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DVA - SoftOx Solutions AS: Minutes from the General Meeting - Attachment: SoftOx Solutions AS - Minutes from General Meeting 27 June 2025.pdf

Company: SoftOx Solutions AS Date: 2025-06-27 Language: English Register to download
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## **MINUTES FROM GENERAL MEETING**

# **SOFTOX SOLUTIONS AS**

# **(enterprise No. 998 516 390)**

On 27 June 2025, at 10 am, the Annual General Meeting was held in SoftOx Solutions AS (the "company"). The meeting was held as an electronic meeting.

Registration of attending shareholders and proxies is set out in Appendix 1. Pursuant thereto, 983 996 919 shares were represented at the meeting, equivalent to approx 43,9 % of the total number of outstanding shares.

The following items were on the agenda:

# **Item 1 - Election of Chairman of the Annual General Meeting and Co-signatory to the Minutes**

The general meeting made the following unanimous resolution:

"*The general meeting elects Chairman of the Board, Ulrik Spork, to chair the meeting. The Company's CFO, Ingrid Juven, is elected to co-sign the minutes together with the chair of the meeting."*

## **Item 2 - Approval of Notice and Agenda**

The general meeting made the following unanimous resolution:

"*The notice and the agenda are approved."*

# **Item 3 - Approval of the Annual Accounts and Annual Report for the Financial Year 2024**

The Company's annual report for the financial year 2024, is available on the Company's website [www.soft-ox.com.](https://www.soft-ox.com/)

The general meeting made the following unanimous resolution:

"*The general meeting approves the annual accounts and annual report for the financial year 2024.*"

## **Item 4 – Approval of the Remuneration to the Auditor**

Accrued fees to the auditor for 2024 amount to NOK 385 730 for the SoftOx Solutions AS, whereof NOK 179 230 was related to the statutory audit.

The general meeting made the following unanimous resolution:

"*Remuneration to the auditor of NOK 179 230 for statutory* 

*audit is approved."*

## **Item 5 – Election of Board of Directors**

The general meeting makes the following resolution:

"The following persons are re-elected as board members:

− Ulrik Spork (Chair)

- − Christian Vinding Thomsen (Vice Chair)
- − Adrian Bignami (Board Member)

with an election term until the annual general meeting in 2026."

"The following person will be elected as board member:

- Tore Duvold (Board Member)
- With an election until the annual general meeting in 2026."

## **Item 6 - Determination of Remuneration to the Board Members**

The general meeting made the following unanimous resolution:

*"Remuneration for the board members for the period from the General Assembly 2025 to the General Assembly 2026 equals a yearly remuneration of NOK 125.000 (Board Members), NOK 320.000 (Vice Chair) and NOK 500.000 (Chair).*

*The remuneration payable to board members that resign in the period shall be adjusted to reflect the months in office."*

## **Item 7 – Election of Nominee Comittee**

The general meeting makes the following resolution:

"The following persons are re-elected as member of the Nomination Committe:

- − Kristian Almås
- − Bjørn Larsen

with an election term until the annual general meeting in 2026."

## **Item 8 – Board Authorization to Increase the Share Capital**

### **Styrefullmakt til kapitalforhøyelse**

Styret foreslår at generalforsamlingen gir styret en ny fullmakt til kapitalforhøyelse som beskrevet under.

Styret arbeider aktivt med å sikre ny finansiering for selskapet og ønsker å ha nødvendig handlingsrom for å kunne gjennomføre rettede emisjoner mot potensielle investorer.

En styrefullmakt vil gi selskapet et verktøy for effektiv gjennomføring av investeringer dersom en finansieringsavtale kommer på plass.

For å gi selskapet tilstrekkelig fleksibilitet, foreslås det at styret får fullmakt til å fravike eksisterende aksjonærers fortrinnsrett til å tegne aksjer, jf. aksjeloven § 10-4. Begrunnelsen for forslaget er at det er ønskelig at styret har frihet til å effektivt foreta rettede emisjoner mot andre selskaper eller personer for å sikre finansiering til selskapet.

#### **Board Authorization to Increase the Share Capital**

The Board of Directors proposes that the general meeting grants the Board a new authorization for a capital increase as described below.

The Board is actively working to secure new financing for the company and seeks the necessary flexibility to conduct private placements with potential investors.

