31 Jan
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STOCKHOLM IT VENTURES AB REPORTS FROM ITS EXTRAORDINARY SHAREHOLDERS MEETING – CHANGE IN MANAGEMENT


STOCKHOLM, SWEDEN (JANUARY 31st, 2019) – Stockholm IT Ventures AB (Frankfurt Stock Exchange: SVAB – ISIN SE 0006027546) held an Extraordinary Shareholder Meeting on Tuesday, January 29th 2019. The meeting was held in Stockholm and attended by several shareholders and board member Mr. Eduard Will.

Board of Directors:

Mr. Eduard Will, Mr. Mujassum Butt and Mr. Mathew Steckel decided to step down as board members to pursue other activities. They will continue to support the company in any way they can. The executive Management would like to thank them for their service and wish them all the best in their future endeavours.

In addition, it was resolved that Mr. Michel Fayad and Mr. Bert Scheen were elected as new members to the board of directors.

Michel Fayad
Mr. Fayad holds a Bachelor of Arts in Political Science, a Master of Arts in Diplomacy with specialisation track in Geopolitics, Law and International Economy and the TRIUM Global Excecutive Master of Business Administration. Mr. Fayad has extensive experience and skills in policy, global strategy and business development.

Bert Scheen
Mr. Scheen has a Master of Science in Insurance Studies, a Master of Arts in Dutch Language and Literature, a Master Degree in Financial Planning and Wealth Management and a Bachelor Degree in Economics. Mr. Scheen is a seasoned banker with over 20 years of experience in triple A banking and asset management. He has previously been acting as advisor to Stockholm IT Ventures AB as well as most recently as COO of the company. Prior to joining Stockholm IT Ventures AB Mr. Scheen was heading the EMEA sales division of an international boutique bank.

Executive Management:

Mr. Anthony Norman has decided to resign from his position as CEO in order to be able to devote himself to other tasks within the company. It was resolved today that with immediate effect Stockholm IT Ventures AB will appoint Mr. Bert Scheen as its Chief Executive Officer.

Mr. Anthony Norman has decided to do so to enable him to focus his expertise in a way that will contribute more directly to the company’s success. Mr. Norman will continue to be part of the executive management team and will continue to play a critical role in the company as will be discussed further by the new CEO in his view and new strategy for the business.

Chairman Mr. Roger Tamraz wishes all new board members success and looks forward to continuing to work together very well.

All of the above changes in board and management are in line with the company’s new strategy which will be addressed shortly by the new CEO after having reviewed the current opportunities within the business.

About Stockholm IT Ventures AB
Stockholm IT Ventures AB is a Swedish public company listed on the Frankfurt Stock Exchange since 2014 under the ticker symbol SVAB. The Company specialises in clean and efficient low-cost energy cryptocurrency mining, production and related FinTech and Blockchain technologies. For more information visit www.stockholmit.co. You can also find the Company on FacebookTwitter and LinkedIn.

Media Contact:
Stockholm IT Ventures AB, Anthony Norman, media@stockholmit.co


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