Corporate Governance

The Board of Directors of CYBER 1 (Cyber Security 1 AB) has been approved for listing of its shares on Nasdaq First North Stockholm under the ticker CYB1 and ISIN code SE0007604061. First day of trading on Nasdaq First North Stockholm was 22 September 2016. All shares in CYBER 1 are subject to trading.

The Company operates under Swedish law.

Following the Listing on Nasdaq First North, CYBER 1 will neither be required to comply with the corporate governance rules of the Swedish Companies Act (Sw. Aktiebolagslagen 2005:551) applicable to companies which securities are admitted to trading on a regulated market, nor the Swedish Corporate Governance Code. This is due to the fact that Nasdaq First North is not considered to be a regulated market. However, it is the Company’s ambition to conduct a review of its internal governance procedures in order to apply to the codes in the future.

Nasdaq First North is an alternative market, operated by the different exchanges within Nasdaq. It does not have the legal status as an EU-regulated market. Companies at Nasdaq First North are subject to the rules of Nasdaq First North and not the legal requirements for admission to trading on a regulated market.

The board of directors applies written rules of procedure, which are revised annually and adopted by the inaugural board meeting every year. Among other things, the rules of procedure govern the practice of the board of directors, functions and the division of work between the members of the board of directors and the CEO. At the inaugural board meeting, the board of directors also adopts instructions for the CEO, including instructions for financial reporting.

The board of directors meets according to an annual predetermined schedule. In addition to these meetings, additional board meetings can be convened to handle issues that cannot be postponed until the next ordinary board meeting. In addition to the board meetings, the Chairman of the board of directors and the CEO continuously discuss the management of the Company.

  1. § 1. Företagsnamn / Company name

    Bolagets namn är Cyber Security 1 AB (publ).

    The company’s name is Cyber Security 1 AB (publ).

    § 2. Styrelsens säte / Registered Office

    Styrelsen har sitt säte i Stockholms kommun.

    The registered office is located in the municipality of Stockholm, Sweden.

    § 3. Verksamhet / Company Business

    Bolaget ska utveckla, sälja och marknadsföra lösningar för att öka säkerheten på internet, sälja tjänster och produkter inom detta område, själv och genom intressebolag, dotterbolag, agenter och partners driva sådan verksamhet, genom intressebolag och dotterbolag förvalta rörelser och fastigheter, bedriva strategisk rådgivning, utföra moderbolagsuppgifter samt därmed förenlig verksamhet.

    The company shall develop and sell solutions to increase security for uses of the internet (cybersecurity services), by selling products and services in this area, by itself and through associated companies, subsidiaries, agents and shall engage in strategic advisory services, govern investments in business and perform parent company business and related services.

    § 4. Aktiekapital / Share Capital

    Aktiekapitalet ska vara lägst 80 000 euro och högst 320 000 euro.

    The share capital shall not be less than EUR 80,000 and not more than EUR 320,000.

    § 5. Valuta / Currency

    Bolaget skall ha sin redovisning i euro.

    The company shall conduct its financial reporting in Euro.

    § 6. Antal aktier / Number of Shares

    Antalet aktier ska vara lägst 200 000 000 st och högst 800 000 000 st.

    The number of shares shall be not less than 200,000,000 and 800,000,000.

    § 7. Styrelse / Board of Directors

    Styrelsen skall bestå av lägst tre och högst nio ledamöter med högst sex suppleanter.

    The Board of Directors shall consist of not less than three (3) and not more than nine (9) members, with a maximum number of six (6) deputies.

    § 8. Revisor / Auditor

    Bolaget skall ha en eller två revisorer. Bolaget kan välja att utse lika antal revisorssuppleanter.

    The company shall have one (1) or two (2) auditors. The company may choose to appoint an equal number of deputy auditors. W/9976055/v1

    § 9. Räkenskapsår / Financial Year

    Bolagets räkenskapsår skall vara kalenderår.

    The company’s financial year shall be the calendar year.

