikard Ehnsiö (Chairman), Björn Rohdin, Svein Breivik and

Frank Dinhoff Pedersen. Mr. Erlend Dunér Henriksen was re-elected by the

Shareholders' Meeting as Deputy Board Director.

It was resolved that the remuneration to the board directors would

remain unchanged as compared to 2013, namely the Chairman would be paid

250,000 SEK and each of the other Board directors would receive 150,000

SEK. The auditor, Mr. Johan Kaijser together with his colleague Samuel

Bjälkemo, both from audit firm Mazars Set, were re-elected as main

auditor and deputy auditor by the Annual General Meeting.  The

shareholders approved to remunerate the auditors on current account for

reasonable and approved invoices.

The Annual General Meeting further approved of the instructions for the

new Nomination Committee. The same was the case in terms of the proposed

"guidelines for remuneration to the Managing Director and other Senior

Executives".

Lastly, the present shareholders approved a proposal to give the Board

of Directors authority to decide on issues of shares or other similar

financial instruments with or without observing the shareholders'

preferential rights in accordance with the proposal to the meeting. In

short, the conditions are that the board may resolve on issues of

shares, warrants or convertible debt instruments corresponding to a

maximum dilution of 20% equal to not more than 4,540,468 new shares

Apart from this management gave a short presentation of the status of

the Rönnbäcken Nickel project in North of Sweden, and a legal advisor of

the Company informed on the progress with the legal process regarding

damage compensation in connection with the claim on Alluvial Mining Ltd.

At the AGM there were 13,292,001 shares present and voting representing

some 58.5 per cent of all shares and votes outstanding.

For and on behalf of the Board of Directors of Nickel Mountain Group AB

Torbjorn Ranta

Managing Director

For information, please contact:

Torbjorn Ranta

Managing Director

Tel: +46 8 402 28 00

Mobile: +46 708 855504

E-mail: torbjorn.ranta@nickelmountain.se

Or contact:

Erlend Dunér Henriksen

Deputy board member

Mobile: +47 920 18 950

E-mail: erlend@henriksen.as

Nickel Mountain Group AB (publ) is a Swedish company headquartered in

Stockholm. The Company's shares are listed on the Oslo Stock Exchange

(ticker: NMG). Please refer to www.nickelmountain.se for more detailed

information.

Cautionary Statement: Statements and assumptions made in this document

with respect to Nickel Mountain Group AB's ("NMG") current plans,

estimates, strategies and beliefs, and other statements that are not

historical facts, are forward-looking statements about the future

performance of NMG. Forward-looking statements include, but are not

limited to, those using words such as "may", "might", "seeks",

"expects", "anticipates", "estimates", "believes", "projects", "plans",

strategy", "forecast" and similar expressions. These statements reflect

management's expectations and assumptions in light of currently

available information. They are subject to a number of risks and

uncertainties, including, but not limited to, (i) changes in the

economic, regulatory and political environments in the countries where

NMG operates; (ii) changes relating to the geological information

available in respect of the various projects undertaken; (iii) NMG's

continued ability to secure enough financing to carry on its operations

as a going concern; (iv) the success of its potential joint ventures and

alliances, if any; (v) metal prices, particularly as regards nickel. In

the light of the many risks and uncertainties surrounding any mineral

project at an early stage of its development, the actual results could

differ materially from those presented and forecast in this document.

NMG assumes no unconditional obligation to immediately update any such

statements and/or forecasts.

Torbjörn Ranta

Managing Director

Tel: 46 8 402 28 00

Mobile: 46 708 855504

E-mail: torbjorn.ranta@nickelmountain.se

The vision of Nickel Mountain Group AB is to be an explorer and miner

recognized for our attractive assets and ability to effectively run

projects from exploration to commercialization, leaving a lasting

footprint within the regions we operate through investments, community

engagement and transfer of expertise.