According to Intellego, the aim is that the board, which consists of a total of three people, will be able to continue making decisions until a new board has been appointed.
According to Intellego's articles of association, there must be at least three members on the board.
The board member in question was recently charged with gross fraud and embezzlement.
The board of directors also announces that it has submitted a request to the stock exchange operator Nasdaq that the company's shares remain suspended "to enable a restart of the company's viable operations."
Nasdaq's disciplinary committee is currently considering whether Intellego's share should be delisted from First North Growth Market.
Background: The Intellego tangle in brief
TT
Intellego manufactures and develops UV technology used in disinfection, sun protection and industry. The company's shares – with 19,000 owners – have been suspended from trading since the Swedish Economic Crime Authority raided the company on November 18. The suspicions relate to misleading information and reporting.
The company has since also been reported to the police for suspected gross fraud by the state-owned Swedish Export Credit (SEK) and the Export Credit Board (EKN), which state that they were tricked into purchasing receivables and issuing guarantees to Intellego.
The auditing firm Deloitte has also reported the company for suspected accounting fraud.
Intellego's former CEO Claes Lindahl has been charged with serious crimes and has been dismissed from the company. He denies the charges and no decision on prosecution has yet been made.
The Court of Appeal recently upheld a previous decision to seize SEK 230 million, which will cover an expected corporate fine and compensation claims from the state-owned Swedish Export Credit Agency and the Export Credit Board.