    § 10. Kallelse till bolagsstämma / Notice of General Meeting

    Kallelse till bolagsstämma skall ske genom kungörelse i Post- och Inrikes tidningar samt genom publicering på bolagets hemsida. Att kallelse till bolagsstämma har ägt rum ska annonseras i Dagens Industri.

    Meeting notice of a general meeting shall be issued through an announcement in the Swedish Official Gazette and on the company’s website. That notice of a general meeting has been published shall be announced in Dagens Industri.

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

    Notice of annual general meeting and extraordinary general meeting where amendments to the articles of association will be considered shall be issued not earlier than six and not later than four weeks before the day of the meeting. Notice of other extraordinary general meetings shall be issued no earlier than six and no later than two weeks before the meeting.

    § 11. Årsstämma / Annual General Meeting

    På årsstämma skall följande ärenden förekomma till behandling:

    At the annual general meeting the following matters shall be dealt with:

    1. Val av ordförande vid stämman.

    Election of chairman of the meeting.

    2. Upprättande och godkännande av röstlängd.

    Preparation and approval of the voting list.

    3. Godkännande av dagordning.

    Approval of the agenda.

    4. Val av en eller två justeringsmän.

    Election of one or two participants to verify the minutes.

    5. Prövning av om stämman blivit behörigen sammankallad.

    Determination of whether the general meeting has been duly convened.

    6. Framläggande av årsredovisningen och revisionsberättelsen samt, i förekommande fall, koncernredovisningen och koncernrevisionsberättelsen.

    Presentation of the company’s annual accounts and its auditors’ report and, where applicable, the consolidated accounts and consolidated audit report.

    1. 7. Beslut om a) Fastställande av resultaträkningen och balansräkningen samt, i förekommande fall, koncernresultaträkningen och koncernbalansräkningen,

    Decision regarding W/9976055/v1

      1. b) Dispositioner beträffande bolagets vinst eller förlust enligt den fastställda balansräkningen,
      2. c) Ansvarsfrihet åt styrelseledamöterna och verkställande direktören.

    Adoption of the income statement and balance sheet and, where applicable, the consolidated income statement and consolidated balance sheet;

    Appropriation of the profit or loss according to the adopted balance sheet;

    Discharge from liability for directors of the board and the CEO.

    8. Bestämmande av antalet styrelseledamöter och styrelsesuppleanter samt, i förekommande fall, revisorer och revisorssuppleanter.

    Determination of the number of board directors and deputy board directors, and where applicable, auditors and deputy auditors.

    9. Fastställande av arvoden åt styrelsen och, i förekommande fall, revisorer.

    Determination of remuneration to the board and, where applicable, auditors.

    10. Val av styrelseledamöter och styrelsesuppleanter samt, i förekommande fall, revisorer och revisorssuppleanter.

    Election of board directors and deputy board directors and, where applicable, auditors and deputy auditors.

    11. Annat ärende, som ankommer på stämman enligt aktiebolagslagen eller bolagsordningen.

    Other business due at the general meeting according to the Swedish Companies Act or the articles of association.

    § 12. Aktieägares rätt att delta i bolagsstämma / Shareholders entitled to attend the General Meeting

    Aktieägare som vill delta i förhandlingarna vid bolagsstämma ska anmäla sig till bolaget senast den dag som anges i kallelsen till stämman. Sistnämnda dag får inte vara söndag, annan allmän helgdag, lördag, midsommarafton, julafton eller nyårsafton och inte infalla tidigare än femte vardagen före stämman.

    Shareholders who wish to participate in the general meeting must notify the company not later than the day specified in the notice. That day may not be a Sunday, other public holiday, Saturday, Midsummers Eve, Christmas Eve or New Year’s Eve and not fall earlier than the fifth weekday before the meeting.

    § 13. Avstämningsförbehåll / Record Day provisions

    Bolagets aktier skall vara registrerade i ett avstämningsregister enligt lag (1998:1479) om värdepapperscentraler och kontoföring av finansiella instrument.

    The company’s shares shall be registered in a record day register of reconciliation pursuant to the Swedish Central Securities Depositories and Financial Instruments Account Act (1998:1479).

