Notice of Annual General Meeting in Storytel AB (publ)

The shareholders of Storytel AB (publ), reg. no. 556575-2960, (the “Company“), are hereby convened to the annual general meeting to be held on Wednesday 15 May 2019, at 10:00 at Baker McKenzie’s premises at Vasagatan 7 in Stockholm. The doors to the meeting will open at 09:45.

Right to attend the annual general meeting and notice:

Shareholders wishing to attend the annual general meeting must:

i.         on the record date, which is Thursday 9 May 2019, be registered in the share register maintained by Euroclear Sweden AB. Shareholders, whose shares are registered in the name of a nominee, must temporarily register the shares in their own name at Euroclear Sweden AB. Shareholders whose shares are registered in the name of a nominee must, no later than on Thursday 9 May 2019, via their nominee, temporarily register the shares in their own name in order to be entitled to participate at the general meeting; and

ii.         notify the participation at the general meeting no later than Thursday 9 May 2019. Notice of participation at the general meeting shall be sent by regular mail to AGM 2019, Storytel AB (publ), Attn: Karin Alexandersson Box 24167, 104 51 Stockholm or by e-mail to investorrelations@storytel.com. Upon notification, the shareholder should state their full name, personal identification number or corporate registration number, address and telephone number, and, where applicable, details of representatives, proxy holders and advisors. A shareholder who wishes to be represented by proxy shall issue a written and dated proxy to the proxy holder. If the proxy is issued by a legal entity, a certified copy of the registration certificate or corresponding document (“Registration Certificate“) shall be enclosed. The proxy must not be more than one year old, however, the proxy may be older if it is stated that it is valid for a longer term, maximum five years. The proxy in original and the Registration Certificate, if any, must be available at the general meeting and a copy should well before the meeting be sent to the Company by regular mail to the address set out above, and should, in order to facilitate the entrance to the general meeting, be at the Company’s disposal no later than on 9 May 2019. A form proxy will be available for downloading on the Company´s website www.investors.storytel.com.

Proposed agenda

  1. Opening of the meeting
  2. Election of the chairman of the general meeting
  3. Election of one or two persons to approve the minutes
  4. Preparation and approval of the voting register
  5. Approval of the agenda for the meeting
  6. Determination as to of whether the meeting has been duly convened
  7. Presentation of the annual report and the auditor’s report and the consolidated annual report and auditor’s report in respect thereof
  8. Resolution regarding:
    1. approval of the profit and loss statement and the balance sheet and the consolidated profit and loss statement and consolidated balance sheet,
    2. allocation of the Company’s net income according to the adopted balance sheet; and
    3. discharge from liability of the members of the board of directors and the managing director.
  9. Resolution regarding remuneration to be paid to the directors and to the auditor
  10. Determination of number of directors and deputies and auditors
  11. Election of directors and deputies and auditors
  12. Resolution regarding adoption of principles for the nomination committee
  13. Resolution regarding authorization for the board to issue shares, convertibles and/or warrants
  14. Resolution on (A) employee stock option program and (B) directed issue of warrants as well as approval of transfer of warrants
  15. Closing of the meeting

 

Proposals for resolutions:

Item 2: Election of the chairman of the general meeting

The nomination committee proposes that Joakim Falkner, attorney at law, Baker & McKenzie Advokatbyrå, is appointed as chairman of the general meeting.

Item 8.b: Resolution regarding allocation of profit or loss in accordance with the adopted balance sheet

The Board of Directors proposes that all funds available for the annual general meeting shall be carried forward.

Item 911: Resolution regarding remuneration to be paid to the directors and to the auditor, determination of number of directors and deputies and auditors, election of directors and deputies and auditors

The nomination committee proposes that the board shall consist of seven directors. The nomination committee further proposes that the number of auditors shall be one registered audit firm.

The nomination committee proposes that the remuneration is to be SEK 1,860,000 in total, including remuneration for committee work (SEK 1,000,000 previous year), and shall be paid to the board of directors and the members of the established committees in the following amounts:

  • SEK 200,000 (SEK 175,000) for each of the non-employed directors (Jonas Sjögren, Nils Janse, Morten Strunge, Eva Swartz Grimaldi and Helen Fasth Gillstedt) and SEK 600,000 (SEK 300,000) to the chairman; and
  • SEK 30,000 (SEK 0) for each of the non-employed members of the audit committee and SEK 200,000 (SEK 0) to the chairman of the committee who is not also an employee.

