Go North reports on resolution from general meeting on depleted registered equity
In accordance with a press release issued 31 May 2024, Go North Group AB ("Go North") confirmed that the board of directors of Go North had decided to prepare balance sheets for liquidation purposes in Go North and certain of its subsidiaries, which showed that the equity in the relevant company was less than half of the registered share capital.
Go North held its annual general meeting on 28 June 2024. In accordance with the provisions of the Swedish Companies Act, Go North has presented the balance sheet for liquidation purposes as well as the auditor's statement relating thereto to its general meeting. The general meeting thereafter resolved that Go North should not enter into liquidation and that the question on liquidation should be postponed to a second general meeting within eight months.
Go North's intention is to restore the registered share capital within the required time period of eight months, and is working closely with its shareholders to find, agree on and implement a solution.
For a summary on the main resolutions passed at the meeting, please see https://gonorth.co/investors-relations/.