A board authorization will provide the company with a tool for the efficient execution of investments if a financing agreement is established.

To provide the company with sufficient flexibility, it is proposed that the Board be authorized to deviate from existing shareholders' preferential rights to subscribe for shares, in accordance with Section 10-4 of the Companies Act. The rationale for this proposal is the desire for the Board to have the freedom to efficiently carry out private placements with other

Generalforsamlingen fattet følgende beslutning:

companies or individuals to secure financing for the company.

The general meeting made the following unanimous resolution:

- 1. Styret er, i henhold til aksjeloven § 10-14 (1), gitt fullmakt til å øke selskapets aksjekapital i en eller flere omganger med inntil NOK 21.956.086,54.
- 2. Denne fullmakten trer i kraft fra registreringsdatoen i Foretaksregisteret og forblir gyldig frem til den ordinære generalforsamlingen som skal holdes i 2027, men senest 30. juni 2027.
- 3. Aksjonærenes fortrinnsrett i henhold til aksjeloven § 10-4 kan fravikes.
- 4. Fullmakten dekker kapitalforhøyelser mot innskudd i kontanter og innskudd som ikke er i kontanter (inkludert ved konvertering av gjeld, jf. aksjeloven § 10-2).
- 5. Denne fullmakten dekker ikke økning av aksjekapital gjennom fusjoner i henhold til aksjeloven § 13-5.
- 6. Denne fullmakten erstatter alle tidligere fullmakter gitt til styret for utstedelse av aksjer, som vedtatt av tidligere generalforsamlinger.

1. The board of directors is authorized, pursuant to the Private Limited Companies Act section 10-14 (1), to increase the Company's share capital in one or more rounds by up to NOK 21.956.086,54.

2. This authorization is effective from the date of registration in the Norwegian Register of Business Enterprises and remains valid until the annual general meeting to be held in 2027, but no later than the 30th of June 2027.

3. The pre-emptive rights of the shareholders under section 10-4 of the Private Limited Companies Act may be set aside.

4.The authority covers capital increases against contributions in cash and contributions other than in cash (including by way of conversion of debt, cf. section 10-2 of the Private Limited Companies Act). 5.This authority does not cover an increase of share capital through mergers in accordance with section 13-5 of the Private Limited Companies Act.

6.This authorization supersedes all previous authorizations granted to the board to issue shares, as resolved by earlier general meetings."

The necessity for financing flexibility further substantiates the proposed deviation from the shareholders' preferential right to subscribe for shares.

The Board of Directors is not aware of any circumstances of substantial importance relating to the issuance of this authorization beyond the information stated above and information previously communicated to the market.

## **Item 9 – Resolution to issue stand-alone subscription rights to employees and board members**

With reference to the EGM 12 September 2024 where the Board is given authority to give warrants or options to employees for the acquisition of shares, limited at all times to 10% of the company's registered share capital the Board of Directors propose to the General Meeting to approve the issue of standalone subscription rights to the following:

|                                                |               | Total allocation |             |           |               |                 |         |            |         |
|------------------------------------------------|---------------|------------------|-------------|-----------|---------------|-----------------|---------|------------|---------|
|                                                |               |                  |             |           |               |                 |         |            |         |
|                                                |               |                  |             | Upfront   | Upfront Grant |                 |         |            |         |
|                                                |               | % of total       | Number of   | Grant (%) | # (Strike     | Vesting options | Vesting | Annual     | Accel.  |
| Name                                           | ittle         | issued equity    | warrants    | of total  | 0,052 (*))    | (Strike 0,079)  | (years) | vesting #  | Vesting |
| Medical Consulting Aps (Thomas Bjarnsholt) CEO |               | 1,00 %           | 22 404 170  | 25 %      | 5601 042      | 16 803 127      | 3       | 5 601 042  | ves     |
| Bonica AS (Ingrid Juven)                       | CFO           | 1,00 %           | 22 404 170  | 25 %      | 5601 042      | 16 803 127      | 3       | 5 601 042  | ves     |
| Ulrik Spork                                    | CBO           | 3,00 %           | 67 212 510  | 33 %      | 22 180 128    | 45 032 382      | 3       | 15 010 794 | ves     |
| Christian V Thomsen                            | VCBO          | 1,50 %           | 33 606 255  | 25 %      | 8 401 564     | 25 204 691      | 3       | 8 401 564  | ves     |
| Andrian Bignami                                | Board member  | 0,50 %           | 11 202 085  | 25 %      | 2 800 521     | 8 401 564       | 3       | 2 800 521  | ves     |
| TBD]                                           | Board member  | 0,50 %           | 11 202 085  | 0%        |               | 11 202 085      | 3       | 3 734 028  | ves     |
| ESOP (allocated by BoD)                        | Key employees | 1,25 %           | 28 005 212  | 0 %       |               | 28 005 212      | 3       | 9 335 071  | ves     |
|                                                |               | 8,75 %           | 196 036 487 |           | 44 584 298    | 151 452 189     |         | 50 484 063 |         |
|                                                |               |                  |             |           |               |                 |         |            |         |
| * Average 10 days VWAP 12.09.24 and 12.06.25   |               |                  |             |           |               |                 |         |            |         |
| ** 10 davs VWAP 12.06.2025                     |               |                  |             |           |               |                 |         |            |         |

