NanoSpace AB, a subsidiary of GomSpace Group AB (the "Company"), has signed a contract with the European Space Agency (ESA) to develop and a qualify an advanced propulsion system suitable for nanosatellites — the contract value is 800,000 euros and the project will run for two years.

The objective of this contract is to develop a propulsion system that can give nanosatellites “6 degrees of freedom” control with high accuracy and this is needed to enable advanced satellite missions, such as close formation flying, rendezvous and docking. The work will be based on NanoSpace miniaturized and already flight proven propulsion technology that is base lined on several hundred cubesats over the coming years.

Niels Buus, the CEO of GomSpace, declared that this new contract with ESA will take the company's miniaturized propulsion technology to the next level in terms of functionality, and hopefully open the door to some highly advanced cubesat missions in the future.

Additionally, members of the nomination committee for the annual general meeting of GomSpace Group AB to be held in 2018 have been appointed. At the annual general meeting in the Company, held on April 27, 2017, it was resolved to adopt principles for the appointment of a nomination committee to be composed of the chairman of the board of directors and three members appointed by the three largest shareholders by votes at the end of the third quarter each year.

The three largest shareholders exercising their right to appoint a member to the nomination committee were Hansen & Langeland ApS, David Zetterland and the Swedish Space Corporation (Svenska rymdaktiebolaget, SSC). Each of the aforementioned shareholders has appointed the following members:

• Jens Langeland Knudsen, appointed by Hansen & Langeland ApS
• David Zetterlund
• Stefan Gardefjord, appointed by SCC

The members set out above and the chairman of the board of directors of the Company will form the nomination committee. The nomination committee is to appoint a chairman among its members. The chairman of the board of directors may not be chairman of the nomination committee. The three shareholders appointing members together represents approximately 19.6 per cent of the total number of shares and votes in the Company.

The nomination committee is to prepare and submit proposals to the annual general meeting to be held in 2018 regarding election of chairman of the meeting, election of chairman and other members of the board of directors, remuneration for the chairman and for each of the other members of the board of directors and, if applicable, remuneration for committee work, election of the auditor and the auditor’s remuneration and, if applicable, changes to the principles for the appointment of a nomination committee adopted at the annual general meeting held in 2017.

The instruction for the nomination committee in GomSpace can be found in the corporate governance section at the Company’s website, www.gomspace.com.

GomSpace’s annual general meeting will be held on April 26, 2018 in Stockholm, Sweden.