Remuneration to the auditor is to be paid according to approved invoice.

The nomination committee proposes the re-election of Rustan Panday, Jonas Tellander, Jonas Sjögren, Eva Swartz Grimaldi, Morten Strunge and Nils Janse. Furthermore it is proposed to elect Helen Fasth Gillstedt as new director. It is proposed to re-elect Rustan Panday as chairman of the board. The company also have one employee representative in the board, Karin Alexandersson, who is not appointed by the general meeting.

The nomination committee further proposes the re-election of the registered audit firm Ernst & Young Aktiebolag as the company’s auditor for a period up until the end of the next annual general meeting. Ernst & Young Aktiebolag has announced that Alexander Hagberg continues as main responsible auditor.

The nomination committee’s complete proposal and motivated opinion as well as further information regarding the newly proposed director and the directors proposed for re-election is available at the company’s website www.investors.storytel.com and is also available in the annual report for 2018.

Item 12: Resolution regarding adoption of principles for the nomination committee

The nomination committee proposes that the following principles for the nomination committee are adopted (remain unchanged from the last year).

Role of the nomination committee

The Company shall have a nomination committee with the task of preparing and proposing decisions to the annual, and as applicable extra, shareholders’ meetings on electoral and remuneration issues and, where applicable, procedural issues for the appointment of the subsequent nomination committee. The nomination committee is to propose:

  • the chairman of the annual general meeting;
  • candidates for the post of chairman and other directors of the board;
  • directors fees and other remuneration for board assignments to each director;
  • fees to members of committees within the board;
  • election and remuneration of the Company auditor; and
  • principles for the nomination committee.

Members of the nomination committee

The nomination committee, which shall be appointed until a new committee is appointed, shall consist of four members, of whom three shall be nominated by the Company’s three largest shareholders by voting power and the fourth shall be the chairman of the board. The chairman of the board shall as soon as reasonably practicable after the end of the third quarter, in an adequate manner, contact the three owner-registered largest shareholders by voting power, according to the share register maintained by Euroclear Sweden AB at that time and request that they, taken into consideration the circumstances, within reasonable time which cannot exceed 30 days, in writing to the nomination committee nominate that person whom the shareholder wishes to appoint as member of the nomination committee. If any of the three largest shareholders wish not to exercise their right to appoint a member of the nomination committee, the next shareholder in consecutive order shall be entitled to appoint a member of the nomination committee. In the case that several shareholders abstain their right to appoint a member of the nomination committee, the chairman of the board shall not be required to contact more than eight shareholders, unless it is necessary in order to obtain a nomination committee consisting of a minimum of three members.

Unless otherwise agreed between the members, the chairman of the nomination committee shall be nominated by the largest shareholder. A member of the board of directors should never chair the nomination committee.

If a member nominated by a shareholder, during the year ceases to be one of the Company’s three largest shareholders by voting powers, the member nominated by such shareholder shall resign from the nomination committee. Instead, a new shareholder among the three largest shareholders shall be entitled to independently and in its sole discretion appoint a member of the nomination committee. However, no marginal changes in shareholding and no changes in shareholding which occur later than three months prior to the annual general meeting shall lead to a change in the composition of the nomination committee, unless there are exceptional reasons.

If a member of the nomination committee resigns before the nomination committee has completed its assignment, for reasons other than set out above, the shareholder who has nominated such member shall be entitled to independently and in its sole discretion appoint a replacement member. If the chairman of the board resigns from the board, his/her successor shall replace the chairman of the board also on the nomination committee.

A change in the composition of the nomination committee shall be published immediately.

If the nomination committee at any time would consist of less than three members, the nomination committee shall still be authorized to fulfil the tasks set out in these principles.

The nomination committee’s proposal and work and fees

When preparing its proposals, the nomination committee shall take into account that the board of directors is to have a composition appropriate to the Company’s operations, phase of development and other relevant circumstances. The directors shall collectively exhibit diversity and breadth of qualifications, experience and background. The nomination committee shall further strive for equal gender distribution.

The nomination committee shall provide the Company with its proposals for board members in such time that the Company can present the proposals in the notice of the shareholders’ meeting where an election is to take place.

No fee shall be payable by the Company to any member of the nomination committee. The Company shall bear all reasonable costs associated with the work of the nomination committee. Where necessary, the nomination committee may engage external consultants to assist in finding candidates with the relevant experience, and the Company shall bear the costs for such consultants. The Company shall also provide the nomination committee with the human resources needed to support the nomination committee’s work.