    ________________________

    Denna bolagsordning antogs på årsstämma den 30 juni 2020.

    These articles of association were adopted at the annual general meeting June 30, 2020.

The Board of Directors shall consist of not less than three and not more than nine members, with at most six deputies.

The board of directors is the second-highest decision making body of the Company after the shareholders’ meeting and the highest executive body of the Company. According to the Swedish Companies Act, the board of directors is responsible for the organisation of the company and the management of the company’s affairs, which means that the board of directors is responsible for, among other things, setting targets and strategies, securing routines and systems for evaluation of set targets, continuously assessing the financial condition and profits as well as evaluating the operating management. The board of directors is also responsible for ensuring that annual reports and interim reports are prepared in a timely manner. Moreover, the board of directors appoints the CEO. Members of the board of directors are normally appointed by the annual shareholders’ meeting for the period until the end of the next annual shareholders’ meeting.

Daryn Stilwell

Born 1978
Ordinary Board member since 2018.

Other assignments: Wembley Stallions American Football Club Limited, Trustier Holdings Limited.
Previous assignments (past five years) The Old Elthamians Rugby XV Limited.
Education: Bachelor of Commerce (Bcom) and Bachelor of Law (LLB), Stellenbosch University. Dual qualified lawyer:  Solicitor in the jurisdiction of England and Wales and an Attorney under the laws of South Africa.

London School of Economics and Political Sciences : MBA Essentials

Shareholdings: 501,000 shares.

Non independent Director

Thomas Bennett

Born 1969
Ordinary Board member since 2020.

Other assignments: Founder & Owner, Henry & Co Legal Advisers, Co-Founder;Director Cysec Resource Co.

Education: University of Wales, Cardiff, Bachelor’s Degree, Law

MSc Management Studies, University of Oxford.

Qualified Solicitor, ISO 27001 Lead Auditor, CISA Certificate Corporate Finance

Shareholdings: 0 shares.

Independent of the Company and Group Management

Independent of Principal shareholders

Robert Blase

Ordinary Board member since 2020.

Born: 1980

Other assignments: Partner, Metric Capital Partners

Education:MSc, Business Administration, Erasmus Universiteit Rotterdam

Shareholdings: 0 shares.

Independent of the Company and Group Management

Independent of Principal shareholders

Antoine Karam

Born 1959
Ordinary Board member since 2020.

Other assignments: CEO Itway SPA,

Education, Xavier University- Williams College of Business

Shareholdings: 0 shares.

Independent of the Company and Group Management

Independent of Principal shareholders

Corne  Melissen

Ordinary Board member since 2020.
Born 1963

Other assignments: Partner, Ramphastos Investments,

Education:MSc, Economics, University of Amsterdam Shareholdings: 0 shares.

Independent of the Company and Group Management

Independent of Principal shareholders

Frank Kamsteeg

Ordinary Board member since 2020.
Born 1963

Other assignments: Partner, JFG Capital

Education: LLB, Law, Erasmus University Rotterdam.

Shareholdings: 0 shares.

Independent of the Company and Group Management

Independent of Principal shareholders

CYBER 1 have employed two Boards – Which will be confirmed following the next board meeting following the EGM

Remuneration Committee


Audit Committee

The general shareholders’ meetings are, in accordance with the Swedish Companies Act, the highest decision-making body of the Company and at the general meetings the shareholders exercise their voting rights on key issues, including inter alia decisions regarding adoption of income statements and balance sheets, allocation of the Company’s results, discharge from liability for the board of directors and the CEO, election of directors of the board and auditor and remuneration to the board of directors and auditor. In addition to the annual general meeting, extraordinary general shareholders’ meetings may be convened.

Notice of a General Meeting shall be given by announcement in the Swedish Official Gazette and Dagens Industri. Notice of an Annual General Meeting and Extraordinary General Meeting where an amendment to the Articles of Association is to be dealt with, shall be issued not earlier than six and no later than four weeks before the meeting. Notice of an Extraordinary General Meetings shall be issued no earlier than six and no later than two weeks before the meeting.

