24 Nov 2025

Major shareholder withdraws demand for extraordinary general meeting

The major shareholder Achilles Capital AB is withdrawing its demand for an extraordinary general meeting in Sivers Semiconductors AB to vote on amended voting rules in the nomination committee.

1. The purpose of the proposal was to modernize the company’s corporate governance, but after discussions with the board and the other shareholders, we have decided to withdraw the demand for an extraordinary general meeting and instead work to bring about a change in connection with the Annual General Meeting, says Erik Fällström.

On October 29, 2025 the major shareholder Achilles Capital AB (with approximately 10% of the votes and of the capital) put forward the demand for an extraordinary general meeting in Sivers Semiconductors AB to strengthen the company’s corporate governance. Above all, Achilles Capital AB objects to the fact that, under the current rules, the company’s chair has voting rights in the nomination committee.

2. As a matter of principle, we believe it is appropriate that the chair only acts as an expert and convener in a nomination committee. The fact that the chair also has voting rights increases the risk of disqualification or conflicts of interest. We also note that an increasing number of listed companies are moving in this direction, says Erik Fällström.

However, the fact that Achilles Capital AB is now withdrawing the demand for an extraordinary general meeting should not be seen as abandoning the issue altogether.

3. On the contrary. After discussions with other shareholders, we have taken on board the criticism that the issue has been raised too early and that it risks taking focus away from operations during an important time for the company. Therefore, we have chosen, so to speak, to bide our time until the Annual General Meeting in the spring.