These principles for appointment and instructions to the nomination committee shall have effect until any changes are decided by the shareholders’ meeting.

Item 13: Resolution regarding authorization for the board to issue shares, convertibles and/or warrants

The Board of Directors of the Company proposes that the annual general meeting of the shareholders shall resolve to authorize the board, on one or more occasions, with or without preferential rights for shareholders, to issue in total a maximum of, regardless of share class, warrants and/or convertibles, with the right to subscribe and convert to the respective share class in the Company, corresponding to not more than 10 percent of the share capital of the Company after dilution based on the number of shares at the time of the annual general meeting, to be paid in cash, by set-off or in-kind.

The purpose for the board to resolve on issuances with deviation from the shareholders preferential rights in accordance with the above is primarily for the purpose to carry out acquisitions or financing.

Issuances of new shares under the authorization shall be made on customary terms and conditions based on current market conditions. If the Board of Directors finds it suitable in order to enable delivery of shares in connection with a share issuance as set out above it may be made at a subscription price corresponding to the shares quota value.

The Board of Directors or a person appointed by the board of directors shall be authorized to make such minor adjustments in the above resolution that may be required in connection with the registration with the Swedish Companies Registration Office.

Item 14: Resolution on employee stock option program and directed issue of warrants as well as approval of transfer of warrants

The Company operates, through subsidiaries, within two business areas – Streaming and Print Publishing. The business area Streaming includes, in addition to Streaming, also Digital Publishing.

The Board of Directors of the Company proposes that the general meeting of 15 May 2019 resolves to implement an employee stock option program for employees and key consultants in the Company and the subsidiaries operating within the business area Streaming (“Employee Stock Option Program 2019/2022“) in accordance with Section A below.

The purpose of the proposed program is to offer the employees and key consultants in the group active within the business area Streaming an opportunity to take part of a value growth in the Company’s share of series B, which is expected to lead to an increased commitment to the Company’s operation and earnings development, and to raise the motivation and sense of belonging with the Company. Furthermore, it is expected to increase the possibility of recruiting and retaining competent personnel. The Board of Director’s considers that the program may have a positive impact on the Company’s continued development to the benefit of the Company and its shareholders. The subsidiaries in the group operating within the business area Print Publishing currently have a different compensation structure in place.

In order to hedge the Company’s obligations under the Employee Stock Option Program 2019/2022 and hedge the ancillary costs, the Board of Directors also proposes that the general meeting resolves on a directed issue of warrants, as well as an approval of transfer of warrants in accordance with Section B below.

It is the intention of the Board of Directors that the structure for Employee Stock Option Program 2019/2022 should be long-term basis, and the Board of Directors therefore intends, after evaluation of the program, to return with corresponding proposals at the general meetings in the coming years.

A. The Board of Directors’ proposal for implementation of the Employee Stock Option Program 2019/2022

The Board of Directors proposes that the general meeting resolves to implement the Employee Stock Option Program 2019/2022 in accordance with the following substantial guidelines:

The Employee Stock Option Program 2019/2022 shall consist of a maximum of 550,000 stock options.

Each stock option confers the holder a right to acquire one new share of series B in the Company against an exercise price corresponding to 120 per cent of the average volume weighted price for the Company’s share of series B as quoted on Nasdaq First North Growth Markets during the period of ten trading days following the general meeting 2019. The calculated exercise price shall be rounded off to nearest even hundredth of a krona, whereupon 0.005 krona will be rounded up. The exercise price and number of shares that each stock option confers right to acquire may be recalculated in the event of a bonus issue, consolidation or split-up of shares, new issue, etc. wherein the recalculation terms in the complete terms and conditions of the warrants (please refer to B below).

The Employee Stock Option Program 2019/2022 shall be offered to (i) all employees who are employed by the Company and the subsidiaries of the group operating within the business area Streaming as of 1 June 2019, and (ii) key consultants that (personally or through companies) work in the mentioned companies as of the mentioned date and who are appointed by the Board of Directors based on their importance for the group. Employees refers to full-time and part-time employees, including probationary employees but not hourly employees. A person who has entered into an employment agreement with the Company or a subsidiary of the group that operates within the business area Streaming but has not taken up his/her employment as of the mentioned date, shall not be regarded as an employee. An employee who has terminated the employment or has been dismissed by the mentioned date but is still employed, shall not be regarded as an employee. The Company’s CEO shall be offered to participate in the program in the same way as other employees. The number of employees and key consultants that the program shall be offered to is estimated to a maximum 400.