Archive

Minutes from the 2020 AGM (30th June)2020 AGM 30th June Appendix (Compiled Postal Votes)Minutes from the 2020 EGM (28th January)Minutes from the 2019 AGMMinutes from the 2018 AGMMinutes from the 2017 AGMMinutes from the 2016 AGM

Extraordinary General Meeting (27th August 2020)

Notice of Extraordinary General Meeting 2020 (27th August)

2020 EGM: Proxy Voting Form (Swedish)

2020 EGM: Proxy Voting Form (English)

2020 EGM : Postal Voting Form (Swedish)

2020 EGM: Postal Voting Form (English)

Daryn Stilwell

Born 1978.
Chief Executive Officer since 2020.

Other assignments: Wembley Stallions American Football Club Limited, Trustier Holdings Limited.
Previous assignments (past five years) The Old Elthamians Rugby XV Limited.
Education: Bachelor of Commerce (Bcom) and Bachelor of Law (LLB), Stellenbosch University. Dual qualified lawyer:  Solicitor in the jurisdiction of England and Wales and an Attorney under the laws of South Africa.

London School of Economics and Political Sciences : MBA Essentials

Shareholdings: 501,000 shares.


Vivian Gevers

Born 1982.
Chief Operating Officer since 2019

Other assignments: N.A.

Previous assignments (past five years): Managing Director, Credence Security Dubai

Other assingments: Vivian is currently not engaged in any other assignments

Education: BCom in Management, University of South Africa

Shareholdings: 5,155,031 shares.


MJ Strydon

Born 1980
Managing Director DRS: South and West Africa since 2017

Other assignments :N.A

Previous assignments : Financial Manager, DRS

Other assignments: MJ is currently not engaged in any other assignments

Education: Bachelor of Social Science, Rhodes University

Shareholdings: 132,250



Garreth Scott

Year Born : 1982
Managing Director Credence Security U.A.E since 2018

Other assignments: N.A

Previous assignments (past five years): Sales Director, Credence Security, International Channel Sales Manager AccessData.

Education: Kloof High School, KwaZulu-Natal

Shareholdings: 149,911



Job Oloo McAgeng’o

Year Born: 1975
Managing Director ProTec, East Africa since 2012

Other assignments: N/A

Previous assignments: Head of Technical, Professional Technologies Ltd

Shareholdings: 56,625

Education: Cherangani High School

Global Advisory Board

The CYBER1 board of directors has mandated Mr Grano to initiate the GAB, which will help CYBER1 develop and implement its mission statement and strategy on a global basis.

The primary mandate of the GAB will be to facilitate the successful penetration of the CYBER1 value proposition within each geographical region and concomitant to this, to prioritise cross selling opportunities within the various CYBER1 Group companies, with the resultant effect of positioning CYBER1 as a “best in class” global firm, and trusted provider of cyber security products and services to governments, municipalities, corporations and institutions.

Chairman of the G.A.B, Joseph J. Grano Jr

Mr  Grano brings with him a wealth of experience in business and has more than 30 years’ experience in the securities and financial services industries. He is the former Chairman of UBS Financial Services Inc., the former President, CEO and Chairman of UBS PaineWebber and has also previously served in various senior management positions with Merrill Lynch.

During the period from March 2002 to August 2005, Mr Grano served as the Chairman of the Homeland Security Advisory Council following his appointment by President George W. Bush: in this role, he was ultimately responsible for providing the Secretary of Homeland Security with real-time, real-world, sensing and independent advice in order to better facilitate decision-making across the spectrum of homeland security operations.

The most recent auditor election was at the annual general meeting 2019, when RSM Stockholm AB was elected as the Company’s auditor for the period until the end of the annual general meeting 2020.

Malin Lanneborn, RSM Stockholm AB,  was appoint as auditor-in-charge, for the time up until the next annual general meeting in the company.RSM Stockholm AB’s office address is Birger Jarlsgatan 57 B, 113 56 Stockholm, Sweden