The English text is a translation of the original Swedish text. In the event of discrepancies, the Swedish version shall prevail.

Transkript

1 The English text is a translation of the original Swedish text. In the event of discrepancies, the Swedish version shall prevail. Bilaga 1 Exhibit 1 Styrelsens redogörelse enligt 1 kap 6 aktiebolagslagen The boards report in accordance with Chapter 1, Sections 6 of the Swedish Companies Act Styrelsen för Scandinavian Organics AB (publ) får härmed avge följande redogörelse. The board of Scandinavian Organics AB (publ) hereby issues the following report. Vid årsstämma i bolaget den 0 oktober 2015 avgavs årsredovisning avseende räkenskapsåret 2014/2015. Årsredovisningen godkändes och resultat- och balansräkningar fastställdes. Årsstämman beslutade i enlighet med styrelsens och verkställande direktörens förslag att balansera den ansamlade förlusten i ny räkning. Årsstämman beslutade vidare att bemyndigande styrelsen att fatta beslut om emission, vilket bemyndigande registrerades av Bolagsverket den 25 november The company s annual report for the financial year 2014/2015 was presented at the ordinary general meeting on 0 October The profit and loss account and balance sheet was adopted by the annual general meeting. In accordance with the board of directors and the managing directors proposal, the ordinary general meeting resolved to carry forward the accumulated losses in a new account. Further, the ordinary general meeting resolved to authorize the board to resolve on share issues, which authorization was registered at the Swedish Companies Registration Office on 25 November Sedan årsstämman har följande händelser av väsentlig betydelse för bolagets ställning inträffat: The following events of material importance for the company s financial position has occurred since the ordinary general meeting: - I december 2015 beslutade styrelsen att genomföra en crowdfundingkampanj för verksamhetsgrenen BUJJO och i samband med avslutad kampanj att lägga detta i ett dotterbolag ägt av bolaget samt crowdfundinginvesterarna. In December 2015 the board resolved to carry out a crowd funding campaign for the drinking broth operations BUJJO and in connection with the finished campaign incorporate the operations in a subsidiary owned by the company and the crowd funding investors. - Bolaget samarbetar med Waynes Coffee om lansering av färdigrätter med start i januari The company co-operates with Waynes Coffee concering launch of ready meals, starting in January Bolaget har tecknat distributionsavtal med Bergendahls Foods för delar av bolagets sortiment, som kommer att vara tillgängliga i alla City Gross butiker i Sverige från vecka The company has signed a distribution agreement with Bergendahls Foods for parts of the company's products, which will be available in all City Gross stores in Sweden from week Från den 6 januari 2016 saluförs bolagets köttbullar och pannbiffar i samtliga REMA1000 affärer i Danmark. Marknadsföringen i Danmark sker genom ett joint venture avtal med DAVA Foods. From 6 January 2016, the Company will sell meatballs and hamburgers in all REMA1000 stores in Denmark. The marketing in Denmark is done through a joint venture agreement with Dava Foods. - Den 4 januari 2016 tecknades totalt aktier med utnyttjande av teckningsoptioner. On 4 January 2016, a total of shares were subscribed for using warrants. - Den 15 januari 2016 tecknades totalt aktier med utnyttjande av konvertibler. Utestående konvertibler förföll till betalning den 1 januari On 15 January 2016, a total of shares were subscribed for using convertibles. Outstanding convertibles were due for repayment on 1 January

2 The English text is a translation of the original Swedish text. In the event of discrepancies, the Swedish version shall prevail. - Den 2 februari 2016 genomfördes en nyemission på aktier till en extern investerare. Aktierna emitteras till en kurs om 9,50 kr per aktie. On 2 February 2016, a new issue of 105,981 shares was performed to an outside investor. The shares were issued at a price of SEK 9.50 per share. - Bolaget har slutit ett avtal med Aggregate Media värt kronor vilken betalas genom kvittning med aktier till 16 SEK per aktie. Genom avtalet får Bolaget tillgång till reklamutrymme hos de stora svenska medieleverantörerna. The Company has concluded an agreement with Aggregate Media worth MSEK 2,4 which is paid by set-off with 150,000 shares at SEK 16 per share. The agreement gives the company access to advertising space in major Swedish media providers. - Den 10 mars skedde förändringar i företagsledningen. Nils Wetterlind överlämnade rollen som företagets VD till Ian Creasey. Nils kommer på heltid att fokusera på affärsutveckling och öppna upp exportmarknader. - On 10 March there was a change of management. Nils Wetterlind handed the role of CEO to Ian Creasey. Nils will have a full-time focus on business development and open up export markets. - Bolaget inleder samarbete med det danska matkasseföretaget Aarstiderna genom leveranser av ekologiska produkter. Aarstiderna har ca privata kunder i Danmark. The company starts cooperation with the Danish grocery firm Aarstiderna by supplies of organic products. Aarstiderna has about 40,000 private customers in Denmark. - Den 1 mars 2016 genomfördes en nyemission på aktier till huvudsakligen en extern investerare. Aktierna emitteras till en kurs om 8,50 kr per aktie, totalt motsvarande cirka 6,8 MSEK. On 1 March 2016, a new issue of 795,27 shares was performed to an outside investor. The shares were issued at a price of SEK 8.50 per share, equivalent to about MSEK Bolaget har slutit ett avtal med Aggregate Media värt kronor vilken betalas genom kvittning med aktier till 10 SEK per aktie. Genom avtalet får Bolaget tillgång till reklamutrymme hos de stora svenska medieleverantörerna. The Company has concluded an agreement with Aggregate Media worth MSEK 2,0 which is paid by set-off with 200,000 shares at SEK 10 per share. The agreement gives the company access to advertising space in major Swedish media providers. - Vid en extra bolagsstämma den juni beslutades att emittera aktier till en kurs av 11 kr per aktie till Nils Wtterlind Holding AB samt aktier till en kurs av 8,50 kr till Kouokai Pty. Ltd. At an Extraordinary General Meeting on June, it was resolved to issue 81,818 shares at a price of SEK 11 per share to Nils Wetterlind Holding AB and 144,670 shares at a price of SEK 8.50 to Kouokai Pty. Ltd. - Den extra bolagsstämman beslutade även att bemyndiga styrelsen att med eller utan avvikelse från aktieägarnas företrädesrätt, besluta om nyemission av aktier, emission av teckningsoptioner och/eller konvertibler. The Extraordinary General Meeting also resolved to authorize the Board with or without deviation from the shareholders pre-emption rights, issue new shares, issue warrants and/or convertibles. - Den 20 juni inledde Bolaget ett samarbete med Nordic Choice Hotels som gör ett urval av Scandinavian Organics produkter tillgängliga för alla Nordic Choice-hotell i Sverige. On June 20, the company started a cooperation with Nordic Choice Hotels who makes a selection of Scandinavian Organics products available to all Nordic Choice hotels in Sweden. - Den 4 juli upprättades en kontrollbalansräkning per den 1 maj 2016 som visade att det egna kapitalet var mindre än halva det registrerade aktiekapitalet. Bolaget kommer att kalla till en s.k. första kontrollstämma. On July 4th a balance sheet for liquidation purposes of May was established showing that equity was less than half of the registered share capital. The Company will convene a so-called first control EGM. 2