The stock options shall be offered to the employees/key consultants proportionally in relation to their respective annual fixed gross salary/consultancy fees converted to SEK.

Notwithstanding what a calculation as above results in, no employee or key consultant shall be offered more than 7,500 stock options.

Notice of participation in the Stock Option Program 2019/2022 shall be received by the Company on 14 June 2019 at the latest, with a right for the Board of Directors to prolong the time limit. Allotment of stock options to participants shall take place as soon as possible after the expiration of the notification period.

The allotted stock options will be vested over a three-year period in accordance with the following:

(a)      1/3 of the allotted stock options will be vested on 1 June 2020;

(b)     1/3 of the allotted stock options will be vested on 1 June 2021; and

(c)     1/3 of the allotted stock options will be vested on 1 June 2022.

Vesting requires that the participant is still active within the group and that the employment or consultancy agreement has not been terminated as of the date when the respective vesting occur. If a participant ceases to be an employee or consultant or terminates his/her employment with the group or his/her consulting agreement with the group before a vesting date, the already vested stock options may be exercised at the ordinary time for exercise as described below, but further vesting will not take place. If the employee’s employment ceases due to dismissal from the employer’s side or if the consultancy agreement is terminated due to corresponding reasons, however, also vested options will lapse, unless the Board of Directors decides otherwise on a case-by-case basis.

The stock options shall not constitute securities and shall not be able to be transferred or pledged. However, in the event of death, the rights constituted by vested stock options shall accrue to the beneficiaries of the holder of the stock options.

The stock options shall be allotted without consideration.

The holder can exercise allotted and vested stock options during the period from 1 June 2022 to   15 December 2022. The Board of Directors has the right to limit the number of dates for delivery of shares during the exercise period.

Participation in the Employee Stock Option Program 2019/2022 requires that such participation is in accordance with applicable laws, as well as that such participation can be executed with reasonable administrative costs and financial efforts according to the Company’s assessment.

The stock options shall be governed by separate agreements with each participant. The Board of Directors shall be responsible for the preparation and management of the Employee Stock Option Program 2019/2022 within the above mentioned substantial terms. The Board of Directors has the right to, within the framework of the agreement with each participant, make the reasonable changes and adjustments of the terms and conditions of the stock options that are deemed suitable or appropriate as a result of local employment law or tax law or administrative conditions. This may mean, among other things, that continued vesting of stock options may take place in some cases when otherwise would not have been the case. The Board of Directors also has the right to advance vesting and the timing of exercise of stock options in certain cases, such as in the case of a public takeover bid, certain changes in ownership of the Company, liquidation, merger and similar measures. Finally, the Board of Directors has the right to, in extraordinary cases, limit the scope of, or prematurely terminate, the Employee Stock Option Program 2019/2022 in whole or in part.

B. The Board of Director’s proposal for resolution on directed issue of warrants as well as approval of transfer of warrants

In order to enable the Company’s delivery of shares under the Employee Stock Option Program 2019/2022 as well as to hedge ancillary costs, primarily social security contributions, the Board of Directors proposes that the general meeting resolves on a directed issue of warrants of series 2019/2022 as well as an approval of transfer of warrants of series 2019/2022.

The Board of Directors therefore proposes that the general meeting resolves on an issue of a maximum of 687,500 warrants on the following terms:

The warrants shall, with deviation from the shareholders’ preferential rights, only be able to be subscribed for by Storytel Sweden AB, a wholly owned subsidiary of the Company, (the “Subsidiary“). The reason for the deviation from the shareholders’ preferential rights is that the warrants are a part of the implementation of the Employee Stock Option Program 2019/2022.

Subscription shall be made on 31 May 2019 at the latest. The Board of Directors shall be entitled to prolong the subscription period.

The warrants shall be issued without consideration.

