Cancellation of Extraordinary General Meeting on 15 December 2025

Rhea-AI Summary

Sivers Semiconductors (SIVEF) announced that the Board has cancelled the Extraordinary General Meeting scheduled for 15 December 2025 after Achilles Capital AB withdrew its request for the meeting.

The company said it had informed Achilles on November 17, 2025 that Achilles had not met the 10% ownership threshold and requested proof, which has not been provided to date. The Nomination Committee (except the member appointed by Achilles) and the Board did not support Achilles' proposed change, and the company reports significant shareholder support for the Nomination Committee's position. The Board concluded there is no longer a basis to hold the meeting and said no further action is required from shareholders.

Positive

• Achilles formally withdrew the EGM request before the meeting
• Board cancelled the EGM, avoiding near-term governance disruption
• Company reports significant shareholder support for Nomination Committee

Negative

• Achilles did not provide requested proof of reaching the 10% ownership threshold

KISTA, Sweden, Nov. 25, 2025 /PRNewswire/ -- Sivers Semiconductors ("Sivers" or the "Company") announces that the Board of Directors has resolved to cancel the Extraordinary General Meeting scheduled for 15 December 2025. The decision follows a notification from Achilles Capital AB ("Achilles") that it has withdrawn its request for an Extraordinary General Meeting.

Sivers previously convened the Extraordinary General Meeting at the request of Achilles. While the withdrawal of the Extraordinary General Meeting by Achilles is welcomed, it is important to note that the company informed Achilles on November 17, 2025, that it had not met the 10% ownership requirement and that Achilles was to provide proof of meeting this threshold. This proof has not been provided so far.

The Nomination Committee, except for Jörgen Durban, appointed by Achilles, did not approve Achilles' proposed change, and the Board did not support that proposed change either. Furthermore, the company has received significant support from shareholders for the Nomination Committee's position.

As that request has now been withdrawn, the Board has determined that there is no longer a basis for holding the meeting.

No further action is required from shareholders in relation to the cancelled meeting.

About Sivers
Sivers is a critical enabler of a greener data economy with energy efficient photonics & wireless solutions. Our differentiated high precision laser and RF beamformer technologies help our customers in key markets such as AI datacenters, SATCOM, Defense and Telecom solve essential performance challenges while enabling a much greener footprint. For additional information, please visit us at: www.sivers-semiconductors.com (SIVE.ST)

CONTACT:

Company Contact
Heine Thorsgaard
CFO and Head of Investors Relations
ir@sivers-semiconductors.com

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SOURCE Sivers Semiconductors

FAQ

Why did Sivers Semiconductors (SIVEF) cancel the Extraordinary General Meeting on 15 December 2025?

The Board cancelled the meeting after Achilles Capital AB withdrew its request and the company said Achilles had not provided proof of the 10% ownership threshold.

Did Sivers say Achilles met the 10% ownership requirement for the SIVEF EGM?

No; the company informed Achilles on November 17, 2025 that it had not met the 10% ownership requirement and said proof has not been provided.

What was the Nomination Committee's position on Achilles' proposed change for SIVEF?

The Nomination Committee, except for the member appointed by Achilles, did not approve the proposed change and the Board did not support it.

Do SIVEF shareholders need to take any action after the cancelled EGM?

No further action is required from shareholders in relation to the cancelled meeting.

When was Sivers Semiconductors' announcement about the cancelled EGM published?

The announcement was published on November 25, 2025.