The subscription rights are granted in connection with the option program, and consequently, existing shareholders' preferential rights to subscribe to the subscription rights are waived, in accordance with Section 11-13 of the Companies Act.

The general meeting makes the following resolution:

## **Fullmakt til å utstede tegningsretter til ansatte og styremedlemmer**

- 1. Selskapet utsteder 196 036 487 tegningsretter i henhold til aksjeloven § 11- 12. Hver tegningsrett gir rett til å tegne én aksje i selskapet.
- 2. Tegningsrettene kan kun tegnes av de ansatte og styremedlemmene som er nevnt ovenfor, eller, hvis relevant, deres heleide private selskap (heretter kalt "**Tegneren**"). Aksjonærenes fortrinnsrett settes følgelig til side i henhold til aksjeloven § 11-13.
- 3. Tegneren skal erverve tegningsrettene gjennom en separat avtale hvor de spesifikke vilkårene vil bli fastsatt, senest på datoen for generalforsamlingen.
- 4. Tegningsrettene utstedes uten vederlag til selskapet.
- 5. Tegningsrettene kan kun benyttes fra registreringsdatoen og innen 5 år etter datoen for generalforsamlingen (heretter kalt "**Utøvelsesperioden**"). Etter utøvelsesperioden skal ubenyttede tegningsretter automatisk bortfalle uten kompensasjon.
- 6. Det er ikke et krav at alle tegningsretter benyttes samtidig.
- 7. Vederlaget som skal betales for hver aksje skal være NOK 0,052 per aksje for "upfront grant" og NOK 0,079 for "vesting options"
- 8. De nye aksjene skal ha rett til utbytte fra den dato kapitaløkningen er registrert i Foretaksregisteret.
- 9. Selskapets beslutninger om å øke eller redusere aksjekapitalen, eller en ny

## **Resolution to issue stand-alone subscription rights to employees and board members**

- 1. The Company issues 196 036 487 warrants pursuant to section 11-12 of the Companies Act. Each warrant is exercisable for the subscription of one share in the Company.
- 2. The warrants may only be subscribed to by the employees and directors set out above or, if relevant, their wholly owned private company (the "**Subscriber**"). Accordingly, the shareholders' preferential rights pursuant to section 11-13 of the Act are set aside.
- 3. The Subscriber shall acquire the warrants through a separate agreement where the specific terms will be determined, no later than the date of this resolution.
- 4. The warrants are issued without consideration to the Company.
- 5. The warrants may only be exercised from the date of registration and within 5 years following the date the general meeting (the "Exercise Period"). After the Exercise Period, unexercised warrants shall automatically lapse without compensation
- 6. It is not a requirement that all warrants be exercised simultaneously.
- 7. The consideration payable for each share shall be NOK 0,052 per share for "upfront grant" and NOK 0,079 for "vesting options"
- 8. The new shares shall have rights to dividends from the date on which the capital increase has been registered with the Register of Business Enterprises.
- 9. The Company's decisions to increase or decrease the share capital, or a new decision

beslutning om å utstede tegningsretter, skal ikke påvirke tegningsrettene.