The warrants and the utilization of the subscription right are subject to the terms and conditions set forth in the enclosed terms and conditions for the warrants 2019/2022; Exhibit 3A, (the “Warrant Terms and Conditions“). The Warrant Terms and Conditions states among others:

(a)        that each warrant confers right to subscribe for one new share of series B in the Company against cash payment at a subscription price corresponding to 120 per cent of the average volume weighted price for the Company’s share of series B as quoted on Nasdaq First North Growth Markets during the period of ten trading days following the general meeting 2019. The calculated subscription price shall be rounded off to nearest even hundredth of a krona, whereupon 0.005 krona will be rounded up;

(b)        that the subscription price and the number of shares that each warrant confers right to subscribe for may be recalculated in accordance with Clause 8 in the Warrant Terms and Conditions;

(c)        that the subscription right may be utilized during the time period from and including the registration of the warrants with the Swedish Companies Registration Office (Sw. Bolagsverket) to and including 31 December 2022;

(d)        that the time period for when the subscription right may be utilized may be postponed in accordance with Clause 8 in the Warrant Terms and Conditions; and

(e)        that the shares issued upon utilization of warrants shall confer right to dividend in accordance with Clause 7 of the Warrant Terms and Conditions.

The complete terms and conditions for the warrants are available at the Company and will also be published on the Company’s website no later than two weeks before the annual general meeting and include conditions regarding re-calculation, in certain cases, of the subscription price and the number of shares a warrant entitles to.

In case all warrants are utilized for subscription of new shares, the share capital will increase with SEK 343,750 kronor.

The Board of Directors, or anyone appointed by the Board of Directors, shall be authorized to make such minor formal adjustments of the resolution which may be required for registration with the Swedish Companies Registration Office (Sw. Bolagsverket) or, as applicable, Euroclear Sweden AB.

The Board of Directors further proposes that the general meeting resolves to approve that the Subsidiary may transfer warrants to the participants in the Employee Stock Option Program 2019/2022 without consideration in connection with exercise of the stock options in accordance with the terms set out in section A, or in another way dispose of the warrants in order to be able to secure the Company’s commitments and costs in relation to the Employee Stock Option Program 2019/2022. The Board of Directors shall not have the right to dispose of the warrants for any other purpose than to secure the Company’s commitments and costs in connection with the Employee Stock Option Program 2019/2022.

Previous incentive programs and dilution

Per the day of this proposal there are 55,865,307 shares in the Company, whereof 635 shares of series A and 55,864,672 shares of series B. Share of series A entitles to ten votes and share of series B entitles to one vote.

There are no outstanding share related incentive programs in the Company.

In case all warrants issued within the Employee Stock Option Program 2019/2022 (including those for hedge of ancillary costs in the form of social security contributions) are utilized for subscription of new shares, the number of shares and votes in the Company will increase with 687,500 (with reservation for any recalculation in accordance with the Warrant Terms and Conditions), which corresponds to a dilution of approximately 1.22 per cent of the Company’s share capital and votes.

The dilution effect has been calculated as the number of additional shares and votes in relation to the number of existing of shares and votes plus the number of additional shares and votes.

Costs and effects on key figures 

The Board of Directors’ opinion is that the Employee Stock Option Program 2019/2022 will trigger costs in reference party to accounting salary costs and partly to social security contributions.

Based on the assumption that 100 per cent of the options in the Employee Stock Option Program 2019/2022 will be allotted and an annual employee turnover rate of 5 per cent, meaning that 496,810 stock options will vest, the estimated total accounting costs for the options will amount to approximately MSEK 10.5 during the time period 2019-2022, based on the actual value of the options at the time of calculation. The options do not have a market value since they are not transferable. However, the Board of Directors has calculated a theoretical value of the options in accordance with the Black Scholes formula. The calculations have been based on an assumed share price of SEK 108.57 per share, a risk-free interest rate of -0.37 percent and an assumed volatility of 37 percent. In accordance with this valuation, the value of the options in the Employee Stock Option Program 2019/2022 is approximately SEK 21.12 per option. Limitations in the disposal rights have not been taken into consideration in the valuation.

Upon a positive development of the share price, the Employee Stock Option Program 2019/2022 will entail costs in form of social security contributions. The total costs for social security contributions will depend on the number of options that will be vested and on the value of the benefit that the participant finally will receive, i.e. on the value of the options when utilized 2022, but also in which countries the participants are resident and what percentages that apply to social security contributions in these countries. Based on the assumption that 496,810 of the options in the Employee Stock Option Program 2019/2022 will be vested, an assumed share price of SEK 200 when the options are utilized, an assumed distribution between different countries and an assumed average social security rate of approximately   25 per cent, the total costs for social security contributions will amount to approximately MSEK 8.7. The Company’s entire costs for social security contributions are proposed to be hedged through a directed issue of warrants in accordance with Section B above.

The total cost for Employee Stock Option Program 2019/2022 will be distributed over the years 2019-2022. Since 1/3 of the options vest per year, the cost will be distributed more towards the front of the three year term.

