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Regulatory press release

Communique from FundedByMe Crowdfunding Sweden AB (publ) Extra Shareholders meeting July 26, 2019.

Read the release

The assembly decided 

1. To elect Choon Seng Tan alongside Arno Smit to the nominating committee. 
2. To elect Peter Ottoson as board member.
3. To approve the board-decision regarding the rights issue made on April 18 of 2019. The rights issue was performed during April 30 and Maj 17 of 2019. 
4. To give the board the mandate to investigate if a change of class of the A class shares to B shares is favorable. A change of class from A to B shares will not be made at this point. 

The assembly also communicated the boards decision of CEO salary of 50,000Sek per month.

The CEO reports that first 6 months ended well with 21 successful equity crowdfunding rounds. Q1 was very weak for the entire industry and affected FundedByMe and Laika. The market situation for the last 6 months looks more promising. The need for FundedByMes and Laikas services continues to be strong. A consolidation has been performed and the two companies have moved in together into the same offices. The consolidation and move will show considerable decrease in costs moving forward. At end of Q2 the company signed an LOI with the ambition to re-open FBM Singapore under new management and start application for CMS license.

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