- 10. Tegningsrettene gir ikke Tegneren noen fortrinnsrett til tegningsretter eller andre egenkapital- eller gjeldsinstrumenter utstedt av selskapet.
- 11. Ved aksjesplitt eller konsolidering skal antall tegningsretter justeres tilsvarende.
- 12. Hvis selskapet blir oppløst, fusjonert, fisjonert eller transformert, skal eventuelle ubenyttede tegningsretter opphøre og kan ikke benyttes.

to issue subscription rights, shall not affect the Subscription Rights.

- 10. The Subscription Rights do not grant the Subscriber any preferential rights to shares, subscription rights, or other equity or debt instruments issued by the Company.
- 11. In case of a share split or consolidation, the number of warrants shall be adjusted accordingly.
- 12. If the Company is subject to dissolution, merger or demerger or transformed, any unexercised warrants shall cease and cannot be exercised.

The general meeting made the following unanimous resolution:

*"According to the General Assembly's unanimous resolution of the 12th of September 2024 in SoftOx Solution AS, the General Assembly acknowledge the warrant holders right to subscribe shares according to the above listed warrants rights for key management and board members, with a total of 196 036 487 warrants."*

# **Item 10 – Board authorization to buy own shares**

The board is actively working to secure new financing for the company and wishes to have sufficient room to maneuver to be able to carry out private placements to potential investors. It is desirable that the company has the flexibility to acquire its own shares in connection with a possible financing agreement.

The general meeting made the following unanimous resolution:

- (1) Styret gis fullmakt til erverv av egne aksjer, i medhold av bestemmelsene i aksjeloven kapittel 9.
- (2) Fullmakten gir adgang til å erverve aksjer i en fullmaktsperiode på to år fra generalforsamlingens beslutning.
- (3) Fullmakten gir rett til å erverve egne aksjer med samlet pålydende inntil NOK 4 480 834. Det høyeste beløp som kan betales pr. aksje er NOK 1. Det laveste beløp som kan betales pr. aksje er NOK 0,02
- (4) Fullmakten begrenses til erverv og avhendelse i medhold av finansieringsavtaler med investorer.

## **Fullmakt til erverv av egne aksjer Authorization to acquire own shares**

Generalforsamlingen traff følgende beslutning: The general meeting passed the following resolution:

- (1) The general meeting authorizes the board to acquire own shares, pursuant to the provisions in chapter 9 in the Companies Act
- (2) The authorization grant permission to acquire shares during an authorization period of two years from the general meeting's decision.
- (3) The authorization gives the right to acquire own shares with a total nominal value of up to NOK 4 480 834. The highest amount that can be paid per share is NOK 1. The lowest amount that can be paid per share is NOK 0,02.
- (4) The authorization is limited to acquisition and disposal pursuant to financing agreements with investors.

As there were no further items on the agenda, the meeting was adjourned.

\*\*\*

SIGN SIGN

Ulrik Spork Møteleder

Ingrid Juven Medundertegner/co-signe

## **Liste over vedlegg / List of Appendixes**

| Vedlegg / | Sak / Item | Innhold / Content                                                                       |
|-----------|------------|-----------------------------------------------------------------------------------------|
| Appendix  |            |                                                                                         |
| 1         | 0          | Fortegnelse over aksjeeiere og fullmektiger som deltok i behandlingen / Registration of |
|           |            | attending shareholders and proxies                                                      |

## Vedlegg 1

# **Shareholders present and proxies**

Shareholders represented with proxies to COB Ulrik Spork:

- Pro AS, 322 705 407 shares
- Almhaug Bolig AS, 194,150,064 shares
- JG Invest, 96 975 977 shares
- Aubert Invest AS, 93 748 845 shares
- Per Valstorp, 49 285 714 shares
- Spork Holding Aps, 49 285 714 shares
- ABACH Aps, 34 285 714 shares
- Sporcon Lifescience Advisors Aps, 30 714 285 shares
- Charlott Pinholt, 12 799 938 shares
- Idland, 295 000 shares
- Jørgensen, 200 250 shares

# Shareholder present:

- Bonica AS, 85 178 282 shares
- Medical Consulting Thomas Bjarnsholdt Aps, 11 470 574 shares
- Anfinsen, 2 700 000 shares
- Sundgodt, 201 155 shares

983 996 919 of 2,240,416,994 shares were represented at the meeting (43,9 % of the shareholders).