Given the above assumptions, and that the program had been introduced in 2017 instead, it is calculated that the key figure earnings per share for full year 2018 would have decreased from SEK -4.02 to SEK – 4.19.

It shall be noted that all calculations above are preliminary and are only intended to provide an illustration of what costs the Employee Stock Option Program 2019/2022 may include. Actual costs may therefore deviate from what has been stated above.

Preparation of the proposal

The proposal for resolution on the implementation of Employee Stock Option Program 2019/2022 and the proposal of resolution on directed issue of warrants of series 2019/2022 as well as approval of transfer of warrants of series 2019/2022 have been prepared by the Board of Directors together with external consultants. It is noted that the CEO, who is also a member of the Board of Directors, has not participated in the Board of Directors’ preparation of the proposal, as he, as an employee, is comprised by the proposal.

Majority requirements

The Board of Directors’ proposal to implement the Employee Stock Option Program 2019/2022 in accordance with item 14 A, as well as the directed issue of warrants and an approval of transfer of warrants in accordance with item 14 B, constitutes an overall proposal, which shall be resolved upon as one resolution. The resolution on the directed issue of warrants and an approval of transfer of warrants is subject to the provisions in Chapter 16 of the Swedish Companies Act, and a valid resolution hence requires that the proposal is supported by shareholders with at least nine-tenths of both the votes cast and the shares represented at the meeting.

A resolution in accordance with item 13 is valid where supported by shareholders representing at least two thirds of the votes cast and the shares represented at the general meeting.

Number of shares and votes

The total number of shares in the Company as of the date hereof amounts to 55,865,942 shares and 55,871,657 votes divided on 635 A shares carrying 6,350 votes and 55,865,307 B shares carrying 55,865,307 votes. The Company holds no shares of its own.

Further information

Copies of the annual accounts, audit report, proxy form, complete proposals and other documents that shall be available in accordance with the Swedish Companies Act are available at the Company at Tryckerigatan 4 in Stockholm and at the Company’s website www.investors.storytel.com, at least three weeks in advance of the annual general meeting and will be sent to shareholders who request it and provide their e-mail or postal address. The nomination committee’s complete proposal including the nomination committee’s motivated opinion is available on the Company’s web site www.investors.storytel.com as from today and will be sent to shareholders who request this report and provide their e-mail or postal address.

The shareholders hereby notified regarding the right to, at the annual general meeting, request information from the board of directors and managing director according to Ch. 7 § 32 of the Swedish Companies Act.

Processing of personal data

In order to carry out the annual general meeting, the Company and its affiliate companies will before, in connection with and in the subsequent work of the annual general meeting, process your personal data. The personal data collected may be information from the share register, notice of participation at the annual general meeting and information on representatives and advisors who will be used for registration, preparation of the voting register for the annual general meeting and, if applicable, minutes of the meeting. The personal data will only be used for the annual general meeting 2019. We process your personal data because it is:

  • necessary in order to meet legal obligations; or
  • it is in our legitimate interest, for example to maintain adequate security and order during the meeting, and that interest is not subordinate to your interest against the processing of your personal data.

Personal data may be shared with third-party suppliers such as Baker & McKenzie Law Firm for the provision of services in connection with the annual general meeting. For more information about how the Company and its affiliate companies treat personal data, please read the privacy policy on the Company’s website: https://investors.storytel.com/en/privacy-policy-for-storytel/

If you in the notice of participation or otherwise include personal data regarding representative or advisor you are responsible for informing the representative or advisor that their personal data will be processed by the Company.

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Stockholm in April 2019

Storytel (publ)

The Board of Directors

For more information, please contact:

Sofie Zettergren, CFO: +46 70 509 98 08

FNCA Sweden AB is the company’s certified adviser. FNCA can be reached at info@fnca.se or 08-528 00 399.

About Storytel

The Storytel group consists of two divisions, Streaming and Publishing. The Streaming division currently offers a subscription service for audio books and e-books under the brand names Storytel and Mofibo in Sweden, Norway, Denmark, Finland, Iceland, The Netherlands, Poland, Russia, Spain, India, the United Arab Emirates, Turkey, Italy, Mexico and Bulgaria. The Streaming division also publishes audio books and Storytel Originals, mainly through the audio-book publisher Storyside. The Publishing division consists of the publishers Norstedts, Massolit, Printz Publishing, the Danish People’s Press, Storytel Publishing, Rabén & Sjögren and B. Wahlströms, as well as Norstedts Kartor