The decision from the recent annual general meeting means that Boozt is now bolstering its war chest by balancing SEK 1.3 billion in new accounts. The strategy is clear: the money will remain within the business to create a strong financial base.
In addition to existing funds, the board of directors has been given a mandate extending until next year to decide on a new issue of shares.
This authorization could increase the number of shares in the company by 10 percent. The purpose is to give the company room for maneuver to finance future acquisitions of other companies and assets, as well as to adjust the capital structure. This allows the e-commerce retailer to act quickly if an interesting acquisition target appears.
The Board of Directors Gains New Expertise
To lead the company through this expansion phase, Boozt is choosing to expand the board of directors with additional expertise.
Hans J. Carstensen and Johannes Møller Westh are now taking their places as new members. Their backgrounds should add new perspectives to the work of steering the company's strategic direction and capital allocation. They join a group led by Chairman of the Board Henrik Theilbjørn, who also received renewed confidence during the meeting.
For their work, the chairman will be compensated with SEK 1.3 million, while the other members who are not employed by the company will receive SEK 500,000 each.
Millions of Shares to Key Personnel
At the same time as the focus is directed outwards towards possible acquisitions, the company is also securing its internal competence.
A new incentive program has been approved, offering a total of approximately 50 employees the opportunity to participate. The program is aimed at the company's CEO and other people in leading positions who are considered crucial for Boozt's future development.
Provided that specific goals are achieved, participants may be rewarded with a total of up to 900,000 performance shares.
The idea behind the program is to tie the most important people closer to the company and ensure that their interests are aligned with those of the shareholders as Boozt now aims to gain market share in 2026.