3 The English text is a translation of the original Swedish text. In the event of discrepancies, the Swedish version shall prevail. - Bolaget har under innevarande räkenskapsår expanderat kraftigt. Detta sammantaget med The Company has during the current financial year expanded its business substantially. This together with investments made have resulted in a significant loss of about MSEK 28 for the company during the current financial year. The company's continued operation is entirely dependent on additional funding. The following documentation is attached to this report: 1. Kopia av årsredovisningen för räkenskapsåret 2014/2015 försedd med anteckning om A copy of the annual account for the financial year 2014/2015 with a notification of the general meeting s resolution regarding the company s losses. 2. Kopia av revisionsberättelsen för räkenskapsåret 2014/2015. A copy of the auditor s report for the financial year 2014/2015. Auditor statement in respect of the board s report. Jonathan Back Nils Wetterlind Ian Creasey Ulf Persson

4 The English text is a Iransiatian of the original Swedish text. In the even t of discrepancies, the Swedish version sha/1 prevai/. Bolaget har under innevarande räkenskapsår expanderat kraftigt. Detta sammantaget med The Compaf!J has during the cumnt financial year expanded its business substantialjy. This together with investments made have resulted in a signijicant loss rif about MSEK 28 for the compaf!j during the current financial year. The compaf!j's continued operation is entirejy dependent on additional junding. The following documentation is attached to this report: 1. Kopia av årsredovisningen för räkenskapsåret försedd med anteckning om A copy rif the annual account for the financial year 2014 l 2015 with a notijication rif the general meeting's resolution regarding the compaf!j's losses. 2. Kopia av revisionsberättelsen för räkenskapsåret A copy rif the auditor's report for the financial y ear 2014 l Auditor statement in respect rif the board 's report. Jonathan Back Nils Wetterlind Zfl~ IanCreasey UlfPersson

5 The English text is a transla/i on of the original Swedish text. In the even/ of discrepancies, the Swedish version sha/1 prevai/. Bolaget har under innevarande räkenskapsår expanderat kraftigt. Detta sammantaget med The Compa'!)l has during the cumnt financial year expanded its business substantial!j. This together with investments made have resulted in a signijicant lossq/about MSEK 28 for the compa'!y during(he current financial year. The compa'!ji's continued operation is entire!j dependent on additional Junding. The following documentation is attached to this report: 1. Kopia av årsredovisningen för räkenskapsåret försedd med anteckning om A copy q/ the annual account for the financial year 2014 l 2015 with a notijication q/ the general meeting 's resolution regarding the compa'!ji's losses. 2. Kopia av revisionsberättelsen för räkenskapsåret A copy q/ the auditor's report for the financial year 2014 l Auditor statement in respect q/ the board's repor!. J anathan Back Ian Creasey UlfPersson

6 The English text is a transtation of the original Swedish text. In the event of discrepancies, the Swedish version s hall prevad Bolaget har under innevarande räkenskapsår expanderat kraftigt. Detta sammantaget med The Compaf!Y has dming the current financial year e::x.panded its businejj substantialfy. This together with imjestments made have resulted in a signijicant lon if about MSEK 28 for the compaf!y during the current financial year. The compa'!y's continued operation is entirefy dependent on additional funding. The.following documentation is attached to this repor!: 1. Kopia av årsredovisningen för räkenskapsåret försedd med anteckning om A copy if the an nu al account for the financial y ear l 2015 'JJJith a notijication if the general meeting s resolution regarding the compmrys lossej. 2. Kopia av revisionsberättelsen för räkenskapsåret A copy if the auditor'j report for the fznancial year 2014 l Auditor Jtatement in mpect if the board'j report; Jonathan Back Ian Creasey UlfPersson